Swell chooses OP Stack over Polygon for Layer 2 migration

Swell, a liquid restaking protocol, has announced its decision to migrate its Layer 2 network to the Optimism Superchain, abandoning its previous plan to utilise Polygon’s (CRYPTO:MATIC) Chain Development Kit (CDK). 

The move marks a strategic shift as Swell aims to leverage the Optimism (CRYPTO:OP) OP Stack for improved scalability and integration. 

According to Swell’s official blog, the migration is designed to enhance capital efficiency using its Proof of Restake model. 

The protocol intends to provide restaking yield and security services for the Superchain while aligning with Optimism’s requirements. 

This includes adopting ETH as the rollup gas token and allocating part of sequencer revenues to the Optimism Collective. 

Daniel Dizon, Swell’s Founder, expressed enthusiasm for the transition, stating, “The Superchain is home to the biggest success stories in DeFi, with 4 of the top 5 chains utilizing Optimism’s OP Stack. Swell is excited to collaborate with OP Labs and the wider Optimism Collective to build out our shared vision for scaling Ethereum – and make Swell L2 the home of all restaking activity in the Superchain.” 

This migration aligns Swell with other prominent industry players, such as Coinbase, Uniswap, and Sony, which have also integrated with the Superchain using the OP Stack framework. 

Recently, Kraken announced its own Layer 2 network, Ink, built on the same platform to join the Superchain ecosystem. 

Swell’s initial plans involved using Polygon’s CDK, which focuses on zkEVM technology for customised Layer 2 chains. 

Although Swell has shifted its strategy, the protocol emphasised its continued belief in Polygon’s efforts. 

Data from DefiLlama reveals that Swell’s products collectively hold a total value locked of over $1.35 billion. 

Polygon’s CDK, introduced in 2023, aims to support the transition of EVM Layer 1 chains to Layer 2 and foster a zero-knowledge (ZK) approach. 

Despite the change, Swell’s alignment with the Optimism Superchain highlights its commitment to scaling Ethereum (CRYPTO:ETH) through a unified framework and advancing restaking capabilities.

At the time of reporting, the Polygon price was $0.3325, and the Optimism price was $1.72.