Swell Airdrop x Eigenlayer — Staking & Restaking Guide
An exciting airdrop opportunity is emerging for DeFi enthusiasts thanks to a new collaboration between liquid staking protocol Swell and optimized yield platform EigenLayer. By staking and restaking together, users can earn bonus rewards and become eligible for free token distributions.
What is Swell?
Swell is a liquid staking protocol for ETH 2.0. Users can stake their ETH to receive swETH — a yield-bearing token representing their staked deposit. Swell adds DeFi functionality to staked assets so they can be used across other protocols to earn additional yield.
The protocol is governed by SWELL token holders through the Swell DAO. SWELL holders guide decisions and benefit from the protocol’s growth through fee distributions and other incentives.
What is EigenLayer?
EigenLayer lets users deposit assets into tranches that automatically rotate between the highest yield opportunities. By grouping funds together, EigenLayer can achieve lower gas fees and access yield strategies regular users can’t.
Users earn governance points and rewards based on their deposits. EigenLayer has distributed large airdrops in the past to active tranche users.
The Swell x EigenLayer Airdrop Opportunity
Swell has now integrated swETH into EigenLayer, allowing users to “restake” their liquid staked ETH.
Users who restake swETH on EigenLayer can earn:
- 30 bonus Swell Pearls per swETH restaked
- Additional EigenLayer governance points
- Eligibility for upcoming airdrops from both protocols
This unique dual rewards system incentivizes users to engage with both Swell and EigenLayer as they expand in the ETH staking arena.
How to Participate in the Airdrop
Follow these steps to maximize your rewards:
- Stake ETH on Swell to receive swETH
- Restake the swETH on EigenLayer
- Earn bonus Swell Pearls and EigenLayer points
- Refer friends to increase rewards
- Hold SWELL and follow both protocols for airdrop updates
The airdrop rewards will help bootstrap new liquidity and community involvement as Swell and EigenLayer scale up their collaboration. Taking advantage of this cross-protocol incentive is a great way to increase your staking yields and potentially get free coins.
Conclusion
Dual rewards systems like Swell and EigenLayer’s partnership are changing DeFi’s reward paradigm. Savvy users can now multiply their earnings across protocols while diversifying their risk exposure.
If you want to stay on top of the latest yield opportunities and airdrops, pay attention to creative protocol mashups like this one. The competitions between ecosystems will only heat up from here, meaning more bonuses for users willing to explore.
