Swell to Launch an Airdrop Program Named Wavedrop on October 8!

Bittime - Ethereum liquidity staking protocol, Swell Network, has just announced their plans to take a snapshot of Pearls on July 30, 2024 at 00.00 UTC or 08.00 WIB. 

Voyage: Swell Incentive Program

Taking a snapshot of Pearls on Block 20422895 will mark the end of Voyage and provide a new opportunity to collect $SWELL rewards every 10 weeks in Swell City. 

Voyage is a program or initiative by Swell Network. This program is designed to provide incentives to users involved in the Swell ecosystem. During the Voyage period, users can collect Pearls, which are tokens or rewards given in exchange for participation in the Swell ecosystem. These Pearls can be exchanged for $SWELL tokens.

This snapshot will also mark the end of the opportunity to collect White Pearls. These White Pearls represent 8% of the total $SWELL supply and will be distributed at TGE. Swell will also introduce a regular airdrop schedule called Wavedrops, to provide rewards to Swell stakers.

Wavedrop: Swell Airdrop

In Swell City, users will collect rewards regularly. Each Wave lasts for 10 weeks. By simply holding swETH and rswETH or using them in supported DeFi integrations, users can collect Black Pearls, which can then be claimed as $SWELL on each Wavedrop.

To reward Voyagers, the allocation for the first Wavedrop will be doubled, with 2% of the total $SWELL supply distributed to Black Pearl holders on October 8, 2024. After the first Wavedrop, subsequent Wavedrops will allocate 1% of the total supply.

Multipliers Bonus on Wavedrop

Users can earn more $SWELL for Black Pearls by joining each successive Wave. For each consecutive Wave followed, the number of Black Pearls will be increased by 10% with each Wavedrop, ranging from zero to a maximum bonus of 60%.

Users will automatically get a 30% increase in Wavedrops if it continues to maintain 90% of its swETH/rswETH balance since the snapshot date. 

This latest announcement from Swell Network shows its commitment to continuing to develop an Ethereum staking ecosystem that is innovative and profitable for its users. 

With features such as snapshot Pearls, TGE, Wavedrops, and multiplier bonuses, Swell provides various attractive incentives for stakers to continue participating and earning rewards.  

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