Proposal to add eETH/rswETH Gauge


Proposal to add weETH/swETH on Ethereum to Gauge Controller.

Gauge Address to be added: 0x0bfb387b87e8bf173a10a7dcf786b0b7875f6771
Pool Address:

References/Useful links(EtherFi):

• Website -
• Documentation - Whitepaper -
• Github Page - etherfi-protocol · GitHub
• Discord -
• Twitter -

References/Useful links(Swell):

• Website -
• Documentation -
• Github Page - Swell · GitHub
• Discord - Swell
• Twitter -

Protocol Description(Swell Network):

Swell is a liquid re-staking protocol that has just launched on Ethereum. rswETH is our liquid re-staking token and accrues in value as the underlying eth earns rewards. We are audited by Sigma Prime

rswETH’s current price is $2,305.32 as it is 1:1 with ETH. This pool will be our first stable-swap pool so we expect the price to be 1:1 with ETH and slowly raise over time as rswETH appreciates


The motivation of this pool is to setup a robust source of liquidity for rswETH & weETH while enabling liquidity providers to farm Swell Pearls, EtherFi Loyalty Points and EigenLayer points in a non-diluted Manner


  1. Governance: - Currently, the protocol utilises a multi signature wallet, with the signatories being doxxed executives. This will change with the evolution of the protocol, moving to decentralized governance with a DAO and a governance token in approx. 3-6 months.
  2. Oracles: - The Protocol relies on an oracle for withdrawals and beacon state, however, the reliance on an oracle for beacon state is set to go away in an upcoming Ethereum upgrade. The Oracle is based on the hash consensus mechanism and run by the committee members. Initially, the team will be the only ones to operate the Oracle nodes, however the protocol grows, it will add more external parties to join the committee.
  3. Audits: - Audit reports for the protocol are found on the GitBook page - Audits - The audits have been carried out by reputable firms such as Certik, Zellic, Nethermind, Omniscia and Solidified to ensure the security of the protocol. An audit competition was also completed through Hats Finance.
  4. Centralization vectors: - The centralization vectors primarily relate to the Oracle until it becomes decentralized, in line with the protocol roadmap. The price (staking rewards for rebasing) and the validator management (spinning up new validators and exiting them for liquidation) are also currently centralized for the early stages of the protocol to ensure mobility. As mentioned above, the signatories currently consist of the doxxed executive team at, however this will be upgraded with the implementation of the DAO and governance.
  5. Market History:
    weETH/weETH pool on Curve: 0x5005e71f10d006B087F5dEb48f24480824D3A80B

Specifications(Swell Network):

  1. Governance: Swell doesn’t have a governance setup at the moment. We discuss with the community on our forum and discord. However once we launch our token we plan to move to a more decentralized model
  2. Oracles: rswETH does not rely on an oracle
  3. Audits: You can find our audit with Sigma Prime here
  4. Centralization vectors: Although Swell is a decentralized and non-custodial liquid staking solution, since we don’t have a governance token, we are not fully decentralized yet.
  5. Market History: rswETH is a very new asset, only launching yesterday so has no price history but due to it being an LRT its price history will be very similar to that of swETH and other LSTS/LRTS.