Yes, as you can see in the below video, the Pebble Time 2 is completely waterproof!
You can go swimming up to 30 meters deep (no deep sea diving!) with the watch on. This is a great feature for a smart watch at this price point and with these features. Most other smart watches are either more expensive or you can’t go swimming with them.
Since swimming is a great form of exercise, being fully waterproof is very important to me for my smart watches.