The Swell platform has opened the gates for its airdrop event. The airdrop event, which is live from 9:00 AM UTC on Thursday, November 7th, 2024 is the right time to get the $SWELL tokens for free. Of the total supply of 10,000,000,000 SWELL tokens, 8.5% (850,000,000) SWELL tokens are distributed through this airdrop event.
In this article, you will read everything about SWELL tokens and its ongoing airdrop event.
What Is The Swell Platform?
Swell is the largest liquidity staking and restaking platform. This non-custodial platform is layer 2 and serves as the launching point for restaking cryptocurrencies such as Ethereum and Bitcoin. The ETH and BTC token holders can restake their holdings on the Swell platform and earn a constant passive income. The Swell platform ensures decentralization and secures a transparent financial system for the world.
The Swell platform has a native DAO that helps in its working. This DAO ensures inclusivity and accessibility to everyone. The $SWELL tokens aid in the governance of the Swell platform. $SWELL token holders are key to decision-making in matters such as setting fees, appointing delegates, managing proposals, deciding on Layer 2 upgrades, determining AVS inclusion, and managing incentives and grants.
More About The $SWELL Tokens
The $SWELL tokens are pivotal in empowering the governance and ecosystem development of the Swell protocol. It is the prime responsibility of the $SWELL token holders to ensure that the Swell protocol is moving as per its predefined goals.
$SWELL token holders have exclusive voting power to propose changes in the following areas.
- They can vote for changes in the incentives scheme with which stakers and other participants are rewarded.
- They can propose revisions to the transaction fees.
- They can decide about the node operators, their selection, and removal.
- They can also vote for/against the daily activities of the SWELL DAO treasury.
$SWELL Tokenomics
The total supply of 10,000,000,000 $SWELL tokens is distributed in the following manner.
Community: 35%
Of the 35% of $SWELL tokens allocated to the community, 8.5% is set aside to be distributed through the Voyage airdrop. The early stakeholders and liquidity providers are incentivized for their participation through this airdrop.
7% of the funds allocated to the community will be distributed through the Wavedrop campaign, which is a series of airdrop campaigns spanning over the 12 months following the Token Generation Event (TGE).
Another 135,530,000 SWELL tokens are allocated to the launchpool to support token listing on exchanges. The remaining tokens $SWELL tokens are distributed for strategic purposes related to the SWELL layer 2 protocol.
Team: 25%
2,500,000,000 $SWELL tokens are distributed to the core contributing team and the advisors of the Swell DAO.
Fundraising: 25%
Another 2,500,000,000 $SWELL tokens are allocated to be given to the early supporters of the Swell protocol who provided capital, expertise, and other support for its early development.
Foundation: 15%
1,500,000,000 $SWELL tokens are set aside for Layer 2 expansion, product development, ecosystem growth, resourcing, network expansions, and supporting the long-term growth and sustainability of the Swell platform.
How To Claim Your Share Of The $SWELL Airdrop?
To claim your share of the $SWELL airdrop, you should navigate to the official link of $SWELL. On this page, you can check your eligibility for the airdrop by connecting your wallet. You do not need to sign in to the platform to check your eligibility. You can claim your airdrop tokens for up to 6 months after the token launch. Unclaimed tokens will then be returned to the Swell DAO to power its future endeavors.
Your share of the airdrop is decided by various criteria, such as your loyalty points, the number of White Pearls with you, and $SWELL token vesting for the Whale participants.
The Bottom Line
The $SWELL tokens are quite useful for you if you want to decide on the governance of the Swell protocol. If you are a Bitcoin or Ethereum holder and you want to restake them for an added advantage, you can increase your participation in the Swell protocol and earn big in this airdrop.
