FAQ
Swell is a non-custodial liquid staking protocol. It aims to provide you with the best liquid staking experience, simplifies your access to DeFi, and secures the future of Ethereum.
swETH is an ERC-20 token. It refers to your staked ETH in the Ethereum blockchain, including any rewards and penalties from the consensus layer, and MEV (Miner Extractable Value) and reward tips from the execution layer.
The amount of swETH held won’t change with time, but the underlying value of the token will increase as the onchain rewards are accumulated.
Currently, you can only redeem swETH for ETH on the secondary market. Redemption is expected to start in Q1 2024. Please refer to the project's latest official information as the primary source.
1. Contract risk: Smart contracts could be hacked, or bugs in contracts could be exploited.
2. Depegging risk: Swell hasn't supported redemption yet, so swETH may be traded at a discount during extreme selling events. Any exit will cause your loss subject to the secondary market discount. However, when redemption is supported in Q1 2024, swETH holders will be able to exit at the full value of their assets. At any time, you can verify the ETH backing swETH through Chainlink PoR. https://data.chain.link/ethereum/mainnet/reserves/swell-eth-por
In such cases, your assets may be lost. Do it with caution.
Users who stake via OKX DeFi will also earn Pearls besides the bonus by just holding swETH. Please refer to the project’s latest official information as the primary source: https://app.swellnetwork.io/voyage
