Swell 🌊⛓️ (@swellnetworkio): Wavedrops Update: Real Token Rewards! 🌊

Wavedrops Update: Real Token Rewards! 🌊 125,000,000 Swell Tokens will be dropped in Wavedrop 3! That’s right—no more points. Just tokens streamed into your wallet via a new reward mechanism that replaces both Black Pearls and Ecosystem Points. From December 17th, these points will stop accruing. Instead, you will be able to track your Wavedrop earnings onchain as wSWELL. wSWELL is simply a locked 1:1 wrapper for SWELL distributed via @merkl_xyz. As in Wavedrops 1 and 2, it will be earned by holding Swell assets or using approved DeFi Protocols. At the end of each Wavedrop, wSWELL will be redeemable for its full value of SWELL. Or at any earlier time for a discounted amount. This new mechanism—enabled by the recent token launch—represents the realization of a long-held ambition. It enables Swell to let go of the tired points model, deliver more transparency and optionality, and return to the greatness of token rewards in the early days of DeFi! How it works 1️⃣ Find the best SWELL-boosted APRs on the Portfolio page in the Swell dApp 2️⃣ Deposit your assets and watch the number of your tokens go up 3️⃣ Claim $wSWELL at the end of the Wavedrop and unwrap it for $SWELL! What about Ecosystem Points? If you're also earning Ecosystem Rewards in the form of Ecosystem Points in the Pre-Launch or Ecosystem Earn Vaults, you'll continue to receive Swellchain airdrops associated with those points. But from December 17th, these airdrop rewards will appear as the respective tokens in the Swell app, to be claimed once the corresponding ecosystem project airdrop goes live. Get ready to ride the first Wave of Wavedrop 3! The 125,000,000 SWELL set to be dropped in Wavedrop 3 will be made available in separate Waves, with the earliest riders of each Wave accruing a greater share of the fixed amount. At the start of each Wave, Swell will reveal the length of the Wave, the exact token amount to be distributed, and which activities will be rewarded—giving you an opportunity to position your assets to capitalize on the flow of SWELL. Stay tuned to find out what rewards the first Wave of Wavedrop 3 will bring when it starts on December 17th! Learn more: swellnetwork.io/post/wavedrops…