Swell Allocates 5% of Token Supply to Voyage Airdrop
Swell, a prominent non-custodial liquid staking protocol built on the Ethereum blockchain, has recently launched its highly anticipated Swell Voyage Airdrop campaign. This exciting initiative offers users the opportunity to earn pearls by engaging in various tasks, including swETH staking and liquidity provision (LP). These pearls can later be redeemed for the platform’s native token, $SWELL, during its Token Generation Event (TGE) scheduled for later this year.
One of the notable aspects of this airdrop campaign is the significant allocation of tokens. Swell has earmarked at least 50 million $SWELL tokens, which accounts for 5% of the total token supply, for distribution through the Voyage program. This allocation is expected to reward active participants and foster community engagement within the Swell ecosystem.
THE $SWELL VOYAGE AIRDROP IS LIVE!
50M $SWELL tokens (5%) are allocated to the Voyage
Collect pearls now by staking and LPing swETH, then redeem them for $SWELL at the TGE later this year
— Swell (@swellnetworkio) June 1, 2023
The Swell project has gained substantial backing from influential investors and venture capital firms. In a recent seed funding round, Swell secured an impressive $3.75 million in investments, attracting support from notable entities such as Framework Ventures, Maven 11, and renowned entrepreneur Mark Cuban. This financial backing not only provides a vote of confidence in Swell’s potential but also demonstrates the growing interest in liquid staking as a promising avenue within the decentralized finance (DeFi) space.
The Swell Voyage Airdrop campaign is now live and presents an excellent opportunity for users to participate in the platform’s growth while earning rewards. By staking swETH and engaging in LP activities, users can accumulate pearls that will ultimately translate into $SWELL tokens during the TGE. These tokens can then be utilized within the Swell ecosystem for various purposes, including governance participation and accessing additional services.
Swell’s commitment to transparency and community involvement is evident throughout the project. The total distribution of $SWELL tokens through the Voyage program is directly influenced by the Total Value Locked (TVL) within the platform. Currently, 50 million $SWELL tokens have been allocated for release, with the potential for an increase if Voyagers reach the community milestone of 50,000 ETH in locked value. Users can monitor the progress towards this goal through their personalized Voyage dashboard, ensuring transparency and accountability.
Furthermore, Swell distinguishes itself by offering zero staking fees, allowing users to retain the entirety of their staking rewards. This approach aligns with the ethos of decentralization and empowers participants to benefit fully from their staking activities, similar to running their own node.
Security is a top priority for Swell, and the project takes comprehensive measures to ensure the protection of users’ assets. The platform collaborates with industry-leading node operators, undergoes regular audits conducted by organizations such as sigp.io, and maintains bug bounty programs through immunefi. Additionally, Swell provides proof of reserves with the assistance of Chainlink, further solidifying the trust and credibility it aims to establish within the DeFi ecosystem.
The Swell Voyage Airdrop has already generated substantial interest, with numerous users expressing their enthusiasm for the project. Swell has extended an opportunity for 20 lucky followers to receive 100 pearls, representing a share of future $SWELL token allocation. To participate, followers are encouraged to quote tweet the relevant thread and explain their excitement for the Swell Voyage.
Swell continues to position itself as a rising star in the liquid staking landscape, attracting attention from both investors and users alike. With the Swell Voyage Airdrop campaign in full swing, participants have the chance to earn rewards and actively contribute to the project’s development. As the platform’s Token Generation Event draws near, the Swell ecosystem anticipates further growth and increased engagement from the community.
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