Swell's liquid staking token swETH saw its on-chain exchange rate diverge sharply from market pricing on Friday afternoon, with the contract rate reading approximately 1.203 ETH while a Uniswap pool priced it near 1.089 WETH — a gap of roughly 10%. Swell stated that the rate requires correction and has paused redemptions until the issue is resolved. The discrepancy raised concerns among holders about the accuracy of swETH's underlying staking yield accounting.