Ethereans have long discussed the dangers of having a single dominant liquid staking protocol. But now Swell DAO is looking to entice stETH holders by providing attractive incentives to help diversify the market. This includes putting its money where its mouth is by routing protocol fees to the vault to provide boosted real yield to depositors.
The fast-growing liquid staking protocol has launched the Super swETH vault, which offers stETH depositors yields of up to 18% from staking rewards and redirected DAO commission. stETH deposited into the vault is unstaked and swapped for swETH — helping to create a healthier, more balanced, and diverse liquid staking market.The earlier you deposit, the faster you earn Pearls. Deposits made before the vault hits 10k stETH AUM earn 3x Pearls, falling to 1.5x Pearls for deposits made after 50k.
This vault strategy is the first of many vaults planned in the Swell roadmap, and has already garnered significant interest from the Ethereum community."Conversations happening across the Ethereum community have made it clearer than ever that there is strong demand for more choice and competition in liquid staking.