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@maybeYonas
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Swellchain - wSWELL
Flipside AI
The Swell Network liquid restaking protocol demonstrates remarkable growth and user engagement, with wswell token claims surging from 7 to 39.6 million tokens over a 30-day period, representing a massive 505,000% increase in queued liquidity. The protocol has processed 911,617 token claims and accumulated $1.22 million in treasury funds, indicating strong user participation. Additionally, the Brahma protocol shows emerging dominance, with 7-day claim volume increasing from 2 to 1,008 claims, signaling potential institutional interest and protocol expansion.
With the launch of Swellchain, Swell Network has decided to do away with points and focus on real emissions and rewards. Wavedrop earnings will be tracked onchain as wSWELL.
wSWELL is a locked 1:1 wrapper for SWELL distributed via third-party protocol Merkl. As in Wavedrops 1 and 2, it can be earned by holding Swell assets or using approved DeFi Protocols. At the end of each Wavedrop, wSWELL can be redeemed for its full value of SWELL—or any time earlier for a discounted amount.
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