Swell
Staking · Liquid Staking · swETH
Swell issues swETH, a non-rebasing liquid staking token, alongside a restaking product line, letting users earn staking yield plus ecosystem rewards.
Non-custodial liquid staking and restaking.
swETH price
$1677.79
-5.6% 24h
Latest data · 15 min delay
Competitors
Ranked top→bottom — who competes with Swell and how they differ.
| # | Competitor | Positioning | Similarities | Differentiator |
|---|---|---|---|---|
| 1 | Lido | Dominant Ethereum liquid staking protocol by TVL, issuing stETH/wstETH. | Both are non-custodial liquid staking protocols issuing reward-bearing ETH LSTs usable across DeFi. | Lido is far larger and focused on pure liquid staking, whereas Swell layered on restaking (rswETH via EigenLayer) and its own L2. Notably, Lido's wstETH was among the assets users had to bridge off Swellchain before its June 2026 shutdown. |
| 2 | Ether.fi | Leading liquid restaking protocol issuing eETH/weETH on EigenLayer. | Both offer EigenLayer-based liquid restaking tokens (rswETH vs eETH) targeting restaking yield on top of ETH staking. | Ether.fi scaled to become the largest LRT and expanded into cards/cash products; Swell paired restaking with its own OP Stack L2 which was later sunset. |
| 3 | Renzo | Liquid restaking protocol issuing ezETH on EigenLayer. | Both are EigenLayer LRT issuers competing for restaking deposits and DeFi integrations. | Renzo focuses purely on restaking abstraction across chains; Swell combined LST + LRT + an L2 in one stack. |
| 4 | Rocket Pool | Decentralized ETH liquid staking protocol issuing rETH via permissionless node operators. | Both are non-custodial ETH liquid staking protocols issuing reward-bearing tokens. | Rocket Pool emphasizes a permissionless decentralized node-operator model and does not offer restaking or a dedicated L2. |
| 5 | Binance | Exchange-native wrapped beacon ETH. | Both in Staking (Liquid Staking). | Exchange-native distribution and liquidity; wBETH is usable on-chain and across the Binance ecosystem. |
| 6 | StakeWise | Permissionless, overcollateralized ETH staking. | Both in Staking (Liquid Staking). | Vault-based architecture where anyone can launch a staking vault; osETH is overcollateralized and protocol-insured. |
| 7 | Coinbase | Exchange-native ETH liquid staking. | Both in Staking (Liquid Staking). | Backed by a regulated US exchange; cbETH provides liquid access to Coinbase-operated staking. |
| 8 | Stader Labs | Multi-chain liquid staking infrastructure. | Both in Staking (Liquid Staking). | Multi-chain staking platform with a dual operator-pool design that lowers the bond to run a node. |
| 9 | Frax Finance | Hybrid stablecoin pivoting to RWA backing. | Both in Staking (Liquid Staking). | First-mover hybrid algo-collateral stablecoin, now pivoted to RWA-backed frxUSD with BUIDL — an institutional bridge to DeFi. |
| 10 | Mantle | L2-ecosystem ETH liquid staking. | Both in Staking (Liquid Staking). | Backed by the Mantle treasury and tightly integrated with the Mantle L2 ecosystem and its DeFi venues. |
| 11 | Ankr | Multi-chain liquid staking and node infrastructure. | Both in Staking (Liquid Staking). | Liquid staking across many chains backed by Ankr's global node infrastructure business. |