Summary
Swell has launched a liquid restaking token (LRT) called rswETH that allows users to earn Ethereum staking rewards and native restaking yield from EigenLayer without locking up their liquidity. Swell will accumulate 10% of users’ staking rewards after taking zero fees for the first 30 days. The total value locked (TVL) for Swell is currently $455.6 million, with its liquid staking token (LST) accounting for 97% of the TVL. Liquid restaking has gained popularity in the DeFi space, with EtherFi’s eETH token leading the way with a TVL of $507 million. KelpDAO and Renzo are also prominent LRT protocols.
Key Points
1. Swell has launched a liquid restaking token (LRT) called rswETH, which allows users to earn Ethereum staking rewards and native restaking yield from EigenLayer without locking up their liquidity. Users can also use their tokens in third-party DeFi protocols.
2. Swell currently has a total value locked (TVL) of $455.6M, with its liquid staking token (LST) accounting for 97% of the TVL. This indicates the growing popularity and adoption of liquid restaking protocols.
3. Other prominent liquid restaking protocols include EtherFi, which has a TVL of $507M and has experienced significant growth since the start of January, and KelpDAO, which has a TVL of $256M and has integrations with LSTs from Frax and Stader. Renzo is also a notable LRT protocol with a TVL of $155M and recently completed a $3.2M seed round.