Swell increases its first-season token allocation ratio from 7% to 8%

PANews reported on May 23 that the liquidity re-staking platform Swell Network announced it is finalizing the necessary arrangements for the Token Generation Event (TGE), including auditing rswETH withdrawals. However, the exact date of the TGE is still undetermined and is expected to take place in the coming weeks. To express gratitude for users' patience, Swell will increase the token allocation ratio for the first season (The Voyage) from 7% to 8% and establish mechanisms to reward the loyalty of long-term community members in the airdrop.

Swell Network stated that due to the uncertainty of the audit results and prioritization of security, the specific TGE date remains undetermined. Although this process has been delayed compared to the initial expectation of April, Swell apologizes for the delay. The platform also emphasized that Sybils will not be rewarded.