ether.fi (ETHFI)

What is ether.fi (ETHFI)?

Ether.fi is a non-custodial, decentralized delegated staking protocol with a LST, i.e., liquid staking token.

The Ethereum blockchain is home to some of the most popular financial applications that the DeFi sector has to offer, including the likes of Uniswap, Aave, 1inch, SushiSwap, and so much more.

Whether it be derivatives, futures, or spot trading, you can be sure to satisfy any sort of financial itch you may have.

But if your interests lie towards the more passive end of things, like staking and providing liquidity, or others of the sort, then the choices for that are quite numerous too, including RocketPool, StakeWise, Lido, Diva, and more.

And a fairly new protocol that has been inspired by RocketPool and the like, which we’ll be discussing today, happens to go by the name of ether.fi.

Among its most distinguishing characteristics is that it offers stakers some much-needed control over their keys.

The mechanism underlying ether.fi enables the creation of an entire marketplace for node services where node operators and stakers may enroll nodes to offer infrastructure services.

The team behind ether.fi is of the belief that non-custodial, decentralized staking can be an essential and foundational good for Ethereum.

They also claim that the need for various solutions that may serve several types of purposes or users is still very much needed within the space, and that they believe they’re catering to all of that through their services.

Besides this, ether.fi’s team states that it takes ethics quite seriously, and they want to have a community that can hold them accountable for living up to a set of ideals.

Like decentralization for one, where they say they’ll not compromise on the decentralized and non-custodial nature of the protocol.

Stakers need to maintain control over their ETH.

In addition, the ether.fi protocol’s a real business, possessing a sustainable revenue model.

Apparently, the team’s in this with the long term in mind; they plan and think on a scale of decades, with no ponzinomics.

And finally, they plan on always doing right by the Ethereum community, and should they mess up, they’ll own up to it and correct their course quickly.

Think of all this as the principles underlying this protocol, which may probably be among the first things that new users should know about.

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Key Features of ether.fi (ETHFI)

Among the key features underlying ether.fi would be the functionality it brings for liquid staking.

Rather than locking up their ETH for longer periods, users get liquid tokens, like ether.fi. Staked ETH, or eETH for short, in exchange for the ETH they stake.

Such tokens can represent the ETH being staked, which users can then use or trade within numerous decentralized finance (aka DeFi) applications, offering more liquidity and flexibility in the process.

Other than that, there’s stuff like delegated staking, liquidity pools, and node services, some of which we’ll be looking at below.

Development and Technology of ether.fi (ETHFI)

Foundational Technology Behind ether.fi (ETHFI)

Like with any blockchain platform out there, ether.fi comes with its own set of smart contracts, and these are basically the code underlying every single operation that takes place on the protocol.

Not only that, but its smart contracts have already been audited by the likes of NetherMind, Hats Finance, Omniscia, Certik, and Solidified.

All of their audit reports are available on their website, so if you’re of a technical background, then you can go over and see the various issues found or whether or not they’ve been resolved yet.

Still, the fact that it has acquired audits from these entities does not, in and of itself, completely negate the possibility of any kind of unwanted action on the part of ether.fi.

You should know that just because a protocol has been audited, that does not mean that something like a rug pull or any other mishap like a hack or something cannot happen; you would do well to remember something like SafeMoon or at least many other protocols that have either acted maliciously despite their promises or have had a massive attack happen to them because of exploits.

So, as you might have heard time and time again within the realm of cryptocurrency, do your research before trading on any protocol.

Still, as highlighted earlier, it does give stakers complete control over their private keys, which is a substantial shift from conventional staking pools that force users to hand control over their assets, so that should at least lower the likelihood of something like a rug pull happening.

Innovations Brought by ether.fi (ETHFI)

Well, there are a couple of things that may make ether.fi unique.

For one, there’s liquid restaking that it offers.

Users may stake their ETH and get eETH, as we discussed previously.

But this eETH may then be restaked even more or utilized throughout various DeFi applications, potentially improving yield bearing and utility.

Then there’s its integration with the EigenLayer too, which warrants a mention.

EigenLayer can then repurpose that staked ETH to validate several software modules beyond Ethereum’s base layer, which may raise a staker’s potential earnings.

Such a mechanism may even improve staked assets’ returns, contributing to the robustness or security of Ethereum itself.

ether.fi (ETHFI) Tokenomics

Role of ETHFI Tokens within the Platform

Like any other DeFi protocol out there that has its own native token, ether.fi is no exception here.

Except that here, there are three tokens that the platform provides.

One of them would be ETHFI, which is basically the governance token that drives the network.

Through ETHFI, community members acquire the option to manage vital elements pertaining to the protocol, influencing weETH’s growth strategy, which is the non-rebasing iteration of eETH.

So, as a governance token for eETH and weETH holders, ETHFI encourages users to positively shape the protocol’s trajectory.

Distribution and Supply

Now onto the tokenomics.

The ETHFI token is currently valued at around $3.40, with a market capitalization of around $395.5 million and a fully diluted valuation of approximately $3.4 billion.

The daily trading volume of the token is about $138.2 million.

As for the supply end of things, the total and maximum supplies are both exactly 1 billion tokens, and its circulating supply is 115.2 million tokens.

How to Buy ETHFI Tokens

Preparations for Purchasing ETHFI

So, you want to get some ETHFI tokens in your hands? Well, there are a couple of things you’ll have to do.

For one, you need to get a wallet that can store your funds, and since the protocol is based on Ethereum, the MetaMask wallet is your most popular choice for storing your funds.

For that, you can just head over to the wallet’s official website and then install it from there.

Still, since this is the cryptocurrency sector we’re talking about, you might want to get a hardware wallet too, as the number of threats lurking online that could result in a loss of funds is innumerable.

With hardware wallets, you can store all of your funds offline, where they’ll be safe from any online threats. Or, you can even use your MetaMask and hardware wallets interchangeably, which many already do.

Purchasing ETHFI on Exchanges

Once you’ve set up your wallet, you can move on to actually buying the tokens, which you can do from the exchanges that support them.

Depending on what you’ve selected, your process will vary.

For example, if you select something like Uniswap, the process will be instant.

All you’ll need to do is connect your wallet, and you’re set.

But if you pick something like Binance and Bybit, that same process may take longer depending on where you live.

You may need to complete KYC, register for your account, deposit some funds on the exchange and whatnot.

Integrating ether.fi into the DeFi Ecosystem

So far, ether.fi has managed to partner up with a slew of protocols or networks, integrating them into its node infrastructure.

These include the likes of NodeRun, dappnode, Finoa, Cosmostation, and more.

Other than that, though, there are Mode and Ondo Finance that pop up when looking into the kind of networks that it has partnered with.

Future Prospects of ether.fi (ETHFI)

As far as roadmaps are concerned, ether.fi does have one, easily accessible through its website.

A quick glance at it will swiftly reveal that there is still something in store when it comes to features being fully implemented.

For one, it plans to “open source everything,” and since there are quite a few features that will likely be released, chances are, that will be an ongoing process.

Other than that, there’s permissionless solo staking, DAO governance and TGE, and contract ossification.

Although a lot of these features are supposed to have been released already, the fact that they haven’t updated their status to “completed” could mean that they either haven’t updated the site or that these features haven’t undergone a complete release.

Conclusion: The Impact of ether.fi on the Crypto Market

As the sector continues to move forward, the continued expansion and development of ether.fi’s potential will likely attract many to it, provided the platform has something of value.

Still, it could set some new staking standards within the Ethereum ecosystem, and it’s there that its impact will be really felt.

We Coin-Labs.com provides only objective information about ether.fi (ETHFI).
Therefore, we are not responsible for the investment decision in ether.fi (ETHFI) and the resulting loss.

ether.fi (ETHFI) Basics

Here are some factors that investors should consider before investing in ether.fi (ETHFI).

Cryptocurrency Features	ether.fi (ETHFI) (ETHFI)
Publisher or Developers	Gadze Finance SEZC
Headquarters (Registration Number)
Symbol	ETHFI
Platform
Published Date (CMC Registration)	2024-10-09
Max Supply	1,000,000,000 ETHFI

Reliability Score of ether.fi (ETHFI) in 2024

These are indexes mesuring the investment reliability of ether.fi (ETHFI) conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 6 Exchanges
Number of Available Pairs Worldwide	186 Pairs
Market Cap of the Cryptocurrency	0 USD (Rank #0)

The table above shows the result of investment suitability evaluation for ether.fi (ETHFI).
Check out how we evaluate cryptocurrencies on the crypto rating description page.

ether.fi (ETHFI) Price

Here are the price and recent trading volume of ether.fi (ETHFI). (Data of 2024-10-09 16:34:00)

Price Items	Price and Trading Volume of ether.fi (ETHFI)
ether.fi (ETHFI) Price	1.466 USD
Price Change 24h	2.07%
Price Change 7d	-5.59%
Trading Volume 24h	63,566,275 USD
Trading Volume Change 24h	-15.85%

Cryptocurrency Metadata

You can check the development status and social media information of ether.fi (ETHFI) through the links in the table below.

Metadata Source	URL
🌎 Official Website
📖 White Paper
🛰️ Source Code (GitHub)
🐦 Twitter
🤖 Reddit
🎺 Message Board

Where to Buy ether.fi (ETHFI)

Here are the top ten world crypto exchanges where traders can buy ether.fi (ETHFI) in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Listed	https://www.binance.com/en/trade/ETHFI_USDT
Coinbase	Not listed
Kraken	Not listed
KuCoin	Listed	https://www.kucoin.com/trade/ETHFI-USDT
Bitfinex	Not listed
OKX	Listed	https://www.okx.com/trade-spot/ethfi-usdt
Huobi	Listed	https://www.htx.com/trade/ethfi_usdt
Bitstamp	Not listed
Bybit	Listed	https://www.bybit.com/en/trade/spot/ETHFI/USDT
Gate.io	Listed	https://www.gate.io/trade/ETHFI_USDT

Frequently Asked Questions