Ether.fi (ETHFI), launched in March 2024, is a decentralized liquid restaking protocol on Ethereum, enabling users to stake ETH or liquidity tokens and receive eETH, a liquid staking token usable in DeFi for additional yield. It maximizes staking rewards through auto-compounding and restaking integrations like EigenLayer. The native token, ETHFI, powers governance and incentives.

Key Features

  • Liquid Restaking: Users stake ETH to receive eETH, earning staking and restaking rewards while maintaining liquidity for DeFi opportunities.
  • High TVL: Manages ~$8.9B in TVL, with $65M in annual recurring revenue and 5% revenue used for ETHFI buybacks.
  • Multi-Chain Potential: Primarily on Ethereum, with eETH bridged to Base and Arbitrum for broader DeFi integrations.
  • Ecosystem: Trades on 74+ exchanges (e.g., OKX, Binance) and 95+ markets, with wallet support like MetaMask and Coinbase Wallet.

  • ETHFI Token

  • Purpose: Used for governance, staking, and earning rewards within the EtherFi ecosystem, including vault incentives.
  • Supply: ~320M ETHFI in circulation, with a maximum supply of 1B.
  • Contract Address: On Ethereum, ETHFI’s contract is 0xfe0c30065b384f05761f15d0cc899d4f9f9cc0eb (addable to MetaMask) CoinGecko CMC.

Who Are the Founders of ETHFI?

Etherfi was founded by Mike Silagadze, former CEO of Top Hat, with a team from Consensys and OKX Ventures. Backed by Binance Launchpool and OKX Ventures, it raised no formal ICO but distributed ETHFI via airdrops to stakers. Governance is decentralized via ETHFI holders.

What Makes ETHFI Unique?

Etherfi stands out in Web3:

  • eETH Flexibility: Non-custodial eETH allows staking rewards (35% APR) while enabling DeFi yield farming, unlike traditional staking.
  • Restaking Synergy: Integrates with EigenLayer and Morpho Labs for enhanced rewards, offering $KAT and $ETHFI in vaults.
  • No Lockups: Vaults allow withdrawals anytime, unlike some competitors with forced lock periods.

ETHFI Network Upgrades (2025)

  • Katana Vault Launch (Q2 2025): Introduced weETH/WETH vaults with $KAT and $ETHFI rewards, boosting TVL by 10%.
  • Mobile App Release (March 2025): Launched a mobile app for staking and vault management, improving UX and adoption .
  • Arbitrum Bridge (June 2025): Enabled eETH bridging to Arbitrum, enhancing DeFi interoperability and reducing fees by 15%.

How Is ETHFI Secured?

Ether. fi and ETHFI are secured through:

  • Ethereum PoS: Leverages Ethereum’s Proof-of-Stake for transaction and contract security.
  • Smart Contract Audits: Regular audits (auditors undisclosed) ensure eETH and vault contract integrity.
  • Non-Custodial Design: Users retain control of eETH assets, reducing counterparty risk.
  • DAO Governance: ETHFI holders vote on protocol upgrades, ensuring decentralized control.

Conclusion

Ether.fi (ETHFI) is a leading liquid restaking protocol, with a 320M circulating supply. Listed on 74+ exchanges, its $8.9B TVL, eETH flexibility, and 2025 upgrades like the Katana vault position it as a DeFi innovator. Strong fundamentals and its restaking narrative and community optimism make Etherfi a compelling Web3 contender.