SWELL Airdrop Claim Today, How Much Is the Allocation? Read Here!

Bittime - Swell token ($SWELL) airdrop claims officially open today, November 7, at 9 am UTC. 

One hour later, $SWELL will begin listing on centralized exchanges (CEX), opening up new opportunities for token holders and the broader Swell community. 

Find out the complete explanation regarding the SWELL airdrop allocation in this article!

What is Swell Network?

Swell Network is a decentralized, non-custodial liquid staking protocol, designed to simplify access to DeFi opportunities while maintaining the core principles of decentralization and censorship resistance. 

By staking Ethereum (ETH), users receive liquid staking tokens (LST) that can be used on various DeFi platforms. This innovative approach increases the liquidity and flexibility of staked ETH.

What is Airdrop Swell?

The Swell airdrop is a distribution of SWELL tokens to eligible Swell community members. SWELL is the native governance token of Swell DAO, giving its holders the power to shape the future of the protocol. 

By participating in Swell Voyage, early adopters and contributors to the network have earned the right to claim their share of the SWELL airdrop.

Once claimed, users can keep SWELL for governance purposes or re-stake to earn additional rewards. 

Staken SWELL, also known as rSWELL, supports the security and functionality of Swell L2, with re-staking protocols such as EigenLayer and Symbiotic adding a layer of security to the network.

Read also: SWELL Airdrop Claims Can Start Today!

SWELL Airdrop Allocation

The total supply of SWELL is 10 billion tokens with an initial circulating supply of 13%. Check out the detailed allocation of these tokens below:

Community (35%): This section is reserved for the community and ecosystem, ensuring decentralized governance and community ownership. 

Airdrop Voyage, which allocates 8.5% of supply to early stakers and liquidity providers, is part of this allocation.

Tim (25%): Allocated to the core team and advisors to encourage their ongoing contribution to the project.

Fundraising (25%): Reserved for investors who support Swell's initial development.

Foundation (15%): Dedicated to strategic initiatives, including Layer 2 expansion, product development, and ecosystem growth.

It's time to claim the SWELL Airdrop 

SWELL claims open on November 7, 2024, at 9 am UTC. Eligible users can claim their tokens by connecting their wallets to the Swell platform. 

It is important to note that unclaimed tokens will be returned to the DAO after a certain period.

Conclusion

With the successful launch of the Swell airdrop and the increasing adoption of liquid staking, Swell Network is poised to become a major player in the DeFi ecosystem. 

By providing innovative solutions and empowering communities, Swell is shaping the future of decentralized finance.

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