StakeWise, which debuted in March 2021, is a liquid staking solution for Ethereum designed to help DeFi participants access the value of ETH2. The non-custodial system separates reward tokens from deposit tokens, enabling users to utilize their staked ETH within DeFi applications, compound earnings, and handle capital with greater efficiency. To emphasize yield and liquidity, the protocol includes features that increase staking APR and distributes its native token to those who provide liquidity or select StakeWise.

Governance is managed by the StakeWise DAO through the SWISE token, which serves both voting and incentive purposes. Holders of SWISE determine protocol settings—such as fees, node operator selection, activation queue rules, and Treasury spending—by voting on StakeWise Improvement Proposals (SWIPs). To establish genuine community-led governance, 51% of the total SWISE supply is scheduled for distribution to the community from 2021 through 2025.