Hotcoin Research｜Making Money in WEB3: Sun Ge's Airdrop Secrets: Complete Guide to Swell Network

Case Study: Sun Yuchen's On-Chain Operations

Sun Yuchen is the founder and CEO of TRON, and his on-chain operations have always attracted attention. Here are his recent operation records on Swell L2 and EigenLayer:

1. On May 4, Sun Yuchen deposited 120,000 eETH into Swell L2, valued at approximately $376 million, accounting for 46.6% of the total deposits in Swell L2. This large deposit made Sun Yuchen the largest single depositor in Swell L2.

2. Sun Yuchen is also an active participant in EigenLayer's re-staking program, becoming the first airdrop recipient.

3. In addition, Sun Yuchen has participated in several re-staking projects such as Puffer Finance and Ether.Fi, demonstrating his strong interest in the staking and re-staking ecosystem.

Through the example of Sun Yuchen, we can see how large funds operate within the re-staking ecosystem and the potential to earn substantial airdrop rewards and points by participating in pre-launch activities.

Project Introduction

Swell Network is an ETH liquid staking protocol built for stakers, node operators, and the Ethereum ecosystem. Users can stake ETH and receive swETH to earn DeFi yields. The upcoming L2 for Restaking will allow users to deposit swETH, rswETH, and other supported assets during the pre-launch phase to receive airdrops from projects built within this new re-staking ecosystem.

Swell L2 is an L2 for re-staking. Built on the Polygon CDK, the re-staking rollup collaborates with AltLayer, Chainlink, and Redstone, utilizing EigenDA and Polygon AggLayer. It is funded by Polygon Labs.

Project Progress

Currently, the mainnet of Swell Network has been launched, and the team is actively developing and testing the Swell L2 network. Swell L2 is currently conducting a pre-deposit airdrop activity, where users can participate to earn airdrop rewards and points. This phase is primarily aimed at ensuring the platform's stability and security, and preparing for the future launch of the L2 mainnet.

According to the latest data, the total deposits during the pre-launch phase of Swell L2 have reached $1.7 billion, with 45,470 depositors participating. The total staking amount of the liquid staking token swETH is $617.89 million, corresponding to a staked ETH amount of 171,910, with an annual percentage rate (APR) of 3.80%, and the number of users participating in staking is 124,561. The total staking amount of the re-staking token rswETH is $463.4 million, corresponding to a re-staked ETH amount of 130,613, with an APR of 3.99%, and the number of users participating in re-staking is 35,301. These figures indicate that Swell L2's liquid staking and re-staking activities have attracted a large number of users and funds, showing strong market demand and good development prospects.

So far, Swell Network has received funding from Polygon Labs and has partnered with several well-known projects, including AltLayer, Chainlink, and Redstone. Additionally, Swell is promoting technical integration with EigenDA and Polygon AggLayer to further enhance the efficiency and security of its re-staking ecosystem.

In the coming months, the team plans to gradually open more features, including liquid staking, re-staking, and deep integration with other DeFi projects. Users can follow official channels (such as the official website and social media) to get the latest project updates and activity information.

How to Participate

1. Visit the Swell Network official website: https://app.swellnetwork.io/restake

Connect your wallet (supports MetaMask and other compatible Ethereum wallets).

Enter the amount of ETH you want to stake on the staking page (recommended 0.1 ETH or more), then click "restake".

2. After confirming the transaction, your wallet will receive the corresponding amount of rswETH.

3. Go to the Swell L2 page and select the token pre-deposit function.

Enter the amount of rswETH you want to deposit and perform the authorization operation (the deposited tokens can be withdrawn at any time, so there’s no need to worry about not being able to retrieve funds when in use).

4. After completing the authorization, click "deposit" to make the deposit.

5. After the deposit is completed, you can view and withdraw your deposits at any time using the withdrawal button. Note that deposits withdrawn before the mainnet launch will only receive a small amount of airdrop rewards.

Strategy and Yield Analysis

Participating in Swell Network's airdrop and staking activities can yield benefits in several ways:

1. Airdrop rewards: By participating in deposit activities during the pre-launch phase, you will have the opportunity to receive airdrop rewards from Swell and other partner projects (such as ION Protocol, Ambient Finance, Brahma Finance, etc.).

2. Local points and rewards: The deposited tokens will earn local points and rewards from Swell L2, including EigenLayer points and other platform reward points. These points can be redeemed for various rewards in the future ecosystem.

3. Staking yields: By staking ETH to obtain rswETH and re-staking on Swell L2, you will continuously earn staking yields and re-staking rewards.

Overall, participating in Swell Network's airdrop and staking activities allows you to receive direct airdrop rewards while also gaining long-term benefits through staking and re-staking. Meanwhile, the re-staking ecosystem of Swell L2 will further enhance the value and liquidity of tokens, providing users with more opportunities for profit.

Risks

1. Technical risks: As an emerging DeFi project, Swell Network's technical implementation and security still need to be tested by the market. There may be potential technical vulnerabilities and security risks before the official launch of the mainnet.

2. Market risks: The cryptocurrency market is highly volatile, and the prices of ETH and rswETH may be affected by market sentiment and macroeconomic factors, which could impact users' staking yields.

3. Compliance risks: DeFi projects face a constantly changing regulatory environment, and Swell Network may need to address compliance requirements from different jurisdictions, which could affect the project's development and the convenience of user participation.

4. Operational risks: Users need to perform multiple authorization and transaction operations during the staking and deposit process, and any operational errors may lead to loss of funds or inability to participate in airdrop activities in a timely manner.

Conclusion

Participating in Swell Network's airdrop and staking activities can bring multiple benefits, but users also need to understand and accept the potential risks. By gaining a detailed understanding of the project's progress and operational processes, users can better seize participation opportunities and maximize their returns.

Keeping up with the latest developments of Swell Network, actively participating in pre-launch activities, and utilizing various strategies to enhance returns are important ways for investors to gain returns in the DeFi space.

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