@swellnetworkio

Liquid Restaking for DeFi. swETH, rswETH, and Swellchain. https://xitter.cf/t.co/zjpSLumlmV

 Ethereum
t.me/+QvXky2aKNc8yYTI1
Joined May 2025
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16Media

Sunsetting Swellchain: From L2 to Faro

Article · @swellnetworkio
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We are aware of reports of suspicious activity on the swETH and rswETH contracts. Our team is investigating now with our security partners and taking all necessary precautions. No ETH has left the swETH or rswETH withdrawal or deposit contracts. No action is required.
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Swellchain Shutdown: Recovery of Bridged swETH, rswETH, and SWELL SWELL, swETH, and rswETH left on Swellchain after the shutdown will soon be claimable on Ethereum. You can now check your balance. These tokens were bridged to Swellchain with LayerZero’s OFT (Omnichain Fungible Token) standard. They stayed there after the chain closed on June 23rd, 2026. Working with @LayerZero_Core, we have recovered these funds and made them available to claim. How we recovered the funds When you bridged tokens to Swellchain, the bridge locked them in a contract on Ethereum. Swellchain then minted the same amount to you. To release the locked tokens without Swellchain, we temporarily created a dummy OFT on BNB Chain (BSC). These steps were followed: 1. We removed Swellchain as a trusted source on the Ethereum bridge contracts. This makes sure no one can release the same funds twice. etherscan.io/tx/0x83a194e3f5… 2. We deployed temporary SWELL, swETH, and rswETH contracts on BSC. SWELL: 0xc1188Fa318BAa490B14241aF5cb3e64Fd38235ee swETH: 0x8c758BEDA8CCB374dC89B74D8CF2F908B1077d82 rswETH: 0x963132A22e8Dd516Ec65C2FAd3a17F280c27de2d 3. We connected the BSC contracts to the Ethereum bridge contracts. etherscan.io/tx/0x83a194e3f5… 4. On BSC, we minted temporary tokens to the Swell multisig. The amount equals the total supply of each token on Swellchain. These tokens had no value and existed only to unlock the tokens on Ethereum. bscscan.com/tx/0x0e13b99bee3… bscscan.com/tx/0x0ddd2702c80… 5. We bridged the temporary tokens from BSC to Ethereum. This released the locked tokens to the Swell multisig. bscscan.com/tx/0x0e13b99bee3… bscscan.com/tx/0x0ddd2702c80… 6. We disconnected BSC from the Ethereum bridge contracts. The temporary BSC tokens are valueless and have no further use. etherscan.io/tx/0x4979aed3dc… 7. The released tokens will be moved into a Merkle claim contract after a final claim check Recovered amounts SWELL: 72,773,835.73 swETH: 100.994705 rswETH: 55.282269 How to claim Go to the page for the asset you held on Swellchain: app.swellnetwork.io/claim/sw… app.swellnetwork.io/claim/sw… app.swellnetwork.io/claim/rs… 1. Connect the wallet you used on Swellchain. 2. Check your claimable amount. 3. Claims will open within the next two weeks. Transactions Bridging tx on BSC chain bscscan.com/tx/0x0e13b99bee3… bscscan.com/tx/0x0ddd2702c80… Released fund tx on Ethereum: etherscan.io/tx/0x1acf73a849… etherscan.io/tx/0xdd1ef9c553… etherscan.io/tx/0xf978d96e1f… etherscan.io/tx/0xc5af243b15…
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$SWELL Token Rights are now listed on DefiLlama, including buybacks and burns. Another 50M burned today. Nearly 12% of total supply is now gone.
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$rswETH holders received a one-time rewards boost. Obol claimed accumulated validator rewards and added them to the protocol, temporarily increasing the exchange rate for all existing restakers.
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You can now claim earnETH left on Swellchain after the shutdown.
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earnETH balance checker is live. If you had earnETH on Swellchain after the shutdown, you can now check your balance ready to withdraw. Withdrawals to Ethereum will open soon. app.swellnetwork.io/claim/ea…
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Another 50M ethereum:0x0a6e7ba5042b38349e437ec6db6214aec7b35676 was burned for August. 0.5% of the total supply is burned each month under the supply reduction program.
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Ethereum is back! → Staking ratio at a record 34.4% of supply → Trump pushing tokenization mainstream → Shorts squeezed: price up 18% in 24h Stake with Swell for simple competitive yield on $ETH.
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More than 10% of the $SWELL supply has now been burned! Every month, an additional 0.5M SWELL is destroyed, along with all protocol revenue sold to SWELL via Fee Flow.
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Fee Flow: app.swellnetwork.io/fee-flow

Swell

Delivering the world’s best liquid restaking experience, simplifying access to DeFi, and securing the future of Ethereum.

app.swellnetwork.io
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Bitget is now offering 20% APR on ethereum:0x0a6e7ba5042b38349e437ec6db6214aec7b35676 in Simple Earn Flexible.
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Swell retweeted
CODESPECT
@CODESPECTJul 9
✅ Completed audit for @swellnetworkio's ETH Staking Deposit Bot CODESPECT completed a security review of Swell's eth-staking-deposit-bot, the CLI tool operators use to deposit node-operator validators for both swETH and rswETH. No Critical issues were found. The Swell team resolved ten of the twelve findings promptly, including the High and one Medium, and provided clear rationale for the two items they chose to accept. Wishing Swell continued success with their staking infrastructure 🚀
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June burn update: 970M $SWELL has now been destroyed. Nearly 10% of total supply burned through regular fee flow auctions and the monthly 0.5% supply reduction program.
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Today is the final day for withdrawals from Swellchain. Please withdraw before tomorrow to avoid losing access to funds. If you need help, click the frog in the Swell app or open a support ticket in our Telegram group.
Swell
@swellnetworkioJun 16
The Swellchain shutdown has begun. You must bridge your assets off Swellchain by June 23. Anything left on the chain after that date will be unrecoverable. Bridge out via Superbridge: superbridge.swellnetwork.io/ Assets from the following protocols still remain on the chain: $weETH from @ether_fi $KING from @thekingprotocol $wstETH from @LidoFinance $USDe, $sUSDe, and $ENA from @ethena $ezETH from @RenzoAI $rsETH from @KelpDAO $EUL from @eulerfinance $XVELO from @VelodromeFi $oUSDT from @OpenUSDT_xyz $USDT0 from @StargateFinance and @tether Note: DeBank no longer supports Swellchain, so it won't show assets on the chain. Please check this sheet to see your Swellchain holdings: docs.google.com/spreadsheets… Note that this list is not exhaustive and may not cover all funds on the chain. Please verify your holdings using the block explorer: explorer.swellnetwork.io/ If you need help, click the frog in the Swell app or open a support ticket in our Telegram. And if you haven't yet, check out @FaroTrading, the app that turns market data into trades. Research, validate, and execute on Hyperliquid through one AI-native platform.
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The Swellchain shutdown has begun. You must bridge your assets off Swellchain by June 23. Anything left on the chain after that date will be unrecoverable. Bridge out via Superbridge: superbridge.swellnetwork.io/ Assets from the following protocols still remain on the chain: $weETH from @ether_fi $KING from @thekingprotocol $wstETH from @LidoFinance $USDe, $sUSDe, and $ENA from @ethena $ezETH from @RenzoAI $rsETH from @KelpDAO $EUL from @eulerfinance $XVELO from @VelodromeFi $oUSDT from @OpenUSDT_xyz $USDT0 from @StargateFinance and @tether Note: DeBank no longer supports Swellchain, so it won't show assets on the chain. Please check this sheet to see your Swellchain holdings: docs.google.com/spreadsheets… Note that this list is not exhaustive and may not cover all funds on the chain. Please verify your holdings using the block explorer: explorer.swellnetwork.io/ If you need help, click the frog in the Swell app or open a support ticket in our Telegram. And if you haven't yet, check out @FaroTrading, the app that turns market data into trades. Research, validate, and execute on Hyperliquid through one AI-native platform.
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More info: xitter.cf/swellnetworkio/status/…
Swell
@swellnetworkioApr 28

Sunsetting Swellchain: From L2 to Faro

Article · @swellnetworkio
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Final call: Swellchain will be closing permanently from Monday 15 June. Please withdraw your funds ahead of that date to avoid losing access to them.
Swell
@swellnetworkioApr 28

Sunsetting Swellchain: From L2 to Faro

Article · @swellnetworkio
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Service restored. Swellchain is now fully operational. Please be reminded that the chain will be closed down permanently from June 15th. All funds must be withdrawn before that day.
Swell
@swellnetworkioJun 5
Swellchain status update We're aware of an unplanned outage affecting Swellchain, caused by an issue with our hosting partner. We expect the downtime to last a few hours. Funds are safe and we'll share further updates as soon as we can. Thanks for your patience.
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Swellchain status update We're aware of an unplanned outage affecting Swellchain, caused by an issue with our hosting partner. We expect the downtime to last a few hours. Funds are safe and we'll share further updates as soon as we can. Thanks for your patience.
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May burn update: 900M $SWELL has now been destroyed. 9% of total supply burned through regular fee flow auctions and the monthly 0.5% supply reduction program.
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