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Partnership Announcement:

Welcoming Swell’s Voyage to Ion’s Lab

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Over the past several months we’ve been collaborating with the Swell team in the public to discuss the many innovations coming to LSDeFi. Along the way, we’ve been heads down, developing Ion’s novel risk and pricing mechanisms which enable us to support swETH as a collateral asset for borrowers. Unseen before on other incumbent DeFi lending platforms, we are excited to announce our partnership with Swell and the listing of swETH in our first cohort of collaterals on Ion Protocol!

 

Why Should Borrowers Use swETH

Swell is a non-custodial liquid staking protocol where users can earn passive income by staking ETH to earn blockchain rewards and be provided with swETH, a liquid staking token (LST), to hold or participate in the wider DeFi ecosystem.

Users of swETH gain access to:

  1. Higher yields through their network of DeFi integrations.
  2. Fully vetted node operators with best-in-class professional expertise and experience.
  3. Greater influence by way of the upcoming Swell Charter.

 

Benefits of Integration

We will be enabling borrowers to deposit swETH as collateral in our markets. This means they can deposit their swETH and borrow ETH against it. Adding to the suite of opportunities available to swETH holders, Swell continues their journey to becoming the LST for DeFi with this integration. By utilizing their swETH as collateral, Ion is the first platform where users can borrow ETH to play a greater role in DeFi or compound their staking yield opening the doors to leverage, hedging, and various other financial strategies.

 

Links

Website: swellnetwork.io

Docs: https://docs.swellnetwork.io/swell/what-is-swell

Twitter: https://twitter.com/swellnetworkio

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