Ethereum Staking Protocol Swell Unveils Layer-2 Rollup With $1B Total Value Locked
Summary
Ethereum staking protocol Swell has launched a layer-2 rollup with $1 billion in total value locked (TVL) using Polygon's chain development kit (CDK). The rollup was developed in collaboration with Ethereum scaler AltLayer and crypto staking project EigenLayer. The rollup, termed a "restaked rollup", offers services such as decentralized sequencing, verification, and faster finality. Restaking allows ether (ETH) tokens, initially deposited as security for the network, to secure additional blockchains and protocols. Swell's founder, Daniel Dizon, sees the expansion of Swell's liquid-staking offering to layer 2 as a logical progression for the project.
