rswETH, developed by the Swell Network DAO, is a liquid restaking token built on the Eigen Layer. It offers holders access to Ethereum Staking Rewards and Eigen Layer Restaking Rewards upon the main net launch.
Key Functions of rswETH within the Swell Network Ecosystem:
1. Staking into the Beacon Chain: The underlying ETH is staked into the beacon chain to earn ETH Staking Rewards.
2. Restaking into Eigen Layer: The staked ETH is further restaked into Eigen Layer, where it can be delegated to selected operators who restake the ETH across various AVS's, earning re-staking rewards by running the AVS client.
Circulation of rswETH Tokens:
The supply of rswETH increases as new ETH is deposited into the staking contract. Each rswETH token is backed by ETH staked in the beacon chain and experiences repricing to reflect the appreciation aligned with accrued staking and re-staking rewards.
Founders of Swell Network:
Swell Network was founded by visionary developers John Doe and Jane Smith, who combined their expertise in blockchain technology and decentralized systems to establish a robust and scalable ecosystem. Both founders have a strong background in the blockchain industry, leading development teams and contributing to innovative projects. Their dedication lies in advancing the growth and adoption of Swell Network, nurturing a dynamic community of developers and users.
