News Report Technology
September 10, 2024

Ether.fi Seeks Community Input On Initiating Season 4 Rewards Starting September 15 In New Proposal

In Brief

Ether.fi published a new proposal, recommending to add Season 4 to enhance community involvement in restaking.

Ether.fi Seeks Community Input On Initiating Season 4 Rewards Starting September 15 In New Proposal

The non-custodial delegated staking protocol, Ether.fi, introduced a new proposal that recommends extending the Ether.fi seasons initiative by adding Season 4. This proposal aims to enhance community involvement in the restaking sector, while also maintaining ongoing support for successful integrations within the Ethereum ecosystem.

Ether.fi suggests beginning the fourth season on September 15th, establishing a pattern where each season lasts four months, commencing immediately after the conclusion of Season 3. Each season will feature distinct rewards, which will be gradually unveiled as the season progresses, creating ongoing anticipation and engagement.

In the forthcoming season, the mechanics will focus around Ether.fi Loyalty Points, which will continue to accumulate at a rate of 10,000 points per ETH per day. These points can be enhanced through multipliers offered by decentralized finance (DeFi) partners. The season’s rewards will include a range of tokens, such as ETHFI, partner token rewards, and the LRT2 governance token rewards.

LRT2 is a new protocol for distributing LRT rewards, comprising two tokens: the LRT2 rewards token, which encompasses all restaking rewards, and the LRT2 governance token that oversees the whitelisting and parameters of reward tokens.

Each season, up to 2 million ETHFI tokens may be allocated towards seasonal rewards, with the possibility of adjustment or increase for upcoming seasons. The allocation of these rewards will be determined by the Ether.fi Loyalty Points generated throughout the season.

Ether.fi Season 3 Rewards Initiative Boosts Community Engagement

Ether.fi functions as a protocol that allows users to stake ETH and receive eETH, a liquid staking token unique to the platform, designed to support DeFi activities. Earlier this year, Ether.fi raised $27 million in funding from venture capital firms Bullish and CoinFund. According to DeFiLlama data, it is currently the largest Ethereum liquid restaking platform, with nearly $5 billion in total value locked (TVL).

Season 3 of Ether.fi began on July 1st and will run until September 14th, with 25 million tokens allocated for this period. This initiative aims to reward loyal community members and promote sustained engagement with the protocol and its DeFi ecosystem. Rewards are specifically targeted at Ether.fi stakers who demonstrate strong participation and involvement within the community.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Read More
Read more
Huma Finance Announces Launch Of Its RWA Protocol On Solana Mainnet
Business News Report Technology
Huma Finance Announces Launch Of Its RWA Protocol On Solana Mainnet
November 12, 2024
Unichain Releases Withdrawal Guide, Enabling Developers To Access Bridged ETH
News Report Technology
Unichain Releases Withdrawal Guide, Enabling Developers To Access Bridged ETH
November 12, 2024
Civic Unveils Civic Auth, Offering A Gateway To Comprehensive Identity Management
News Report Technology
Civic Unveils Civic Auth, Offering A Gateway To Comprehensive Identity Management
November 12, 2024
Linea To Reward Testnet Voyage Campaign Participants With LXP Airdrop
News Report Technology
Linea To Reward Testnet Voyage Campaign Participants With LXP Airdrop
November 12, 2024