Liquid Restaking Protocol Swell Drops Polygon CDK for OP Stack

Liquid restaking protocol Swell has introduced that its Layer 2 is migrating to the Optimism Superchain.

Swell stated it could transfer away from the Polygon Chain Growth Package (CDK) as a part of this strategic transition.

Swell Layer 2 Transitions

Based on the official weblog submit, Swell is about to supply restaking yield and safety features for the Superchain, using its Proof of Restake mannequin to enhance the capital effectivity of staked property and set up a growth-supporting mechanism.

To adjust to Superchain necessities, Swell Layer 2 will introduce modifications, together with utilizing ETH because the rollup fuel token and directing a part of sequencer earnings to the Optimism Collective.

In a statement, Swell Founder Daniel Dizon stated,

“The Superchain is dwelling to the most important success tales in DeFi, with 4 of the highest 5 chains using Optimism’s OP Stack. Swell is happy to collaborate with OP Labs and the broader Optimism Collective to construct out our shared imaginative and prescient for scaling Ethereum – and make Swell L2 the house of all restaking exercise within the Superchain.”

With the most recent growth, Swell will be part of a rising listing of distinguished gamers within the crypto business, together with main exchanges like Coinbase, by integrating with the Optimism Superchain via the OP Stack framework.

Lately, Kraken announced its personal Layer 2 community, Ink, constructed on the OP Stack to turn into a part of the Superchain. Different notable names already using the OP Stack embody Uniswap, a number one decentralized change, and Sony, a world electronics chief.

Swell beforehand introduced plans to make use of Polygon’s CDK, supported by AltLayer, to create a zkEVM for its Layer 2 community. Nevertheless, the choice behind leveraging Optimism’s OP Stack as a substitute of Polygon’s CDK has not been revealed but. Regardless of this, Swell stated that it “continues to imagine within the aggregated ecosystem that Polygon is constructing.”

In the meantime, data from DefiLlama exhibits that Swell’s merchandise collectively maintain a complete worth locked greater than $1.35 billion.

Polygon Chain Growth Package (CDK)

Polygon Labs launched the Polygon Chain Growth Package (CDK), an open-source framework, within the third quarter of 2023. It was designed to allow the launch of ZK Layer 2s and assist the transition of EVM Layer 1s to Layer 2s. Polygon CDK is targeted on customization and zero-knowledge (ZK) know-how and finally goals to streamline connections between CDK-based chains and the AggLayer.

A number of well-liked initiatives, together with OKX, Ronin, Immutable, Moonveil, Fox, Witness Chain, Silicon, Manta, Hypr Community, Flipkart, Libre, Arianee, Gnosis Pay, Ton Functions Chain (TAC), and WireX, have announced CDK-based chains.