ether.fi is a decentralized native Liquid Restaking protocol (nLRP) developed on the Ethereum blockchain network. This protocol allows users to stake ETH and receive eETH, the platform’s native staking token, at a 1:1 ratio.
For more detailed information about the ether.fi protocol, please stay tuned for upcoming content from AZcoin.
What is ether.fi?
ether.fi (ETHFI) is a decentralized Liquid Restaking Protocol (nLRP) developed on the Ethereum blockchain. This protocol allows users to stake ETH and receive eETH, the platform’s native staking token, at a 1:1 ratio.
A brief overview of eETH: with this token, users can optimize capital efficiency by providing liquidity to supported pools on ether.fi. This allows users to earn various rewards, including APR, APR restacking, as well as bonus points from ether.fi and EigenLayer.
Additionally, ether.fi offers node services, enabling users to register and run nodes to support the platform’s infrastructure and earn block rewards.
How does ether.fi work?
The way ether.fi works is relatively simple as it will go through 3 main stages: staking ETH or liquid staking tokens, retaking eETH, and receiving rewards. If you want a more detailed description, it would be as follows:
- Staking ETH or liquid staking tokens: At this stage, users will deposit ETH into Ether.fi, create a withdrawal vault and receive two tradable NFTs, T-NFT and B-NFT. The T-NFT contains information about the amount of staked ETH and is transferable, while the B-NFT serves as proof of the right to withdraw staked ETH and can be traded on secondary markets.
- Restaking eETH: At this stage, users can retake eETH on EigenLayer to help enhance the security of protocols and earn rewards.
- Earning rewards: At this stage, users can receive the following rewards:
- APR from staking and restaking: Users earn APR rewards from staking ETH and restaking eETH.
- Ether.fi points: When staking ETH or eETH, users receive Ether.fi points, which can be used to reduce transaction fees on Ether.fi.
- EigenLayer points: Users receive EigenLayer points when restaking eETH on EigenLayer, which can be used to participate in EigenLayer governance.
What’s special about ether.fi?
The ether.fi platform stands out with the following features:
- Intuitive Interface: ether.fi offers a clear and user-friendly staking interface with simple steps, enhancing the overall user experience on the platform.
- Compatibility with Multiple DeFi Protocols: Recently, ether.fi has continuously collaborated with various DeFi protocols on the market to expand the use cases for eETH holders. eETH can be used to provide liquidity to a range of DeFi protocols, including Pendle, Balancer, Curve, Maverick, and more.
- Liquidity Provision with a Single Token: On ether.fi, users can provide liquidity using only the eETH token in the Pendle pool, which helps mitigate Impermanent Loss. Additionally, users will earn extra rewards from EigenLayer and ether.fi.
What is an ETHFI token?
ETHFI is the official base token of ether.fi, used primarily for operations to manage key components in the protocol.
Specifications
- Token Name: ether.fi
- Ticker: ETHFI
- Blockchain: Ethereum
- Token Standard: ERC-20
- Contract: 0xfe0c30065b384f05761f15d0cc899d4f9f9cc0eb
- Token type: Updating
- Total Supply: 1.000.000.000 ETHFI
- Circulating Supply: 115.200.000 ETHFI
Distribution rate
Currently, ETHFI tokens are being allocated according to the following ratio:
- Investors and advisors: 32.5%
- Treasury: 27.24%
- Team: 23.26%
- Airdrop: 11%
- Liquidity: 3%
- Binance Launchpool: 2%
- Protocol Guild: 1%
ETHFI token Use Cases
The ETHFI token is currently used to manage key components of the protocol as well as participate in governance and protocol upgrades.
Where to trade ETHFI tokens?
If you are looking for a place to trade and exchange ETHFI tokens, the best crypto exchanges we can recommend for you are Binance, Gate.io, Bybit, HTX,…
Where should ETHFI tokens be stored?
If you need a place to store ETHFI tokens safe and secure, we suggest you try MetaMask, Coin98 Wallet, Trust Wallet,…
Conclusion
Finally, we have concluded all the content that we can compile and share with you. Thank you for taking the time to follow and see you again in new content at AZcoin.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
