Swell Network has launched Swellchain, a new Layer 2 “restaking chain” positioned as a hub for restaked assets and built as an Optimistic Rollup on the OP Stack within the Optimism Superchain. The chain is secured via a Proof of Restake mechanism that uses liquid restaked assets (such as Swell’s rswETH) to secure core rollup services, aiming to combine Ethereum settlement with native yield, improved decentralization, and better liquidity for staked and restaked ETH. The launch follows a pre-launch campaign that attracted more than $1 billion in deposits from leading restaking protocols including Swell, EtherFi, Renzo, and others. To incentivize early adoption, Swell has announced that users who bridge and hold assets on Swellchain by December 31 will share a distribution of 31,250,000 SWELL tokens, with the reward program focused on users who bridge in the initial weeks after launch and keep assets on the chain. Swellchain is supported by a broad ecosystem of partners—such as EtherFi, Renzo, Kelp, EigenLayer, Symbiotic, RedStone, AltLayer, and Ethena—and is intended to become a primary liquidity center for liquid staked and restaked tokens, offering users additional reward opportunities via dApps built on the chain. This development matters because it extends Swell’s liquid staking and restaking model from the protocol level (swETH, rswETH) to a full L2 environment, potentially deepening liquidity and composability for restaked assets across the Ethereum and Superchain ecosystems.

AI-generated background, compiled from web sources — not editorial content.

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