Swell integrates Chainlink Proof of Reserve (PoR) on Ethereum to enhance transparency regarding the reserves backing rswETH, a liquid staking token. Moreover, Chainlink will support Swell L2, a forthcoming Layer 2 solution designed for restaking with Chainlink CCIP. These integrations strengthen the long-standing collaboration between the two entities, aimed at advancing liquid staking and restaking across DeFi.

Chainlink Proof of Reserve offers a comprehensive tracking solution for ETH reserves supporting rswETH tokens, providing Swell's liquid restakers with increased transparency and confidence in the ETH reserves. The PoR feed, accessible for off-chain and cross-chain assets, operates as a cross-chain reserve feed, identifying authenticator addresses through the IPoRAddressList Wallet Address Manager contract. It calculates and discloses the total ETH staked on the Consensus layer, ensuring accuracy in determining the staking ETH and complete rswETH supply ratio.

Swell is leveraging multiple solutions on the Chainlink platform, including Chainlink BUILD, to accelerate ecosystem development and widespread adoption of liquid staking and restaking. CCIP facilitates cross-chain swETH transfers, while Price Feeds provide reliable price data for estimating gas prices for transactions. PoR aids in monitoring swETH reserves. Swell has surpassed $1 billion in TVL across its restaked LST and LRT.

Daniel Dizon, Swell's founder, expresses satisfaction with the integration of Chainlink Proof of Reserve for accurate tracking of rswETH reserves and the support for Swell L2 with Chainlink CCIP. Chainlink, known as a leading decentralized computing platform, plays a pivotal role in enhancing the authenticity of the web, facilitating real-time data connectivity, off-chain computation, and secure cross-chain interoperability across various blockchains.