Liquid stacking protocol Swell is planning to shift to the Optimsim Superchain ecosystem, in what comes as a surprising move to the market.
The migration will comes on the back of Swell replacing Polygon superchain for Optimism. The move will see Swell L2 join the Superchain as an Optimistic Rollup built on the OP Stack.
According to the official announcement, Swell will depart from the Polygon CDK as part of this strategic shift, but it still has “faith in the collective ecosystem Polygon is creating”.
What is The OP Stack?
The OP Stack is an Ethereum-aligned scaling solution that uses the same modular, open source, MIT-licensed codebase to power all of the Superchain’s blockchains. It prioritizes transparency, openness, and parallel development.
The OP Stack was created by core contributors to Optimism and serves as the codebase for the Superchain, a network of interconnected chains that share a common set of technical standards and principles and will profit from interoperability. These chains gain access to grants and initiatives like Retro Funding, which incentivize builders throughout the Optimism ecosystem, as well as shared protocol updates and security.
Swell Joins Other Industry Giants On Optimism Superchain
Swell L2, in partnership with OP Labs, will join Coinbase’s Base, Kraken’s Ink, Zora, Mode, SNAXchain, and other Layer 2 rollups in the Superchain ecosystem. A test network is anticipated shortly after the Layer 2 is finished being developed.
Optimistic rollups are used by the chains in the Optimism Superchain ecosystem on top of Ethereum to lower transaction costs for decentralized applications. This ecosystem is managed by a DAO called the Optimism Collective.
Swell To Provide The Superchain With Restaking Yield
Swell will provide the Superchain with restaking yield and security as the restaking yield layer. Swell L2’s special Proof of Restake mechanism will accomplish this by optimizing the capital efficiency of staked assets and starting a special flywheel that will promote security, liquidity, and growth.
“The Superchain is home to the biggest success stories in DeFi, with 4 of the top 5 chains utilizing Optimism’s OP Stack. Swell is excited to collaborate with OP Labs and the wider Optimism Collective to build out our shared vision for scaling Ethereum — and make Swell L2 the home of all restaking activity in the Superchain.” said Daniel Dizon, Swell Founder.
The design of Swell L2 will be slightly altered to meet Superchain specifications. These include using Ethereum as the rollup’s gas token and donating a portion of sequencer revenue to the Optimism Collective.