Ether.fi
Staking · Liquid Restaking · weETH
Ether.fi is a decentralized, non-custodial liquid restaking protocol; users stake ETH for eETH (wrapped as weETH) which restakes via EigenLayer to earn staking plus restaking rewards.
Leading non-custodial liquid restaking.
Total staked
—
Latest data · 15 min delay
Research
Components, facts, FAQ, timeline, and tokenomics in one place
Main components (6)
eETH (liquid staking/restaking token)
The core rebasing liquid restaking token. Users deposit ETH and receive eETH, which accrues Ethereum staking rewards plus EigenLayer restaking rewards; balances rebase automatically as rewards accumulate.
weETH (wrapped eETH)
A non-rebasing, wrapped version of eETH built for DeFi composability. It maintains the same underlying yield exposure while keeping a constant balance, making it usable as collateral and in liquidity pools across DeFi.
EigenLayer restaking integration
Staked ETH is natively restaked through EigenLayer, allowing Ether.fi validators/positions to secure additional services (AVSs) and earn restaking rewards on top of base staking yield.
Liquid Vaults
Automated, curated DeFi strategy vaults (e.g. Liquid ETH Yield, Liquid USD, Liquid BTC Yield) that deploy deposits across yield opportunities and issue a liquid receipt token.
Ether.fi Cash
A DeFi-native Visa payment card that lets users spend against their Ether.fi crypto balance, with cashback rewards and Visa network benefits.
ETHFI governance token
The protocol's governance token (max supply 1,000,000,000, no further issuance). Holders vote on grants, protocol upgrades, node-operator permissions, treasury diversification, and economic parameters such as protocol fees.
Differentiator
Largest liquid restaking protocol; users keep control of their validator keys, plus a Cash/DeFi product suite on top of weETH.
Organizational structure
Units & roles
- CEO & Co-founder
Mike Silagadze
Co-founder and chief executive of Ether.fi; quoted in the February 2024 Series A announcement on the protocol's growth and expansion.
- Co-founder & Chief Growth Officer
Rok Kopp
Co-founder of Ether.fi leading growth.
Investment rounds
Similarity to traditional finance products
How Ether.fi maps onto established TradFi structures, and where it diverges.
| TradFi product | Similarity to Ether.fi | Key differences |
|---|---|---|
| Yield-bearing/interest-bearing deposit account | Like a savings or money-market account, users deposit an asset (ETH) and earn ongoing yield while retaining a claim on the principal. | Ether.fi is non-custodial and on-chain: the receipt token (eETH/weETH) is freely transferable and usable across DeFi, yield derives from validator and restaking rewards rather than a bank's balance sheet, and there is no deposit insurance; returns and principal are subject to smart-contract, slashing and market risk. |
| Cashback rewards credit/debit card | Ether.fi Cash resembles a traditional Visa rewards card, offering cashback on everyday spending via the Visa network. | Spending is settled against the user's on-chain crypto balance rather than a fiat bank account or a traditional credit line, and cashback can be paid in crypto/ETHFI. |