Swell Network completes the first stage of its multi-stage Guarded Launch

Swell Network DAO is pleased to announce that the first stage of our Guarded Launch has now concluded. The DAO is now preparing for Stage 2.

Swell Network DAO is pleased to announce that the first stage of our Guarded Launch has now concluded
Swell Network DAO is pleased to announce that the first stage of our Guarded Launch has now concluded. The DAO is now preparing for Stage 2.

Swell Network is a next-generation liquid ETH staking protocol that is built for stakers, node operators, and the Ethereum ecosystem. Following a successful Ethereum merge, the protocol is now looking to ramp up in a steady and controlled manner.

TL;DR

  • Swell Network DAO launched on the Ethereum Mainnet in late August via a Guarded Launch.
  • The Guarded Launch is split into 4 distinct stages based on achieving a set ETH threshold coupled with stage gate approval by the DAO.
  • Stage 1 of the Guarded Launch is complete as of mid September.
  • The DAO is now preparing for Stage 2 of the Launch following the successful Merge of the Ethereum blockchain into a fully Proof of Stake consensus mechanism.

Stage 1: Key Highlights

The protocol received numerous applications to be a part of its Verified Operator program. After extensive review and due diligence, the DAO successfully onboarded 8 of the leading institutional Ethereum node operators in the industry.

These operators were selected on the basis of experience, track record, and overall expertise in running Ethereum nodes at scale. The Verified Operator Launch Partners included:

The key outcome from Stage 1 was to ensure effective and efficient operations of a single validator on Swell Network. This outcome was achieved setting the foundation for a steady ramp-up of validators on the liquid staking network.

Planning for Stage 2

With Stage 1 now concluded, the DAO will be moving into a brief period of review prior to commencing Stage 2. During this time, ETH deposits have been paused in the interim. Further updates will be provided in the coming days for the opening of Stage 2.

Join the Community

Thank you for reading. If you have any questions, or just want to hang out with other Ethereum liquid staking enthusiasts, please join our public Discord server and say hello! You can also stay up to date on the protocol by following Swell on Twitter.