Swell has launched a layer-2 restaking rollup alongside Ethereum scaler AltLayer and crypto staking undertaking EigenLayer.
The rollup will take the type of a “restaked rollup”, which comes with a variety of providers equivalent to decentralized sequencing, verification and sooner finality.
Restaking refers to a course of on Ethereum the place ether tokens which can be deposited as safety for the community could be repurposed to safe extra blockchains and protocols.
Ethereum staking protocol Swell has launched a layer-2 rollup with $1 billion in whole worth locked (TVL) utilizing Polygon’s chain improvement equipment (CDK).
Swell developed the rollup alongside Ethereum scaler AltLayer and a16z-backed crypto staking undertaking EigenLayer. A layer 2 is a protocol designed to scale a blockchain’s capability by executing transactions off-chain and packaging them collectively for submission to the primary community.
The rollup will take the type of a “restaked rollup”, which comes with a variety of providers equivalent to decentralized sequencing, verification and sooner finality, Swell stated on Wednesday.
Restaking refers to a course of on the Ethereum blockchain the place ether (ETH) tokens which can be deposited as safety for the community, a course of often known as staking, could be repurposed to safe extra blockchains and protocols.
Swell founder Daniel Dizon described increasing Swell’s liquid-staking providing to layer 2 as “the following logical step,” for the undertaking.
“Restaked rollups mix the benefit of spinning up rollups utilizing rollup stacks equivalent to Polygon CDK with the facility of EigenLayer’s restaking mechanism to bootstrap community safety and construct a decentralised community for core rollup providers,” AltLayer CEO Yaoqi Jia stated within the assertion.
Learn Extra: Liquid Restaking Tokens: What Are They and Why Do They Matter?
