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Swell

@swellnetworkio

Liquid Restaking for DeFi. swETH, rswETH, and Swellchain. https://nitter.cf/t.co/zjpSLumlmV

 Ethereum
t.me/+QvXky2aKNc8yYTI1
Joined May 2025
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swETH and rswETH incident update

swETH and rswETH incident update

Article · @swellnetworkio
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Claims are open. You can now claim SWELL, swETH, and rswETH left on Swellchain after the shutdown. app.swellnetwork.io/claim/sw… app.swellnetwork.io/claim/sw… app.swellnetwork.io/claim/rs…
Swell

Swell

Delivering the world’s best liquid restaking experience, simplifying access to DeFi, and securing the future of Ethereum.

app.swellnetwork.io
Swell (@swellnetworkio) profile pictureSwell
@swellnetworkioOct 16
Swellchain Shutdown: Recovery of Bridged swETH, rswETH, and SWELL SWELL, swETH, and rswETH left on Swellchain after the shutdown will soon be claimable on Ethereum. You can now check your balance. These tokens were bridged to Swellchain with LayerZero’s OFT (Omnichain Fungible Token) standard. They stayed there after the chain closed on June 23rd, 2026. Working with @LayerZero_Core, we have recovered these funds and made them available to claim. How we recovered the funds When you bridged tokens to Swellchain, the bridge locked them in a contract on Ethereum. Swellchain then minted the same amount to you. To release the locked tokens without Swellchain, we temporarily created a dummy OFT on BNB Chain (BSC). These steps were followed: 1. We removed Swellchain as a trusted source on the Ethereum bridge contracts. This makes sure no one can release the same funds twice. etherscan.io/tx/0x83a194e3f5… 2. We deployed temporary SWELL, swETH, and rswETH contracts on BSC. SWELL: 0xc1188Fa318BAa490B14241aF5cb3e64Fd38235ee swETH: 0x8c758BEDA8CCB374dC89B74D8CF2F908B1077d82 rswETH: 0x963132A22e8Dd516Ec65C2FAd3a17F280c27de2d 3. We connected the BSC contracts to the Ethereum bridge contracts. etherscan.io/tx/0x83a194e3f5… 4. On BSC, we minted temporary tokens to the Swell multisig. The amount equals the total supply of each token on Swellchain. These tokens had no value and existed only to unlock the tokens on Ethereum. bscscan.com/tx/0x0e13b99bee3… bscscan.com/tx/0x0ddd2702c80… 5. We bridged the temporary tokens from BSC to Ethereum. This released the locked tokens to the Swell multisig. bscscan.com/tx/0x0e13b99bee3… bscscan.com/tx/0x0ddd2702c80… 6. We disconnected BSC from the Ethereum bridge contracts. The temporary BSC tokens are valueless and have no further use. etherscan.io/tx/0x4979aed3dc… 7. The released tokens will be moved into a Merkle claim contract after a final claim check Recovered amounts SWELL: 72,773,835.73 swETH: 100.994705 rswETH: 55.282269 How to claim Go to the page for the asset you held on Swellchain: app.swellnetwork.io/claim/sw… app.swellnetwork.io/claim/sw… app.swellnetwork.io/claim/rs… 1. Connect the wallet you used on Swellchain. 2. Check your claimable amount. 3. Claims will open within the next two weeks. Transactions Bridging tx on BSC chain bscscan.com/tx/0x0e13b99bee3… bscscan.com/tx/0x0ddd2702c80… Released fund tx on Ethereum: etherscan.io/tx/0x1acf73a849… etherscan.io/tx/0xdd1ef9c553… etherscan.io/tx/0xf978d96e1f… etherscan.io/tx/0xc5af243b15…
Image from Swell (@swellnetworkio)
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swETH and rswETH update: 🔹 Deposits and withdrawals are open 🔹 Exchange rates are now at the correct level 🔹 Users who deposited at the inflated rate will receive compensation within the next week Thanks for your patience.
Swell (@swellnetworkio) profile pictureSwell
@swellnetworkioOct 29
swETH and rswETH incident update

swETH and rswETH incident update

Article · @swellnetworkio
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PSA: if you are borrowing msETH against rswETH, you are at risk of liquidation and are encouraged to repay your debt. msETH is trading at significant discount on DEX, even accounting for limited rswETH dex liquidity it’s highly advantageous to swap rswETH for msETH and pay down the loan
Swell (@swellnetworkio) profile pictureSwell
@swellnetworkioOct 30
Reminder for rswETH holders using it as collateral: On 31 Oct from 07:32 UTC, the rswETH rate drops ~4.9%, moving msETH/rswETH loans on @Morpho closer to liquidation. Swap rswETH to msETH and repay to reduce risk. For questions, contact the curator @MetronomeDAO.
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Reminder for rswETH holders using it as collateral: On 31 Oct from 07:32 UTC, the rswETH rate drops ~4.9%, moving msETH/rswETH loans on @Morpho closer to liquidation. Swap rswETH to msETH and repay to reduce risk. For questions, contact the curator @MetronomeDAO.
Swell (@swellnetworkio) profile pictureSwell
@swellnetworkioOct 29
swETH and rswETH incident update

swETH and rswETH incident update

Article · @swellnetworkio
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app.morpho.org/ethereum/vari…
Image from Swell (@swellnetworkio)
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As we continue to work with our security partners and Seal911 to fully secure our infrastructure, we have paused deposits and withdrawals for swETH and rswETH. The next step to resume normal operations is to return NAV to the correct value, after which we will resume deposits and withdrawals. All funds are safe, and we are working carefully with our security partners to resume operations securely. We advise you to exercise increased vigilance at this time and to follow only communications from official channels. Events like this can lead to an increase in phishing attempts.
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We are aware of reports of suspicious activity on the swETH and rswETH contracts. Our team is investigating now with our security partners and taking all necessary precautions. No ETH has left the swETH or rswETH withdrawal or deposit contracts. No action is required.
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Swellchain Shutdown: Recovery of Bridged swETH, rswETH, and SWELL SWELL, swETH, and rswETH left on Swellchain after the shutdown will soon be claimable on Ethereum. You can now check your balance. These tokens were bridged to Swellchain with LayerZero’s OFT (Omnichain Fungible Token) standard. They stayed there after the chain closed on June 23rd, 2026. Working with @LayerZero_Core, we have recovered these funds and made them available to claim. How we recovered the funds When you bridged tokens to Swellchain, the bridge locked them in a contract on Ethereum. Swellchain then minted the same amount to you. To release the locked tokens without Swellchain, we temporarily created a dummy OFT on BNB Chain (BSC). These steps were followed: 1. We removed Swellchain as a trusted source on the Ethereum bridge contracts. This makes sure no one can release the same funds twice. etherscan.io/tx/0x83a194e3f5… 2. We deployed temporary SWELL, swETH, and rswETH contracts on BSC. SWELL: 0xc1188Fa318BAa490B14241aF5cb3e64Fd38235ee swETH: 0x8c758BEDA8CCB374dC89B74D8CF2F908B1077d82 rswETH: 0x963132A22e8Dd516Ec65C2FAd3a17F280c27de2d 3. We connected the BSC contracts to the Ethereum bridge contracts. etherscan.io/tx/0x83a194e3f5… 4. On BSC, we minted temporary tokens to the Swell multisig. The amount equals the total supply of each token on Swellchain. These tokens had no value and existed only to unlock the tokens on Ethereum. bscscan.com/tx/0x0e13b99bee3… bscscan.com/tx/0x0ddd2702c80… 5. We bridged the temporary tokens from BSC to Ethereum. This released the locked tokens to the Swell multisig. bscscan.com/tx/0x0e13b99bee3… bscscan.com/tx/0x0ddd2702c80… 6. We disconnected BSC from the Ethereum bridge contracts. The temporary BSC tokens are valueless and have no further use. etherscan.io/tx/0x4979aed3dc… 7. The released tokens will be moved into a Merkle claim contract after a final claim check Recovered amounts SWELL: 72,773,835.73 swETH: 100.994705 rswETH: 55.282269 How to claim Go to the page for the asset you held on Swellchain: app.swellnetwork.io/claim/sw… app.swellnetwork.io/claim/sw… app.swellnetwork.io/claim/rs… 1. Connect the wallet you used on Swellchain. 2. Check your claimable amount. 3. Claims will open within the next two weeks. Transactions Bridging tx on BSC chain bscscan.com/tx/0x0e13b99bee3… bscscan.com/tx/0x0ddd2702c80… Released fund tx on Ethereum: etherscan.io/tx/0x1acf73a849… etherscan.io/tx/0xdd1ef9c553… etherscan.io/tx/0xf978d96e1f… etherscan.io/tx/0xc5af243b15…
Image from Swell (@swellnetworkio)
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$SWELL Token Rights are now listed on DefiLlama, including buybacks and burns. Another 50M burned today. Nearly 12% of total supply is now gone.
Image from Swell (@swellnetworkio)
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$rswETH holders received a one-time rewards boost. Obol claimed accumulated validator rewards and added them to the protocol, temporarily increasing the exchange rate for all existing restakers.
Image from Swell (@swellnetworkio)
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You can now claim earnETH left on Swellchain after the shutdown.
Image from Swell (@swellnetworkio)
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earnETH balance checker is live. If you had earnETH on Swellchain after the shutdown, you can now check your balance ready to withdraw. Withdrawals to Ethereum will open soon. app.swellnetwork.io/claim/ea…
Image from Swell (@swellnetworkio)
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Another 50M ethereum:0x0a6e7ba5042b38349e437ec6db6214aec7b35676 was burned for August. 0.5% of the total supply is burned each month under the supply reduction program.
Image from Swell (@swellnetworkio)
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Ethereum is back! → Staking ratio at a record 34.4% of supply → Trump pushing tokenization mainstream → Shorts squeezed: price up 18% in 24h Stake with Swell for simple competitive yield on $ETH.
Image from Swell (@swellnetworkio)
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More than 10% of the $SWELL supply has now been burned! Every month, an additional 0.5M SWELL is destroyed, along with all protocol revenue sold to SWELL via Fee Flow.
Image from Swell (@swellnetworkio)
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Fee Flow: app.swellnetwork.io/fee-flow
Swell

Swell

Delivering the world’s best liquid restaking experience, simplifying access to DeFi, and securing the future of Ethereum.

app.swellnetwork.io
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Bitget is now offering 20% APR on ethereum:0x0a6e7ba5042b38349e437ec6db6214aec7b35676 in Simple Earn Flexible.
Image from Swell (@swellnetworkio)
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Swell retweeted
CODESPECT (@CODESPECT) profile picture
CODESPECT
@CODESPECTJul 9
✅ Completed audit for @swellnetworkio's ETH Staking Deposit Bot CODESPECT completed a security review of Swell's eth-staking-deposit-bot, the CLI tool operators use to deposit node-operator validators for both swETH and rswETH. No Critical issues were found. The Swell team resolved ten of the twelve findings promptly, including the High and one Medium, and provided clear rationale for the two items they chose to accept. Wishing Swell continued success with their staking infrastructure 🚀
Image from CODESPECT (@CODESPECT)
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June burn update: 970M $SWELL has now been destroyed. Nearly 10% of total supply burned through regular fee flow auctions and the monthly 0.5% supply reduction program.
Image from Swell (@swellnetworkio)
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