Guarded Launch Stages

Swell Network’s Guarded Launch comprises a multi-staged and controlled schedule, with selected Node Operators partners who will be spinning up validators to support the supply side of the Swell’s platform.

Swell Network Guarded Launch, The staged sequencing reflects incremental ETH thresholds across a set of operators with corresponding network validator growth.

The completion of each stage is threshold based with each successive stage requiring stage gate approval by the DAO to ensure appropriate functionality and system behaviour to ensure technical and cryptoeconomic soundness.

Guarded Launch Functionality

The initial functionality of the Guarded Launch will be limited to ‘plain vanilla staking’ with enablement of liquid staking to come post Guarded Launch through the establishment of relevant swETH and ETH liquidity pools. The Guarded Launch will involve the DAO actively managing participation on both the demand side and supply side of the platform.

Post Guarded-Launch

Following a satisfactory completion of each stage gate. Swell will move into a fully permissionless and open state that will carry the full benefits of liquid staking. That is powering by all the unique advantages of staking with Swell.

Security, Testing, and Audits

The Guarded Launch flows off the back of a coordinated testing schedule. With constructive feedback from the growing Swell Network community. This has been coupling with several smart contract audits by multiple audit firms. To provide further reassurance around the technical implementation of Swell Network.

Anout Swell

Swell Network is a permissionless, non-custodial, and liquid ETH staking protocol for stakers, node operators, and the Ethereum ecosystem. A community-driven and open-source protocol backed by the industry’s leading funds and angels. Stake ETH and receive swETH in your own swNFT and earn DeFi yield in a single place.

Website | Twitter

SOURCE:
https://blog.swellnetwork.io/mainnet-soft-launch-announcement/

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Swell Network is also integrating Chainlink Proof of Reserve to help ensure that its liquid staking receipt token (LSRT) – Swell ETH (swETH) – is always fully backing by staked ETH on a 1:1 basis. Chainlink Proof of Reserve uses automated verification based on cryptographic truth to enable the reliable and timely monitoring of off-chain or cross-chain reserves. By providing on-chain proof that reserves are fully backed, developers are better able to protect against malicious actors and ensure the solvency of the protocol.

Swell Network is an innovative multi-sided staking platform serving both stakers and node operators. Through a range of innovations, including the Atomic Deposit, Swell Financial NFTs (swNFTs) and Swell Vaults, the protocol will offer Ethereum stakers higher yields, a better user experience, the ability to choose their node operator, and complete transparency for each and every deposit on the platform.

Ultimately, Swell Network aims to make a positive contribution to the Ethereum ecosystem by driving integration with new technologies like Chainlink Proof of Reserve, which is likely to become the standard auditing solution for more and more liquid staking protocols and other decentralized finance (DeFi) primitives.

Chainlink Price Feeds provides an array of benefits that help make them the industry leader such as:

• High-Quality Data — Data is sourcing from numerous premium data aggregators like BraveNewCoin and Kaiko, leading to volume-adjusted global market prices with robust market coverage.
• Reliable Nodes — Price feeds are securing by a decentralized network of independent, security-reviewed. Sybil-resistant oracle nodes run by leading blockchain DevOps teams with a proven history of hyper-reliability.
• Decentralized Infrastructure — Both the data sourcing and transmission on-chain are removing any central point of failure.

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services. To power hybrid smart contracts on any blockchain. Its oracle networks provide smart contracts with a way to reliably connect to any external API. Leverage secure off-chain computations for enabling feature-rich applications.

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About Swell Network

Swell Network is a next-generation ETH liquid staking protocol. It provides a superior and differentiated offering for stakers, node operators, and the ecosystem. Swell empowers stakers to earn higher yields, with more transparency in a fully non-custodial manner with improved UX. The protocol also enables node operators to run nodes for the network in a fully permissionless manner.

Website | Twitter

SOURCE

https://blog.swellnetwork.io/swell-network-integrates-chainlink-price-feeds-and-proof-of-reserve-to-help-secure-liquid-eth-staking/

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