Swell announced on X that Wavedrop 3 will issue 125,000,000 SWELL real token rewards, and no more points. Tokens will flow into corresponding wallets through a new reward mechanism, replacing Black Pearls and ecosystem points.
From December 17, these points will stop accumulating. Users will then be able to track Wavedrop income on-chain in wSWELL. wSWELL is a locked 1:1 wrapper of SWELL distributed through Merkl. Like Wavedrops 1 and 2, it will be obtained by holding Swell assets or using approved DeFi protocols. At the end of each Wavedrop, wSWELL will be redeemable for its full value of SWELL, or at a discounted price at any earlier time.