# SWELL (SWELL) — machine-readable summary

> FORTUNA SIGNAL · FORA-01 evidence dossier · Researched 2026-09-15 · https://ron-delhaye-studios.github.io/fortuna-signal-live/tokens/swell.html

## Definition
Swell is a non-custodial Ethereum liquid staking and restaking protocol. Users stake or restake ETH and receive yield-bearing liquid tokens (swETH as an LST, rswETH as an LRT) that can be used across DeFi. (Swell publishes no standalone whitepaper PDF; its official docs are the canonical source.)

## What the holder owns (FORA-01 Q1)
SWELL is the native governance and utility token of the Swell ecosystem (Ethereum liquid staking/restaking). Holders propose/vote on protocol upgrades and treasury via the Swell DAO; SWELL can be restaked (rSWELL) to help secure Swell L2 and earn rewards; it is used for gas on Swell L2. Fixed supply of 10 billion.

## Verification verdict
Class B (Class B) — FORA-01 scale: verification, not a quality ranking.
q1 VERIFIED · q2 VERIFIED · q3 VERIFIED · q4 VERIFIED · q5 PARTIALLY VERIFIED

## Plain-language utility
Governance token for Swell Network — holders vote on protocol decisions.

## Key risks & notes
Competes with dominant liquid-staking providers (Lido) in a commoditized market; restaking adds slashing and complexity risk. 50% of supply sits with team/investors, creating unlock overhang, and the token has traded far below listing levels.

## Primary source
- https://docs.swellnetwork.io/start-here/what-is-swell

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Machine summary generated at build time from the same fields as the human page. Free educational content — not investment advice.