Shutdown Timeline and Deadlines
Published 6/21/2026, 12:22:55 AM
Swell Network is currently sunsetting its Layer-2 network, Swellchain, as it pivots to Faro, an AI platform built on the Hyperliquid ecosystem. Users must manually bridge their assets back to the Ethereum mainnet before the final hard deadline of June 23, 2026. After this date, any funds remaining on the Swellchain L2 will be permanently unrecoverable [Source: https://coinmarketcap.com/cmc-ai/swell-network/latest-updates/].
Shutdown Timeline and Deadlines
The shutdown process began in April 2026 following a strategic decision to move away from independent L2 infrastructure due to lower Ethereum L1 fees and a maturing restaking market [Source: https://www.swellnetwork.io/post/sunsetting-swellchain-from-l2-to-faro].
| Event | Date | Status |
|---|---|---|
| Strategic Pivot Announcement | April 2026 | Completed |
| Exchange Deposit Suspensions | June 2 – June 10, 2026 | Completed (Upbit, Bithumb) |
| Final Bridging Deadline | June 23, 2026 | Urgent Action Required |
| Chain Termination | Post-June 23, 2026 | Final |
Asset Recovery Process
To secure your assets, you must follow these steps before the June 23 deadline:
- Exit DeFi Positions: Manually withdraw any liquidity or collateral from protocols operating on Swellchain, such as Tempest or Ambient [Source: https://www.swellnetwork.io/post/sunsetting-swellchain-from-l2-to-faro].
- Use the Official Bridge: Navigate to the official migration partner, Superbridge, to move assets from Swellchain to Ethereum Mainnet [Source: https://superbridge.swellnetwork.io].
- Verify on Mainnet: Confirm that your ETH, swETH, or rswETH has arrived in your Ethereum wallet.
Impact on Specific Tokens
- SWELL Token: The native SWELL token is an ERC-20 on Ethereum and is not being discontinued. However, 859.9 million tokens (8.6% of supply) were burned in April 2026 as part of the transition [Source: https://coinmarketcap.com/cmc-ai/swell-network/latest-updates/].
- swETH & rswETH: These liquid restaking tokens continue to function normally on the Ethereum mainnet. Only the versions held specifically on the Swellchain L2 require bridging [Source: https://www.swellnetwork.io/post/sunsetting-swellchain-from-l2-to-faro].
- Exchange Assets: If you hold SWELL on centralized exchanges like Upbit or Bithumb, you may face restrictions. Upbit suspended SWELL services on June 10, 2026, and Bithumb ended multichain support on June 2, 2026 [Source: https://xangle.io/en/insight/events/6a2b95bf0ce02a3cad11cc37].
Strategic Shift to Faro
The shutdown marks Swell's transition to Faro, an AI intelligence platform. This new direction leverages the Hyperliquid (HYPE) ecosystem rather than maintaining a standalone rollup [Source: https://xangle.io/en/insight/events/6a2b95bf0ce02a3cad11cc37].
Conclusion: You have until June 23, 2026, to move assets off Swellchain via Superbridge. Failure to do so will result in the total loss of those assets as the network infrastructure is decommissioned.
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