What is SWELL

I. Project Introduction

1. What Is Swell? Swell is a DeFi protocol suite built around Ethereum staking and restaking. It offers the swETH liquid staking asset along with restaking-related products such as rswETH and swBTC, and previously extended its on-chain application layer through Swellchain. In 2026, Swell announced its evolution toward Faro, entering a new phase of product and brand development. 2. How Does Swell Work? Swell's core model allows users to deposit ETH or related assets and receive liquid staking or restaking assets that can continue to be used within DeFi. SWELL handles governance and security-related functions. Official descriptions of SWELL emphasize that holders can participate in liquidity incentives, parameter adjustments, and ecosystem matters through DAO governance. On a more specific utility level, the Fee Flow mechanism launched in 2026 periodically auctions protocol revenue into SWELL and burns it, making SWELL a central asset in the protocol's revenue stream. 3. Who Founded Swell? Swell was founded by Daniel Dizon, who is referred to in official materials as both the founder of Swell Labs and the co-founder and CEO of Swell Network. The Swell DAO governs SWELL and drives protocol development. Swell closed a USD 3.75 million seed round in March 2022. 4. Swell Tokenomics SWELL has a maximum total supply of 10,000,000,000 tokens. The official token launch announcement disclosed that the Voyage claim represents 8.5% of the total supply, with an initial circulating supply of approximately 13% at TGE. SWELL is used for both governance and restaking in connection with Swell infrastructure and application security. By 2026, the Fee Flow mechanism added a significant additional use: protocol revenue is auctioned into SWELL, which is then sent to a burn address, creating deflationary pressure. 5. Timeline of Key Milestones • November 2024: SWELL is officially launched and the Voyage claim opens. • March 2026: Swell activates the Fee Flow mechanism, using SWELL to bid on protocol revenue and burning the acquired tokens. • April 2026: Swell announces the shutdown of Swellchain and the reallocation of resources toward Faro; the announcement requires users to initiate withdrawals by June 15, with network operations planned to cease on June 30. swETH, rswETH, and SWELL on Ethereum are unaffected by this change.​

II. Cryptocurrency Information

Name: Swell Network (SWELL)

III. Related Links

Official Website:https://www.swellnetwork.io/

Whitepaper:https://docs.swellnetwork.io/

Blockchain Explorer:https://etherscan.io/address/0x0a6E7Ba5042B38349e437ec6Db6214AEC7B35676

Social Media:

https://x.com/swellnetworkio

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.