Swell Network News: L2 Update, New Checker Tool And Vesting Plans

Swell Network News: Update on L2, New Checker Tool And Vesting Options

A new Deep Dive from Swell Network has arrived, bringing thrilling updates about the Swell L2 initiative, the launch of a new checker tool, and significant changes to the Voyage vesting process. Dive in to learn more about these developments!

Swell Network News: Exciting Updates For Swell Users

• Swell L2 News

Swell DAO is undergoing a strategic pivot based on community feedback to accelerate the launch of Swell L2. The decision to transition away from the Polygon CDK aims to align more closely with Swell's evolving priorities and growth opportunities. 

While the team remains committed to the innovative ecosystem that Polygon is creating, they will explore alternative collaboration methods within it.

To enhance the decentralization and scalability of Swell L2, Swell is partnering with permissionless restaking platforms, Symbiotic and Eigenlayer. 

The upcoming Swell Network Token (SWELL) will play a crucial role in this initiative by being restaked to bolster the security of the Symbiotic networks. This collaboration will ensure robust services such as sequencing, verification, and finality for Swell L2, addressing centralization and security challenges faced by other L2 solutions. 

Additionally, using SWELL, alongside rswETH and swBTC, will generate a unique flywheel of restaking rewards for SWELL stakers securing the Symbiotic networks.

• New Checker Tool Released

In line with its ongoing efforts to enhance user experience, Swell has launched a new checker tool. This tool aims to assist users in managing their tokens and navigating the Swell ecosystem more effectively. It will provide valuable insights and facilitate smoother interactions within the platform, including updates related to the Swell Coin and its functionalities.

• Voyage Vesting Update

The Voyage whale vesting process has been updated after community consultations. The top 250 wallets, ranked by the number of Pearls, will now have the option to choose between two vesting alternatives. 

To make a selection, users must connect their wallets to the Voyage dashboard on the Swell dApp. The deadline for this decision is October 27th at 23:59 UTC, after which the vesting will default to Option 1. 

Furthermore, the Sybil review process has been completed, ensuring accurate data and removing false positives. The Voyage Loyalty Bonus criteria have also been revised to better reflect the contributions of long-term stakers.

Conclusion

With the latest updates from the Swell Network, including strategic shifts in L2 development, new tools, and improved vesting opportunities, the community can look forward to an exciting future. Stay tuned for further developments, including announcements about the Swell Network Airdrop.

Join the conversation in the Swell Network Telegram for real-time updates and engage with the community via the Swell Network Telegram bot.