Liquid Restaking
Swell · Mainnet
Frequently Asked Questions
What is the current APY for Liquid Restaking?
The current spot APY for Liquid Restaking on Swell (Mainnet) is 2.70%. The 30-day average APY is 2.89%. All figures exclude external token rewards and are calculated from on-chain exchange rates only.
How much total value is locked in Liquid Restaking?
The total value locked (TVL) in Liquid Restaking is $36.2M. TVL measures the total ETH assets currently deposited in this vault.
Does the Liquid Restaking yield include token rewards?
No. Earnbase tracks on-chain APY only, derived from the vault's exchange rate changes over time. External incentives, token rewards, points programs, and liquidity mining bonuses are not included in the reported APY.
Which network is Liquid Restaking deployed on?
Liquid Restaking is deployed on Mainnet. Network choice affects transaction costs, settlement speed, and which protocols are available. On-chain APY figures on Earnbase are calculated from exchange rate data on Mainnet directly.
Compare with Other ETH Strategies
| Strategy | Platform | Network | APY | TVL |
|---|---|---|---|---|
| WETH Lend Pool | Arcadia | Base | 39.72% | $13.7K |
| Arcadia - Lend Autocompounder | Harvest | Base | 35.49% | $24.0K |
| stETH Looping | IPOR Fusion | Ethereum | 6.20% | $6.4M |
| Pool | IPOR Fusion | Base | 5.83% | $135.2K |
| ETH Reactor | Morpho | Base | 5.74% | $354.2K |
| Flagship ETH | Lagoon | Mainnet | 4.96% | $4.9M |
| Swaap Lend Vault | Euler | Mainnet | 4.92% | $809.6K |
| WETH Autopilot | Harvest | Base | 4.16% | $1.2M |
| Gami ETH | Lagoon | Ethereum | 3.86% | $279.7K |
| Wintermute Trading (Private Credit) | Wildcat | Mainnet | 3.75% | $1.7K |
Liquid Restaking
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Yield Overview
Liquid Restaking is a ETH yield strategy on Swell (Mainnet). It currently generates 2.70% APY (24h) with a 30-day average of 2.89%. The vault holds $36.2M in total value locked. APY is derived from the vault's on-chain exchange rate and does not include external incentives.
Swell · Mainnet
Market Benchmarking
Within the ETH ecosystem, this product ranks #15 out of 77 strategies. Its 2.70% yield is 8.1% higher than the market average of 2.50%. While not the highest available, this strategy outperforms the majority of tracked ETH opportunities.
How Liquid Restaking Compares
Liquid Restaking currently ranks #15 among 77 monitored ETH strategies. However, with a TVL of $36.2M, it holds significantly less capital than higher-TVL alternatives like Restaking Product ($1.38B).
Ecosystem Context
Positioned within the Mainnet ecosystem, this product's yield is 88.1% higher than the network average for ETH strategies. By TVL, this product ranks #18 of 45 ETH strategies on Mainnet.
About Swell
Swell is a DeFi protocol offering yield strategies tracked by Earnbase. Earnbase tracks 1 strategy on Swell.
ETH on Mainnet#6 of 45
Yield Sustainability
The 24h APY of 2.70% is nearly identical to the 30-day mean, with only a 6.4% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Yield Trajectory
Liquid Restaking has been on a 5-day downward streak, with APY falling from 2.95% to 2.71% over this period. Over the past 30 days, the product delivered positive yields on 30 out of 30 days. Week-over-week, yields have declined by 0.7%. The strongest 7-day period was May 05–May 11 averaging 2.99%, while the weakest was Apr 21–Apr 27 at 2.80%. Current 24h APY of 2.70% is 6.2% below the product's own 30-day average.
Weekly yields have declined for 1 consecutive week. The most recent 7-day average stands at 2.97%.
Weekly Breakdown
Historical APY Statistics
Over the past 165 days, Liquid Restaking's yield has shown a downward trend, with yields compressing from 2.98% to 2.83%, a 5.0% decline. The sustainability score of 92/100 aligns with a period of relative yield stability.
Historical TVL Statistics
Over the past 165 days, Liquid Restaking's total value locked has experienced a contraction, declining from $67.7M to $41.6M, a 38.5% reduction.
History
FAQ
Yield & Performance
Liquid Restaking on Swell offers a 24-hour APY of 2.70%, a 30-day average of 2.89% on ETH. Yields are variable and update daily based on protocol activity.
Liquid Restaking ranks #15 out of 77 monitored ETH strategies. Its current yield of 2.70% is 8.1% above the market average of 2.50%.
Earnbase rates the yield sustainability of Liquid Restaking at 92/100, classified as "Very Stable". The 24h APY of 2.70% is nearly identical to the 30-day mean, with only a 6.4% variance. This level of consistency is uncommon in DeFi and reflects a mature, well-calibrated yield source with predictable returns.
Over the past 165 days, Liquid Restaking has shown a downward yield trajectory. The average APY moved from 2.98% to 2.83%.
Liquid Restaking has a yield volatility rating of "Low" (standard deviation: 0.17pp over 165 days). The APY has ranged from 2.59% to 3.41% in the tracked period, with an average of 2.88%.
Liquidity & TVL
Liquid Restaking currently has a total value locked (TVL) of $36.2M in ETH deposits.
Liquid Restaking holds $36.2M in ETH deposits. Across all 77 tracked ETH strategies, deposits range widely depending on the protocol and curator reputation. This vault's TVL of $36.2M places it within the broader spectrum of ETH opportunities tracked on Earnbase.
By total value locked, Liquid Restaking ranks #18 of 45 ETH strategies on Mainnet. It currently holds $36.2M.
Liquid Restaking's TVL is currently declining. Over the past 165 days, TVL moved from $67.7M to $41.6M, a -38.5% change. The 30-day high was $74.7M and the 30-day low was $36.1M.
Despite rising yields, capital has been flowing out. This may indicate concerns about sustainability or broader market rotation. In general, rising TVL in a lending vault can compress yields as more capital competes for the same borrow demand.
Over the past 30 days, Liquid Restaking had 12 days of inflows and 17 days of outflows. The largest single-day inflow was +$1.3M (Apr 28, 2026) and the largest outflow was -$2.3M (May 03, 2026). Net 30-day TVL change: -15.1%.
Strategy & Access
Liquid Restaking operates on the Mainnet network and is managed by Swell. It accepts ETH deposits.
To deposit into Liquid Restaking, you need ETH tokens on the Mainnet network. Visit the Swell platform directly to connect your wallet and make a deposit.
Liquid Restaking ranks among 45 monitored ETH strategies on Mainnet. Its yield of 2.70% is 88.1% above the Mainnet average of 1.44%.
Liquid Restaking is deployed on Swell's vault infrastructure. Fee structures are set at the protocol and curator level. Consult the vault directly for current performance and management fee rates.
Swell is the DeFi protocol infrastructure that Liquid Restaking operates on. It provides the smart contract layer for deposits, withdrawals, and strategy execution on the Mainnet network.
For illustrative purposes only. Based on the current 2.70% on-chain APY for ETH. Does not include external incentives. Past performance does not guarantee future results. Actual returns may vary.
This page provides informational data aggregated from on-chain sources and is not financial advice. Always verify data directly with Swell before depositing.
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