Swell Ethereum SWETH

1. Summary

Ranks

Liquidity

96

Developer

37

Social

66

Momentum (beta)

40

Stack Rank™

23

Price

$3,362.34 +0.4%

Market Cap

$408.98M (#174)

Supply

135,736.00 / 135,738.00

Tags

Arbitrum Ecosystem Ethereum Ecosystem Liquid Staking Tokens

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Price
52W High price	$4,259.10
52W High date	12th Mar 2024 (8 months ago)
All Time High (ATH) Date	12th Mar 2024 (8 months ago)
ATH Price	$4,273.24
% From ATH	-39.3%
All Time Low (ATL) Date	12th Oct 2023 (1 year ago)
ATL Price	$1,535.26
% From ATL	68.94%

Supply & Trading Volume
Trading Volume (24h)	$2.77M
Total Supply	135,738.00
Circulating Supply	135,736.00

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Description

Swell Ethereum (SWETH) is an ERC20 token representing a user's staked ETH on Ethereum. It includes any rewards, penalties, MEV, and tips from the consensus and execution layers. The token's intrinsic value can grow due to on-chain rewards, but its number remains constant. The Swell team operates a bot to reprice swETH's internal exchange rate daily...

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Swell Ethereum (SWETH) is an ERC20 token representing a user's staked ETH on Ethereum. It includes any rewards, penalties, MEV, and tips from the consensus and execution layers. The token's intrinsic value can grow due to on-chain rewards, but its number remains constant. The Swell team operates a bot to reprice swETH's internal exchange rate daily, which is constrained by parameters on frequency and magnitude of updates. The repricing also uses Chainlink proof-of-reserve to verify the daily system ETH balance on the consensus layer.

Deposit Manager

The Deposit Manager contract manages the depositing of ETH. Users can deposit ETH and receive swETH in return. The deposited ETH is directed to the appropriate destination within the protocol.

Node Operator Registry

The Node Operator Registry contract manages the selection of validators. Validators are pooled until a minimum of 32 ETH is reached, and then the next validator(s) from the registry contract are chosen using a systematic selection process. A deposit is initiated into the Ethereum deposit contract using the selected validator key(s).

Access Control Manager

The Access Control Manager contract manages access control within the protocol. It handles roles, permissions, and provides mechanisms to pause certain functionalities. Key functions include initializing parameters, withdrawing ERC20 tokens, setting system addresses, and pausing or resuming operations.

Governance

The system is currently governed by a multisig, with plans to transfer control to a Swell DAO through the "voyage" in early 2024.

Swell Network

The Swell Network aims to deliver a liquid restaking experience, simplifying access to DeFi and securing the future of Ethereum. It involves restaking ETH to earn rewards, receiving liquid staking tokens like swETH, and earning additional yield in DeFi.

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