Swell Restaking (rswETH) Review
Value-accruing rswETH, no licence file
of 10
Swell's rswETH charges a 10% fee after a zero-fee launch period, is reward-bearing, and points validators directly at EigenLayer to secure AVSs. Its withdrawal delays are documented, but the core repository has no licence file and slashing is not addressed.
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Fee
10%, after a zero-fee first 30 days
Receipt token
rswETH, value-accruing
Restaked into
EigenLayer, to secure AVSs
Withdrawal
Up to ~21 days; ~1 day with buffer; DEX exit available
Licence
No LICENSE file
Scores
Each criterion carries equal weight. The overall score is the average of these 5 scores — (7.0 + 3.0 + 7.0 + 1.0 + 6.0) ÷ 5 = 4.8.
Pros
- Fee published as 10% following a zero-fee first 30 days
- rswETH is reward-bearing, appreciating as staking and restaking rewards accrue
- Points validators directly at EigenLayer smart contracts to secure AVSs
- Withdrawal delays documented: 9-16 day exit queue plus EigenLayer's 7-day delay, buffer enables ~1 day
- Sigma Prime named as auditor, with Gauntlet and Chaos Labs as risk firms
Cons
- The core repository has no top-level LICENSE file, and per-file SPDX headers could not be verified
- Slashing conditions are not addressed on the fetched page
- No insurance is mentioned
Exit routes documented, at length
Swell publishes the withdrawal maths for rswETH: a 9 to 16 day validator sweep and exit queue plus EigenLayer's 7-day native restaking delay, up to roughly 21 days in total, with a buffer enabling about a day and a secondary-market DEX exit available for those who will accept the price. The fee is 10% after a zero-fee first 30 days, and rswETH is reward-bearing.
The licence gap
The core v3-core-public repository has no top-level LICENSE file, and the per-contract SPDX headers could not be fetched. Code published without a licence reserves all rights by default — the weakest position on this criterion, and the reason the licence score sits at the bottom.
Slashing unaddressed
The introduction page points validators at EigenLayer to secure AVSs but does not address the additional slashing conditions that entails, and no insurance is mentioned. Sigma Prime is named as security auditor, with Gauntlet and Chaos Labs on risk.
How it compares
Eigenpie (mLRT)
Isolated per-LST restaking, little else documented
Karak
Nine-day withdrawal with a slashing window, docs blocked
EigenLayer
The restaking layer itself, opt-in slashing stated
Symbiotic
Twelve named auditors and a stated risk framework
Kelp DAO (rsETH)
10% fee and a delayed-open licence
ether.fi (eETH / weETH)
MIT-licensed, three-way reward split published
YieldNest (ynETH)
BSD-licensed with slashing stated plainly
Mellow
Six named auditors on a Symbiotic-and-EigenLayer vault
Renzo (ezETH)
Fee split and withdrawal delays published in full
Sources
Scored from published primary sources rather than hands-on use. Every figure above comes from one of the pages below, on the date shown. Manufacturers change prices and specifications without notice — if something here no longer matches the source, tell us and we will correct it.
- 1.Swell — introducing rswETH (fee, token, restaking) — checked
- 2.Swell — rswETH withdrawals — checked
- 3.Swell — v3-core-public repository (no LICENSE file) — checked
Frequently asked questions
What does Swell's rswETH charge?
10% following a zero-fee first 30 days after launch.
Is Swell's restaking code open source?
The core v3-core-public repository has no top-level LICENSE file, so the code reserves all rights by default; per-file SPDX headers could not be verified.
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