Swell Network to Take a Pearl Snapshot on July 31st

IconCryptoNewsTerminal Staff29 Jul, 2024

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Swell Network to Take a Pearl Snapshot on July 31st

The liquidity staking protocol for Ethereum, Swell Network (SWELL), announced on the 1st that it will be taking a snapshot of the "Pearls" on the 31st at 9 AM (KST) through X, and that it plans to finalize specific measures for TGE and Sybil resistance based on this. Users who have deposited Ethereum (ETH) into their Pearl accounts and maintained their stakes for a certain period of time will be eligible for the snapshot. The snapshot will capture the number of Pearls held by each user, and this information will be used to determine the initial distribution of SWELL tokens during the Token Generation Event (TGE). The snapshot is a critical step in the launch of Swell Network, and it will help to ensure that the distribution of SWELL tokens is fair and equitable. Swell Network is a liquidity staking protocol that allows users to earn rewards for staking their ETH without having to lock their assets in a smart contract. This makes it a more flexible and accessible option for users who want to participate in staking.

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