Swell SWELL

The claim is live until 7 May, 2025

 

Prelude: Sea Level

Preparation for the Voyage began with the public opening of Swell staking, concluding at 02:00 AM UTC on May 24, 2023. During this period, early Voyagers collected pearls based on their:

• swETH holdings
• swETH LPing in Balancer, Aura, Uni v3, Maverick, Bunni, and Pendle

Pearls were collected by both staking and LPing, though LPing allowed Voyagers to accumulate pearls at a faster rate. Many early participants also contributed in other ways: staking in the prior Guarded Launch, earning Discord roles for spreading the word about Swell, or donating on Gitcoin. To reveal your pearls, simply sign into your Voyage dashboard.

 

Chapter 1: Sunlight Zone

The Sunlight Zone chapter began at 02:01 AM UTC on May 24, 2023, marking the Voyage’s descent. This chapter, set in the ocean’s uppermost layer, offers vibrant opportunities for participants to collect pearls.

 

How to Collect Pearls

In Chapter 1, Voyagers can collect pearls through staking and LPing in eligible pools. The more swETH you hold or LP, and the longer you maintain it, the more pearls you collect. As in the prelude, LPing yields pearls at a higher rate. Pearl counts update every five minutes on the dashboard.

 

Community Milestones

Voyagers can collaborate towards community goals: if total ETH TVL reaches 50,000, the distribution program size will increase by 40%. Together, the Swell community demonstrates the power of collaborative governance.

 

Onboarding the Swell Diving Club

Swell’s partners in the liquid staking space, known as the Diving Club, have joined the Voyage. These allies represent the next generation of DeFi, NFTs, and staking. In appreciation, Diving Club members receive a joining bonus of pearls.

Note: the Swell Diving Club bonus concluded on June 28, 2023.

 

Governance Tokens and NFTs

Holders of the following governance tokens (minimum 0.1 ETH value) at Ethereum block #17119845 qualify for a 40-pearl bonus if they mint 0.2 swETH before Chapter 2:

• Aura (vlAURA)
• Alchemix (ALCX)
• Pendle (vePENDLE)
• Olympus (OHM, gOHM)
• unshETH (USH)
• Tokemak (TOKE)
• Timeless Finance (veLIT)
• Stake DAO (veSDT)
• Yearn (YFI)

 

Similarly, wallet holders of NFTs from these collections on the snapshot date can earn 40 pearls by minting 0.2 swETH before Chapter 2:

• Miladys (MIL)
• EVMavericks (EVM)
• LobsterDAO (LOBS)
• Remilio (TEST)

 

Chapter 2 and Beyond

Following the Sunlight Zone, the Voyage continues into the depths, with new opportunities to collect pearls as the community expands and the Swell ecosystem grows.

 

Final Destination: Swell City

Upon reaching Swell City, collected pearls will contribute to Swell’s decentralized governance. Join Discord, follow Twitter, and track progress on the Voyage dashboard.

 

White Pearls Snapshot

A snapshot of your White Pearls was taken at Block 20422895 (July 30, 2024). This marks the end of the Voyage and the start of $SWELL rewards.

 

Wavedrops

In Swell City, you collect rewards as waves roll in every ten weeks. Black Pearls convert to $SWELL at each Wavedrop, with loyalty boosts for consecutive waves.

 

Bonus Multipliers

Earn 10% more $SWELL for every consecutive wave you participate in, up to a maximum of 60%. Voyagers receive a 30% boost if maintaining 90% of their swETH/rswETH balance from the snapshot date.