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Enhancing Ethereum Staking: Enzyme and Swell's Strategic Partnership

Explore the collaboration between Enzyme and Swell, aimed at transforming Ethereum staking through innovative solutions and decentralization.
Published on 2023-11-16

Revolutionizing Ethereum Staking

Enzyme and Swell have joined forces to transform the Ethereum staking landscape by integrating Enzyme's Lido unstaking feature into Swell's Super swETH Vault. This partnership focuses on enhancing staking incentives, bolstering Ethereum's security, and ensuring fairness across the network.

Promoting Decentralization

The collaboration addresses concerns about power concentration in the liquid staking market, reinforcing Ethereum's core principles of decentralization and anti-censorship. Swell, a prominent DeFi organization since April 2023, has become known for its non-custodial liquid staking approach, which includes stringent security protocols like Sigma Prime audits and Chainlink Proof of Reserves.

Super swETH Vault: A New Era

Enzyme's technology powers Swell's Super swETH Vault, attracting over 360 depositors and a total value locked (TVL) exceeding $9 million. The vault provides various incentives for stakeholders, including staking payouts ranging from 3% to 4%, all of Swell DAO's redirected revenue, and additional Pearls from the $SWELL Voyage airdrop.

Ensuring Transparency and Trust

Enzyme's non-custodial smart contracts enable real-time tracking of the total amount locked in the system, fostering transparency and trust in the decentralized finance ecosystem. This partnership is a significant step toward further decentralizing the Ethereum staking ecosystem and offering stETH holders enhanced income opportunities while maintaining robust security features.

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