Swell Raises $3.75M as Locked ETH Tops $26B

▤ Summary

The team announced Monday a $3.75 million seed round co-led by Framework, IOSG Ventures and Apollo Capital. In exchange for lending computing power to help secure Ethereum, validators get a percentage of the fees generated as users transact on the network. Similar liquid staking solutions to Swell already exist – the most popular being Rocket Pool and Lido. Both products already make it easy for users to enter and exit their staking positions, and they allow minimum deposits much lower than Swell’s 1 ETH. Basically, we reduce the entry barrier for the beginner.” Swell plans to launch its beta on the Ethereum mainnnet in April.

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