Launched in March 2021, StakeWise is a liquid Ethereum staking protocol that enables DeFi users to unlock the earnings potential of ETH2. The protocol is non-custodial, tokenizing stakers' rewards separately from the deposits. This allows for the application of staked ETH capital in DeFi, reinvestment (compounding) of returns, and more efficient management of staked capital. StakeWise employs various mechanisms to boost staking APR and rewards users in its native token for liquidity provision and choosing StakeWise, prioritizing yield and stake liquidity.

StakeWise is governed by the StakeWise DAO, which utilizes the SWISE governance token for voting and incentivizing protocol adoption. SWISE holders have control over protocol parameters such as fees, criteria for placement in the activation queue, choice of node operators, and Treasury disbursements through frequent voting based on StakeWise Improvement Proposals (SWIPs). Between 2021 and 2025, 51% of the SWISE supply will be allocated to the community to achieve genuine community-led governance.