Restaked Swell Ethereum (RSWETH) is a native liquid restaking token on the Swell Network, allowing users to unlock liquidity while earning staking rewards. It is a liquid token that can be used in other DeFi protocols, providing flexibility and maximizing earnings. RSWETH is part of the liquid restaking movement, which takes traditional liquid staking a step further by generating additional rewards while actively participating in the DeFi ecosystem.
Restaked Swell Ethereum (rswETH) is a liquid restaking token (LRT) that allows users to unlock liquidity while continuing to earn staking rewards. Here are the key ways rswETH is used:
Uncapped Access to EigenLayer:
- rswETH holders have uncapped access to EigenLayer restaking points, which measure their contribution to the shared security of the EigenLayer ecosystem.
Participation in DeFi:
- rswETH is a reward-bearing ERC-20 token that can be used in DeFi protocols, allowing users to maximize their earnings on multiple fronts.
Zero Fees for Initial Period:
- For the first 30 days after launch, rswETH holders pay zero staking fees.
Earning Pearls and Points:
- rswETH holders earn Pearls, which represent a claim to future SWELL tokens, and EigenLayer Restaked Points, which measure their contribution to the shared security of the EigenLayer ecosystem.
Future Restaking Rewards:
- As EigenLayer onboards Actively Validated Services (AVSs) to mainnet, restaking yields will flow to rswETH holders.
Integration with Pendle Finance:
- rswETH can be staked using Pendle Finance, involving a few simple steps to connect a wallet and begin staking.
- Future Absorption of LSTs:
- Future versions of rswETH are expected to enable swETH to be directly restaked into rswETH, gradually absorbing Liquid Staking Tokens (LSTs).
Overall, rswETH offers users a flexible and rewarding way to participate in the DeFi ecosystem while contributing to the security of EigenLayer.
To store Restaked Swell Ethereum (RSWETH) tokens, you need to choose a reliable crypto wallet. Here are the steps to follow:
Choose a Crypto Wallet: Select a wallet that works well in your area, accepts your payment method, and follows your preferred policies. Popular and reliable options include Coinbase Wallet, MetaMask, and TrustWallet. You can download the wallet extension on Google Chrome or the wallet app from the iOS App Store or Google Play.
Set up your Wallet: Create an account by providing your personal information and selecting a strong password. You will be given a Secret recovery phrase or Seed Words, which are crucial in case you lose your wallet. Accurately note them down before proceeding.
Store Your RSWETH: Once you have set up your wallet, you can store your RSWETH tokens securely. Make sure to keep your wallet and recovery phrase safe to avoid any potential losses.
For beginners, hot wallets are recommended for quick and online payments, while cold wallets are more secure for long-term storage of large amounts of cryptocurrency.
To buy Restaked Swell Ethereum (RSWETH) tokens, follow these steps:
Choose a Crypto Wallet: Select a reliable crypto wallet such as Coinbase Wallet, MetaMask, or TrustWallet. Ensure it is compatible with your location and payment method. For beginners, hot wallets are recommended for quick transactions, while cold wallets are more secure for long-term storage.
Set up Your Wallet: Create an account, provide personal information, and set a strong password. You will receive a secret recovery phrase or seed words, which you should note down carefully.
Buy Base Currency: Choose a cryptocurrency exchange platform and purchase a base currency, such as Bitcoin, Ethereum, or Tether. This will be used to trade RSWETH.
Transfer Funds to Wallet: Withdraw the base currency to your crypto wallet by providing your wallet address and the amount to transfer.
Select a Decentralized Exchange (DEX): Choose a DEX that supports your wallet, such as Pancake Swap or Uniswap. Ensure the exchange has sufficient liquidity for the trading pair.
Buy RSWETH: Connect your wallet to the DEX and select RSWETH from the list. Enter the amount you want to trade and complete the transaction.
- Add RSWETH to MetaMask (Optional): If you use MetaMask, you can import RSWETH by copying its contract address (0xfae103dc9cf190ed75350761e95403b7b8afa6c0) and adding it manually or with one click on CoinGecko.
Popular exchanges to buy and trade RSWETH include Pancakeswap V3, Uniswap V3, and Balancer V2.