Ethereum Staking Protocol Swell Network Ready For New Features In April

Key Points:

• Swell Network to Launch New Features in April. Swell Update Includes DAO Creation and Staking Opportunities
• Swell aims to provide low-cost, decentralized finance options.
• New features will allow Swell to attract users as ETH staking is predicted to explode this year.

According to the official blog, the Ethereum Swell Network pledge protocol will update the protocol’s functions on the Ethereum mainnet in April.

Breakthrough changes include incentivizing the Swell Ether liquidity commitment token and realizing complete hybridization and substitution. Liquidity, moderated set of node operators, purpose-built vault policies, and more. Until then, the mortgage deposit will continue to be withheld.

Swell is a ETH liquid staking and yield optimizer protocol. Stake ETH with Swell to receive swETH which is a fully liquid and composable liquid staking token (LST).

This marks the beginning of a new and improved Swell with the protected launch of the Ethereum Mainnet scheduled for April 2023. Until then, staking deposits continue to be paused.

Swell Network currently features:

• Rewards Liquidity Staking Token (LST) – Swell Ether (swETH)
• Full aggregability, fungibility, and liquidity
• Moderated button operator
• Purpose-built vault strategy
• And more.

It is reported that existing Swell bettors will not need to take any action and will make a seamless transition to the new version. The DAO abandoned the previous design model around atomic/NFT deposits.

Prior to that, in March of last year, Swell Network completed a $3.75 million seed funding round, led by Framework Ventures.

Not only Swell but ETH staking protocols are getting a lot of community attention lately. Ethereum’s successful transition from proof-of-work (PoW) to proof-of-stake (PoS) has made ETH one of the most important sources of profit in DeFI.

In particular, since the successful The Merge last September, Ethereum has made significant progress. With a successful Shanghai upgrade, investors can cancel their ETH staking, which could cause the predicted ETH staking volume to increase by at least 50%.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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