Swell Revises Polygon Collaboration Plans, Will Launch Its Optimic Rollup on OP Stack

Swell has revised its plans for Polygon collaboration, specifically building its L2 on Polygon. Instead, Swell is going to launch its Optimic Rollup on OP Stack.

Liquid Staking Protocol Swells Revises Plans For Polygon Collaboration. Here’s What ChangedLiquid Staking Protocol Swell has revised its plans for Polygon collaboration, which initially involved building its L2 on Polygon. However, recent updates indicate that Swell will now be launching its Optimic Rollup on OP Stack instead. This shift in plans comes as Swell awaits a grant from the Optimism Foundation.In a recent development, Swell has announced that it will no longer be building its L2 on Polygon and will instead be launching its Optimic Rollup on OP Stack. This marks a significant change in plans, as Swell had previously announced its collaboration with Polygon to build a liquid staking solution on its L2 network.To understand the significance of this development, it's important to note that Swell is a liquid staking protocol that allows users to stake their ETH and earn rewards while still being able to use their staked ETH in DeFi applications. This is achieved through the minting of liquid staking derivatives, such as rETH or stETH, which can be used in various DeFi protocols.Initially, Swell planned to launch its liquid staking solution on Polygon L2, which would have enabled users to stake their MATIC tokens and earn rewards. However, with the latest updates, Swell will be launching its Optimic Rollup on OP Stack, which will allow users to stake their ETH tokens and earn rewards.This shift in plans aligns with the broader goal of Optimism to create a Superchain that connects various L2 networks and applications. With Swell joining OP Stack, it will become part of a network that already includes Coinbase Base, a L2 network being built by Coinbase, and several other projects.Collectively, these L2 networks will contribute a portion of their sequencer revenue to the Optimism Collective, which will then use these funds to support the development and maintenance of the Optimism network. In addition, Swell will introduce an innovative "proof of restake" approach, which aims to further reduce transaction costs and increase network security.Details of Tech Stack Choosing for SwellThis development is significant for several reasons. Firstly, it marks a fundamental change in the development vector of Swell, as the project will now be moving into Optimism's entire Superchain ecosystem. This integration will provide Swell with access to a vast network of L2 applications and users.Moreover, Swell will be launching its Optimic Rollup on OP Stack, which will enable users to stake their ETH tokens and earn rewards. This aligns with the broader strategy of Optimism to create a network of interconnected L2 solutions, ultimately aiming to enhance the scalability and usability of the Ethereum network.In addition, Swell will be using ETH as a gas token instead of the previously planned rswETH, which is a wrapped version of ETH that pays stakers. This adjustment ensures compatibility with the Optimism network, which does not support custom gas tokens.As part of its integration with the Optimism network, Swell will allocate a portion of the sequencer revenue to the Optimism Collective. This aligns with the revenue-sharing model adopted by other L2 networks participating in the Superchain, contributing to the overall sustainability and development of the Optimism ecosystem.An important feature being introduced by Swell is its "proof of restake" protocol, which is designed to significantly reduce transaction costs and increase network security. This innovative protocol will be implemented within the Swell network, and its effectiveness will be closely monitored through testing and real-world application on the test network.In turn, Swell expects a grant from the Optimism Foundation, which will be an important resource for further development, but it is too early to talk about it. The project is still in the early stages of development, and only a test network is expected shortly.

Liquid Staking Protocol Swells Revises Plans For Polygon Collaboration. Here’s What ChangedLiquid Staking Protocol Swell has revised its plans for Polygon collaboration, which initially involved building its L2 on Polygon. However, recent updates indicate that Swell will now be launching its Optimic Rollup on OP Stack instead. This shift in plans comes as Swell had planned to launch its liquid staking solution on Polygon L2, which would have enabled users to stake their MATIC tokens and earn rewards.To understand the significance of this development, it's important to note that Swell is a liquid staking protocol that allows users to stake their ETH and earn rewards while still being able to use their staked ETH in DeFi applications. This is achieved through the minting of liquid staking derivatives, such as rETH or stETH, which can be used in various DeFi protocols.However, with the latest updates, Swell will be launching its Optimic Rollup on OP Stack, which will allow users to stake their ETH tokens and earn rewards. This aligns with the broader goal of Optimism to create a Superchain that connects various L2 networks and applications. With Swell joining OP Stack, it will become part of a network that already includes Coinbase Base, a