Swell Network will be performing an architecture upgrade to improve performance and scale of the protocol.
Following from our previous posts, Swell identified an issue with regard to timeliness of validator activation under certain conditions. The issue was caused by an external edge case relating to the Ethereum blockchain and our previous architecture interacted with it.
Guided by our principles of launching with only the best possible product that can scale in a highly secure and performant manner, staking deposits are temporarily postponed to enable the protocol upgrades to occur. These upgrades will mitigate the issue and result in a much stronger, secure, and more scalable product for our community and users.
The design of upgrades have been informed by collaboration with key members of the Ethereum Foundation as well as our protocol partners.
The implementation of these upgrades have cascade effects to our protocol roadmap and mainnet release timing. The protocol will be expediting the development and delivery of the upgrade whilst maintaining the highest standards of safety and security. Relevant audits have been lined up with an estimated window of reopening staking deposits in the new year.
For those who have participated in Stage 1 of our Guarded Launch, we appreciate your patience and support in the protocol. As a gesture of our appreciation, we will be shortly announcing an exclusive reward for being an early staker in Swell. This will provide you with some accelerated upside and future incentives down the line.
We would like to take the chance to thank all our current community members, backers and early adopters.
About Swell Network
Swell Network is a next-generation ETH liquid staking protocol that provides a superior and differentiated offering for stakers, node operators, and the ecosystem. Swell empowers stakers to earn higher yields, with more transparency in a fully non-custodial manner with improved UX. The protocol also enables node operators to run nodes for the network in a fully permissionless manner.