🔴 Critical Deadline: June 23, 2026
Published 6/20/2026, 11:06:04 PM
Swell Network is currently shutting down its Layer 2 network, Swellchain, as part of a strategic pivot to an AI-focused platform called Faro on the Hyperliquid ecosystem. Users must bridge their assets off the Swellchain L2 immediately to avoid permanent loss of funds.
🔴 Critical Deadline: June 23, 2026
The shutdown process is in its final stages. As of June 20, 2026, users have only three days remaining to secure their assets. After the final deadline on June 23, 2026, any assets remaining on the Swellchain L2 will be permanently unrecoverable [Source: https://x.com/swellnetworkio].
Immediate Action Steps for Users
To protect your funds, follow these procedures before the deadline:
- Bridge Assets Out: Use the officially designated bridge to move assets from Swellchain back to Ethereum Mainnet.
- Official Bridge Tool: Swell Superbridge [Source: https://t.co/LgXZOsaJKS].
- Identify At-Risk Assets: Ensure you have moved all supported tokens held on the L2, including:
- rswETH (Restaked Swell ETH)
- swETH (Swell Ether)
- SWELL tokens
- Any other ecosystem-specific tokens deposited on the L2.
- Verify Mainnet Holdings: Note that swETH, rswETH, and SWELL tokens held on Ethereum Mainnet are unaffected by this shutdown and do not require immediate action [Source: https://www.warpcast.com/0xdavide/0x702cec2d].
- Check Exchange Support: If you typically use centralized exchanges, be aware that major platforms have already halted support for Swellchain-based assets. Upbit halted SWELL deposits and withdrawals on June 10, 2026 [Source: https://www.swellnetwork.io/blog].
Shutdown Timeline Summary
| Date | Event | Status |
|---|---|---|
| June 10, 2026 | Upbit halted SWELL deposits/withdrawals | Completed |
| June 16, 2026 | Official Swellchain shutdown began | In Progress |
| June 20, 2026 | Current Date | 3 Days Remaining |
| June 23, 2026 | FINAL HARD DEADLINE | Assets Unrecoverable |
Strategic Pivot to Faro
The shutdown is part of Swell's transition to Faro, an AI platform launching on Hyperliquid (HYPE) [Source: https://www.swellnetwork.io/blog]. While the SWELL token will continue to exist on Ethereum, the project has not yet detailed the long-term migration path for L2 users beyond the requirement to bridge back to Mainnet.
Next Steps:
- Would you like me to check your wallet address for any remaining balances on Swellchain?
- I can monitor the Faro launch on Hyperliquid and alert you when the new platform goes live.