ether.fi (ETHFI)

$ETHFI (ETHFI) is the governance token that drives the ether.fi network, a decentralized, non-custodial delegated Ethereum staking protocol. $ETHFI will enable community members to manage critical aspects of the protocol and direct the growth strategy of weETH, the wrapped non-rebasing version of ether.fi’s Liquid Restaking token eETH. $ETHFI is the governance token for both eETH and weETH holders and is set to launch in mid-March of 2024.

$ETHFI token holders will be able to propose and approve:

$ETHFI also plays a role in securing the network. ether.fi node operators will be required to stake $ETHFI as “skin in the game” in order to ensure the nodes operate with minimal slashing risk. Once a node operator is approved by the community, they will deposit a specific amount of $ETHFI per node before receiving delegated validator keys. This stake needs to be maintained in order to continue operating the node. Rewards are derived from consensus rewards, transaction fees and maximum extractable value (MEV).

ether.fi is a decentralized, non-custodial liquid staking protocol for Ethereum which also allows for the creation of a node services marketplace.

With ether.fi, the staker controls their keys and retains custody of their ETH which reduces risk, while delegating staking to a node operator. The ether.fi mechanism also mints an NFT for every validator that is launched via the protocol. weETH is minted from a liquidity pool that contains these NFTs. These NFTs control the ETH staked and store metadata related to the validator. These NFTs can be used to create a programmable layer on top of staking infrastructure. $ETHFI holders will be able to direct the growth strategy of weETH.

ether.fi also collaborates with EigenLayer, a native restaking solution that borrows Ethereum’s security offerings to validate new applications on the networks and allows stakers to earn additional yield on ETH.

ether.fi’s primary token is eETH, a rebasing ERC-20 liquid restaking token. ERC-20 eETH can be wrapped as weETH, a non-rebasing ERC-20 version of the token.

ether.fi was founded in 2022 by Mike Silagadze and Rok Kopp to build a non-custodial ETH staking protocol for liquid staking that “allows stakers to retain control of their keys while delegating validator operations to node operators.” The Ether.fi Foundation team believes “decentralized, non-custodial staking is an essential and foundational good for Ethereum.”