Enzyme has just announced its partnership with Swell’s Super swETH Vault. It will incentivize Swell staking players and decentralise the Ethereum liquid staking ecosystem. Swell, a popular liquid staking protocol with over 48,000 ETH, announced an Enzyme-powered Vault. This Vault attempts to boost stETH holders’ income and diversify Ethereum staking by involving many operators. With a TVL above $9 million and over 360 depositors, Swell’s Enzyme Vault has made great progress.
Swell’s Super swETH Vault and Enzyme Tackle Ethereum Staking Concerns
Since its April 2023 launch, Swell has been a popular decentralised finance (DeFi) venture. A non-custodial liquid staking technique is appealing to staking enthusiasts. The system’s flagship token, swETH, offers over 40 integrations and robust security features like Sigma Prime audits and Chainlink Proof of Reserves. Swell continues to promote Ethereum’s decentralisation and anti-censorship principles.
Swell’s Super swETH Vault, which works with Enzyme, promotes a more diversified Ethereum staking strategy in response to concerns about power concentration in the liquid staking market. In this, a single protocol holds a large portion of staked ETH. Incentivize stETH holders to deposit funds into the Vault, which will be unstaked and converted into swETH. This project uses Enzyme’s new native Lido unstaking functionality to reduce centralization and improve Ethereum’s security and impartiality.
Enzyme and Swell Partner for Decentralized Money
Swell’s Super swETH Vault depositors can earn 3%–4% staking payouts. They will also earn 100% of Swell DAO’s diverted revenue, which is 10% of Swell’s Total Value Locked staking rewards. Depositors can also get Pearls for the next $SWELL Voyage airdrop. Enzymes are crucial to this project because they provide a reliable and adaptable on-chain architecture for a stETH Vault. Enzyme’s non-custodial smart contracts provide stakers full control over their cash. Continuous transparency and a dynamic dashboard allow real-time tracking of the total amount locked.
Although Enzyme is not formally affiliated with the programme, it takes pride in supporting Swell as it transforms Ethereum staking by addressing centralization. This partnership shows the shared commitment to making Ethereum more fair and dependable, ensuring its legitimacy as a decentralised application platform.
Enzyme technology combined with Swell’s Super swETH Vault advances decentralised money. As Ethereum develops, efforts like these ensure its integrity, security, and decentralisation. Enzyme and Swell’s partnership promotes a more inclusive and robust Ethereum environment.
