On September 15, BlockBeats reported that, according to Dune data, swBTC, a Bitcoin liquidity re-collateralization token introduced by Swell, achieved a total value locked (TVL) of over $30 million within just 10 days of its launch. Additionally, the token has attracted more than 560 independent holding addresses.
A substantial portion of the swBTC supply has already been integrated into major decentralized finance (DeFi) protocols like Curve and Morpho, where it accounts for 8% of the liquidity. Swell is also in the process of developing a Layer 2 (L2) solution, with 68% of the swBTC supply already deposited by users in anticipation of the L2 launch.
