Swell
TEMPEREDLiquid Restaking · Ethereum · $1B+ TVL · 10 contracts
Public risk assessment — scores are produced with the same methodology as monitored protocols
Security Profile
72
70
72
60
52
52
50
75
65
89
72
70
72
60
52
52
50
75
65
89
Audit History
Bug Bounty Program
Assessment
Liquid staking/restaking protocol (28 months for swETH). D5 moderate (52) for early governance. D6 moderate (52) for growing maturity. EigenLayer restaking dependency adds compositional risk (D4=60). Dual-product model increases surface area.
Dimension Breakdown
How scores work →- Admin controls staking parameters
- swETH/rswETH minting permissionless
- Restaking module with EigenLayer integration
- Node operator whitelist
- Liquid staking derivative (swETH) with restaking option (rswETH)
- EigenLayer restaking adds yield but also risk
- Withdrawal mechanism functional
- Dual-product economics (staking + restaking)
- Internal oracle for swETH/rswETH exchange rates
- Chainlink feeds for external pricing
- Rate update bounded by sanity checks
- Standard oracle integration
- swETH live since early 2023 (~28 months)
- rswETH restaking newer (~18 months)
- Moderate production history
- Z-factor: 0.824
- SWELL token governance, still early
- Admin controls key parameters
- Upgradeable proxy pattern
- Governance decentralization in progress
- Maximum resilience under independent adversarial testing
- Comprehensive security coverage across all attack surfaces
- Active bounty program incentivizes continuous scrutiny
- No validated adversarial findings — score set to neutral baseline
- Professional team operations
- Node operator management
- EigenLayer operational dependency
- Growing monitoring infrastructure
- swETH/rswETH integration across DeFi
- EigenLayer restaking dependency
- Multiple yield strategies compound risk
- Moderate composition surface expanding with restaking
- Appears in 2 cross-protocol cascade chain(s)
- Member of 4 dependency cluster(s)
- Score: 89/100 (higher = more isolated from systemic risk)
- Source: cross_protocol_composition.json dependency analysis
- Standard Solidity with OpenZeppelin
- EigenLayer SDK integration
- Modern compiler versions
- Standard dependency management
Risk Drivers
Primary risk factors driving this score, ordered by severity.
Adversarial Risk Signals
Observable security posture indicators. These signals reflect publicly verifiable information and responsible disclosure outcomes. No specific vulnerability details are exposed.
Score History & Verification
Score provenance tracking begins with the next reassessment.
On-Chain Data
- Protocol Slug
- "swell"
- Oracle
- BRORegistry (Base)
- Evidence
- IPFS (pinned)
- Staleness Threshold
- 24 hours
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