Swell Network
Building the infrastructure for liquid restaking on Ethereum — so anyone can earn restaking rewards without locking up capital.
Our Mission
The Swell Network protocol was built on a straightforward premise: restaking on Ethereum should not require technical expertise, 32 ETH minimums, or weeks locked out of DeFi. Too many people were priced out of validator rewards. That needed to change.
The protocol issues rswETH — an ERC-20 liquid restaking token that accrues value relative to ETH as underlying restaking rewards accumulate. Hold it. Use it in DeFi. Withdraw when you want. The Swell Network platform handles the rest, routing ETH through EigenLayer-based restaking infrastructure at scale.
Since launch, over 10,000 ETH has been restaked through the protocol across more than 39,000 individual accounts. The commission structure is simple: 10% on earned rewards, nothing else hidden.
Technology
Swell Network's protocol operates through two primary smart contracts audited and deployed on Ethereum mainnet. The rswETH contract at 0xFAe103DC9cf190eD75350761e95403b7b8aFa6c0 handles token issuance and redemption. A separate deposit manager contract routes incoming ETH to validator operators and EigenLayer actively validated services.
The exchange rate between rswETH and ETH is not static. It rises as restaking rewards accumulate. Currently 1 rswETH equals approximately 1.0707 ETH — reflecting the yield that has compounded since inception. Token holders do not need to claim or compound anything manually.
The team behind Swell Network has also built Swell L2, an Ethereum layer-2 network designed to deepen DeFi integrations for restaked assets. Bridging between Ethereum mainnet and the L2 is supported natively through the Swell Network platform. Arbitrum-style rollup architecture informs parts of the design, though the implementation is purpose-built for restaking economics.
Smart contract security is treated as a continuous process, not a one-time checkbox. Multiple independent audit rounds have covered both core contracts. The protocol does not hold private keys to validator withdrawal credentials — the architecture is non-custodial at the validator layer.
Our Approach
Honestly, the DeFi space is full of protocols that overcomplicate things. The Swell Network team took a different route. The staking interface exposes one primary action — deposit ETH, receive rswETH — and everything else is handled in the background. That simplicity is deliberate.
On the infrastructure side, the approach is more involved. Operator selection for restaking is based on performance metrics, slashing history, and geographic distribution of nodes. The protocol does not rely on a single operator or client type. Diversity here directly reduces correlated failure risk.
Fee design follows the same logic. A flat 10% commission on rewards is easy to audit and easy to model. No performance fees, no withdrawal penalties, no tiered structures that benefit larger depositors disproportionately.
Swell Network's rswETH is composable with the broader Ethereum DeFi ecosystem. Because it is a standard ERC-20 token, it integrates natively with lending markets, decentralized exchanges, yield aggregators, and other protocols without custom adapter contracts.
The Team
The team behind Swell Network spans protocol engineering, smart contract security, economic design, and product development. Core contributors have backgrounds in Ethereum client development, institutional DeFi infrastructure, and layer-2 protocol research.
Development is structured around a small, focused core team with contribution from a wider network of external researchers and security reviewers. The protocol has been public since its initial deployment, and the development roadmap — including Swell L2 expansion and additional EigenLayer AVS integrations — is discussed openly with the community.
Governance is a work in progress. The Swell Network platform currently operates with a multi-sig controlling critical parameters, with plans to transition toward on-chain governance as the protocol matures. Token holder participation in protocol decisions is a stated long-term objective.
Protocol Numbers
Where to Go Next
If you want a deeper understanding of how Swell Network works — including how rswETH accrues value, how withdrawals are processed, and how restaking differs from standard ETH staking — the Swell Network knowledge base covers each of these in detail.
To start restaking or connect your wallet, return to the Swell Network home page. The interface supports standard Ethereum wallets and requires no registration.