Swell operates as a non-custodial staking protocol aimed at enhancing the liquid staking and restaking experience within the DeFi sector, focusing on Ethereum's security and expansion. It allows users to stake or restake ETH, earning passive income through blockchain and AVS rewards, and provides yield-bearing liquid tokens for further engagement in DeFi.

Swell Labs developed this protocol to enable Ethereum holders to generate yield through staking without locking up capital. Swell's goal is to foster a secure, decentralized, and transparent financial ecosystem, emphasizing economic inclusivity and starting with liquid staking as a core component of DeFi integrated with the Ethereum network.