Swell Wavedrop 3 introduces a new rewards system, allocating 125,000,000 SWELL tokens directly to users instead of using points. Starting December 17, 2024, users can track their wSWELL (locked SWELL) rewards on-chain via Merkl, which can be redeemed for SWELL at full value at the end of each Wavedrop or unlocked early at a discount. Wavedrop 3 will distribute tokens in separate Waves, rewarding early participants more. Black Pearls and Ecosystem Points will stop accruing on December 17, transitioning to SWELL rewards. Users can claim 35% of their wSWELL immediately, while the remaining 65% unlocks linearly over 10 weeks.

Network

Ethereum