Farm · Review
InactiveSwell L2 Farm Review 2026: Pre-Launch Deposits for a Sunsetting L2
Swell L2 Farm took pre-launch deposits for Swell L2, a restaking-focused Ethereum rollup. Swell has since announced the sunset of Swellchain, so the farm is effectively over and remaining users should withdraw.
By the DappsAtlas editorial team · Updated
DappsAtlas score
4.5/10
Weak
Our verdict on Swell L2 Farm
4.5/10Swell L2 Farm was an early-access way to back a restaking-focused Ethereum L2, and it is now mostly a wind-down case. Swell has announced the sunset of Swellchain, with a June 15, 2026 withdrawal deadline. Anyone with funds there should withdraw. New users have little reason to deposit. Those interested in Swell should look at swETH or rswETH instead, and weigh the stacked restaking risks.
Score breakdown
How Swell L2 Farm scores
- Security
- 6.0/10
- Ease of use
- 6.0/10
- Fees
- n/a
- Features
- 5.0/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Swell L2 Farm?
Swell L2 Farm was a pre-launch deposit programme for Swell L2, which DefiLlama describes as the L2 for restaking. It is part of Swell Network, which runs the liquid staking token swETH and the liquid restaking token rswETH. DefiLlama tracks about $1.83 million in TVL on Ethereum and lists the SWELL token.
The farm is now effectively finished. Swell's homepage says it is evolving into Faro, a research-to-trade platform for Hyperliquid. A post dated April 28, 2026 announces the sunset of Swellchain and says users must withdraw funds before June 15, 2026.
For readers, this page is mainly a record of what the farm was and a reminder to withdraw. Swell still presents swETH and rswETH on its homepage, and the project reports a large user base across its products, but those figures cover the whole protocol, not this farm.
How Swell L2 Farm works
Swell is a liquid staking and restaking protocol. Users stake ETH to receive swETH, or restake through EigenLayer to receive rswETH, a liquid restaking token that earns extra rewards for securing other networks.
Swell L2 was planned as a layer 2 rollup on Ethereum built around restaking. Before launch, the farm accepted deposits so that early users could be credited. A third-party snippet says deposits could also earn Swell points and EigenLayer rewards. The farm's TVL is tracked on Ethereum, which suggests assets sat in mainnet contracts rather than on the L2 itself.
Swell has since moved away from the L2. It now says Swellchain is being sunset in favour of Faro, so the farm's purpose, feeding an L2 launch, no longer applies.
5 features
Key features
01
Pre-launch deposits
Users deposited assets before Swell L2 launched, as DefiLlama describes it. This gave early supporters a way to position for rewards.
02
Liquid restaking inputs
The farm was built around rswETH and swETH, Swell's restaking and liquid staking tokens. The homepage shows rswETH restaked on EigenLayer to help secure Swell L2.
03
Boosted points
One source reports a boosted rswETH pool with a 4x Pearls multiplier and EigenLayer rewards. This is a single-source claim and may no longer apply.
04
DeFi integrations
The homepage lists integrations such as Symbiotic, EigenLayer, Pendle-related Equilibria, Derive and Sommelier for putting swETH or rswETH to work.
05
Risk and oracle partners
The homepage names Gauntlet and Chaos Labs for risk work, and Chainlink and Redstone for oracles, around Swell's products.
Pros and cons
What we like
- Backed by Swell, an established liquid staking and restaking protocol with products in use across DeFi.
- Homepage lists Sigma Prime and Hexens as auditors and Immunefi for bug bounties.
- Risk and oracle partners are named, including Gauntlet, Chaos Labs and Chainlink.
- Swell has communicated the sunset and a clear withdrawal deadline.
- Fee Flow ties protocol revenue to SWELL buy-and-burn, which is a stated token mechanism.
Watch out for
- The L2 the farm was built for is being sunset, and Swell says users must withdraw funds from Swellchain before June 15, 2026.
- Deposits were pre-launch, so the point was to earn points and airdrop eligibility rather than a fixed, published yield.
- DefiLlama lists no audits for this specific farm; the homepage names auditors only for Swell's products in general.
- Layers of risk stack up: liquid restaking tokens, EigenLayer restaking, bridging and an L2 rollup.
- Swell is shifting focus to Faro, a research-to-trade platform for Hyperliquid, so the restaking L2 is no longer the core roadmap.
- Deposit terms, lockups and withdrawal conditions for the farm are not published on the homepage.
Swell L2 Farm fees
The farm's own fees are not published on the homepage. Users would see any deposit, bridge or withdrawal costs in the Swell app and in Ethereum gas at the time of each transaction.
At protocol level, Swell says its Fee Flow mechanism uses 100% of protocol revenue to buy and permanently burn SWELL through continuous Dutch auctions. That affects token supply, not what a depositor pays.
Is Swell L2 Farm safe?
The homepage lists Sigma Prime and Hexens as auditors, Immunefi for bug bounties, and Gauntlet and Chaos Labs for risk management. DefiLlama lists zero audits for this farm, and the homepage does not say which audits cover its deposit contracts. Readers should check scope before relying on them.
Risks include smart-contract bugs, restaking slashing risk, depegs of liquid tokens, and bridge or L2 risk. The sunset adds operational risk: funds left on Swellchain after June 15, 2026 may be harder to recover, so follow only official instructions. Swell does not publish licensing information on the homepage.
6 steps
How to get started with Swell L2 Farm
- 1
Read Swell's April 28, 2026 sunset announcement and note the June 15, 2026 withdrawal deadline.
- 2
Connect the wallet you used for the original deposit to the official Swell app, reached from the official website.
- 3
Check whether any assets or rewards are still on Swellchain or in the L2 pool.
- 4
Withdraw them following the instructions in the announcement, and confirm gas costs before signing.
- 5
Verify every contract address and link against the official site to avoid phishing.
- 6
Decide whether to hold swETH or rswETH on Ethereum, or move into other products.
Who Swell L2 Farm is for
This page is for people who deposited into Swell L2 Farm and want to know where it stands, and for those researching Swell's history. It is not aimed at new depositors, since the L2 it served is being shut down.
Swell L2 Farm FAQs
What was Swell L2 Farm?
It was a pre-launch deposit programme for Swell L2, described as the L2 for restaking. Users put in ETH-based assets ahead of the chain going live, in return for points and potential rewards.
Is Swell L2 Farm still active?
Swell announced on April 28, 2026 that it is sunsetting Swellchain and moving toward Faro. It says users must withdraw any funds from Swellchain before June 15, 2026. Check the official Swell announcement for exact steps.
What should I do if I still have funds on Swell L2?
Swell says users must withdraw funds from Swellchain before June 15, 2026. Anyone with assets still on the chain should read the official sunset post and follow its withdrawal instructions soon.
Does the farm have a token?
The homepage ties the project to the SWELL token and says Fee Flow uses protocol revenue to buy and burn SWELL through auctions. The farm page does not state a fixed reward amount.
Has Swell been audited?
The homepage lists Sigma Prime and Hexens as auditors and Immunefi for bug bounties. DefiLlama shows no audits for this farm specifically, so check the audit scope before assuming it covers a given contract.
What is Swell doing instead?
Swell says it is evolving into Faro, a research-to-trade platform for Hyperliquid. Its liquid staking token swETH and restaking token rswETH are still shown on the homepage.
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How we checked
Sources
Last updated . Spotted an error? Tell us and we will correct it.