TechFlow reports that Ethereum staking provider Swell Network has announced the launch of the first feature of rswETH v2, enabling users to now unstake rswETH into ETH at the prevailing market rate via the Swell app.
This upgrade streamlines the rswETH conversion process, ensuring holders can retrieve their staked ETH and accrued rewards at any time without relying on secondary markets.
The unstaking process consists of three steps: initiating a request, receiving an NFT and waiting (up to 21 days), then claiming ETH.
The wait time depends on factors such as validator status, exit queue length, and EigenLayer-native restaking withdrawal delays. Swell Network stated that the next phase of rswETH v2 will soon introduce delegation functionality, allowing rswETH holders to earn actual restaking yields.
Previous report: Swell Network announced it will conduct a snapshot on July 30, with its first token airdrop scheduled for October 8, allocating 2% of the $SWELL supply to Black Pearl holders.
