Swell Network to Launch its Own Layer 2 Rollup Chain
Liquid restaking platform Swell Network is set to launch its own Layer 2 rollup chain, taking advantage of features from EigenLayer. This new rollup will differ from traditional Layer 2 designs by adopting a “restaked rollup” approach developed by AltLayer. Swell will utilize Polygon’s chain development kit (CDK) with support from AltLayer to develop the Layer 2 network, which is expected to be released in the second half of this year.
The Swell Network’s Layer 2 rollup aims to provide several benefits to its users, including native restaking yield through Eigen, improved scalability, and lower fees. The network’s designated gas token will be rswETH, and Swell’s upcoming token will be used for governance.
Incorporating Eigen’s Actively Validated Services and EigenDA
The restaked rollup structure of the Swell Network will incorporate actively validated services (AVS) built on top of EigenLayer. These services will enable features like decentralized sequencing and verification through EigenLayer’s restaking mechanism. Additionally, the network will integrate EigenDA to fulfill its data availability requirements.
Swell founder Daniel Dizon expressed his excitement about expanding the liquid restaking offerings into Layer 2 for restaking, stating that it aligns with the protocol’s vision of delivering the best liquid restaking experience for DeFi.
About Swell Network
Swell Network initially started as a liquid ETH staking protocol in 2023 but later expanded its focus to include liquid restaking products as well. In January, Swell introduced rswETH, a liquid restaking token that integrates directly with EigenLayer. Currently, Swell has over $1.1 billion in total value locked across its liquid ether staking and liquid restaking products.
Hot Take: Swell Network’s Layer 2 Rollup Chain Marks an Exciting Milestone for Liquid Restaking
The upcoming launch of Swell Network’s Layer 2 rollup chain represents a significant milestone for the liquid restaking ecosystem. By leveraging EigenLayer’s specialized framework and incorporating actively validated services, Swell aims to provide users with enhanced scalability, lower fees, and native restaking yield through Eigen.
With the integration of Polygon’s chain development kit and support from AltLayer, Swell is well-positioned to create a robust Layer 2 network that addresses the growing demand for efficient and cost-effective solutions in the DeFi space.
The introduction of rswETH earlier this year was already a step towards expanding Swell’s liquid restaking offerings, but the launch of their own Layer 2 rollup chain takes it to the next level. This development will enable Swell to offer an improved user experience while maintaining the security and decentralization that are crucial in the crypto ecosystem.
As the second half of the year approaches, crypto enthusiasts can look forward to experiencing the benefits of Swell Network’s Layer 2 rollup chain firsthand. With its unique approach to restaked rollups and integration of EigenLayer’s services, Swell is poised to make a significant impact on the liquid restaking landscape.
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