Swell Network is a decentralized finance (DeFi) platform offering a liquid staking protocol for Ethereum. Its upcoming airdrop event allows users to earn Pearls, which convert to $SWELL tokens during the Token Generation Event (TGE).
What is Swell Network?
Swell is a non-custodial liquid staking protocol designed to:
- Simplify access to DeFi.
- Secure Ethereum’s future.
- Provide passive income through staking rewards.
Users stake ETH to receive $swETH (a yield-bearing liquid staking token) and can participate in DeFi for additional yield.
How to Earn Pearls on Swell Network
Understanding Pearls
Pearls are rewards that convert to $SWELL tokens at TGE.
Earning Methods
- Staking ETH for $swETH: Earn 30 Pearls per ETH staked.
- Restaking $swETH on EigenLayer: Earn an additional 30 Pearls per ETH.
- Referral Program: Gain 10 Pearls for each ETH staked by referred users.
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Step-by-Step Guide
- Connect Your Wallet: Use MetaMask or a compatible wallet.
- Stake ETH: Deposit ETH to mint $swETH (unstaking is currently disabled).
- Restake on EigenLayer: Deposit $swETH to earn 60 Pearls total (plus 10 via referral).
Note: Participation also accumulates EigenPoints, part of Swell’s reward system.
Key Considerations
Required Tools
- MetaMask Wallet: Essential for interacting with Swell Network.
Risks
- DeFi Risks: Impermanent loss, smart contract vulnerabilities, and market volatility. Review Swell’s official documentation for details.
FAQs
Q: When is the $SWELL Token Generation Event?
A: Expected in late Q1 2024.
Q: Can I unstake my ETH after depositing?
A: Not currently—staking is one-way until further updates.
Q: How do referrals work?
A: Share your referral link; earn 10 Pearls per ETH staked by invited users.
Conclusion
Swell Network’s airdrop offers a strategic way to engage with its ecosystem. By staking ETH and restaking on EigenLayer, users maximize Pearl earnings ahead of the $SWELL launch.
For more crypto opportunities, explore our curated airdrop guides!
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