Swell plans Layer 2 ‘restaked rollup’ alongside native governance token

Liquid resttaking platform Swell Network will launch its own Layer 2 rollup chain, leveraging several features of EigenLayer.

Swell’s rollup will deviate from traditional Layer 2 designs by introducing a “reposted merge” approach – a specialized Layer 2 framework developed by AltLayer.

To develop the Layer 2 network, Swell will use Polygon’s chain development kit (CDK) — where AltLayer provides support. Themainnet is scheduled for the second half of this year.

This Layer 2 network claims to offer Swell users benefits including native restaking yield (via Eigen), better scalability, and lower costs. The designated gas token for the network will be rswETH, with Swell’s upcoming token used for governance.

Integration of the actively validated services of Eigen and EigenDA

The updated network rollup structure will include Active Validated Services (AVS), specialized services built on top of EigenLayer, enabling features such as decentralized sequencing and authentication through EigenLayer’s re-recording mechanism. Additionally, the network will integrate EigenDA to meet data availability requirements.

“Extending Swell’s fluid retrieval offering to the L2 fluid retrieval is the next logical step for the Swell community and DAO. It expands the protocol’s existing vision to deliver the best fluid retrieval experience for DeFi,” said Swell founder Daniel Dizon.

Swell started in 2023 as a liquid ETH staking protocol liquid. Later, it also shifted its focus to fluid recovery products. Swell was unveiled in January rswETHa liquid redraw token that integrates directly with EigenLayer. Swell has a locked total value $1.1 billion about liquid ether discontinuation and liquid withdrawal products.