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Swell Network (Swell), a permissionless, non-custodial, and liquid Ethereum (ETH) staking protocol, announced today a strategic partnership with InfStones, a provider of decentralized blockchain infrastructure on one platform, to enable greater flexibility, transparency, and yield in ETH liquid staking.
Facilitating staker choice, Swell allows stakers to select the node operator they wish to stake ETH with. Now, through this partnership, Swell users can natively select InfStones as a verified node operator and therefore tap into all the benefits of liquid staking.
“Partnering with trusted node operators is key to this. By integrating Swell’s liquid derivative token and financial Non-Fungible Token (NFT) design with InfStone’s institutional-grade Ethereum node management infrastructure, Swell can provide stakers with a more robust, transparent, and flexible solution for their Ethereum holdings.”
– Daniel Dizon, Co-Founder of Swell Network
InfStones will become one of the first verified node operators to join the Swell Network DAO, providing leading institutional-grade node management for Swell to deliver the future of ETH liquid staking.
Under this arrangement, InfStones will run validator nodes on Swell, which operate at the protocol layer to provide stakers with a 1:1 asset-backed ETH staking derivative contained within the Swell Financial NFT (swNFT), known as Swell Ether (swETH).
The unique combination of issuing both tokens when a staker stakes with Swell enables a powerful mix of liquidity, transparency, and ownership. The swETH token is designed to earn higher yields throughout the decentralized finance economy on top of the base layer Ethereum staking rewards.
swNFT functions as a certifier of ownership – a ‘proof’ of your ‘stake’. This signifies a new level of transparency for stakers with users now being able to access information about their staked tokens whilst enjoying all the benefits of liquid staking with trusted node operators and innovative protocol design.
Lastly, InfStones will provide investment and liquidity into Swell as part of the latter’s public launch scheduled for Q3 2022.
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Image and article originally from www.cryptoninjas.net. Read the original article here.