On August 14th, the Ethereum staking project Swell announced the launch of the swBTC token, an Ethereum-based liquidity staking token. Users can obtain swBTC and generate earnings by depositing wBTC (a token that is pegged 1:1 to BTC). In the Ethereum network, wBTC enables users to participate in DeFi activities without relinquishing their ownership of Bitcoin. Swell anticipates that the staking rewards will start being distributed around mid-September. Until then, holders of swBTC will receive three times the Black Pearls reward and Symbiotic points.