Swell has released a Wavedrops update, revealing that 125 million Swell tokens will be placed in Wavedrop 3 and there will be no more points. Only the tokens will flow into the user's wallet through a new reward mechanism, replacing Black Pearls and Ecosystem Points. These points will stop accumulating from December 17th, and Wavedrop earnings will be tracked on the chain as wSWELL. As with Wavedrops 1 and 2, wSWELL will be obtained by holding Swell assets or using an approved DeFi protocol. At the end of each Wavedrop, wSWELL will be redeemable for SWELL, or at an earlier date for a discounted amount.