Ether.fi To Introduce Staking Rewards On October 15, Incentivizing weETH And eETH Holders
In Brief
Ether.fi will enable users holding weETH or eETH to earn rewards from staking, restaking, and Season 4–in the form of Ether.fi points.
Non-custodial delegated staking protocol, Ether.fi announced that staking rewards will be available starting October 15th. This will allow users holding weETH or eETH to earn rewards from staking, restaking, and Season 4–in the form of Ether.fi points.
The first distribution of LRT² tokens is scheduled to occur every Thursday, with tokens being allocated in a linear manner. Users holding weETH or eETH will automatically begin accumulating LRT².
LRT² tokens represent a portion of the restaking reward pool earned through LRT protocols. These tokens are fully backed by and can be redeemed for the underlying reward tokens, including EIGEN, which is the native token of EigenLayer, an Ethereum-based restaking protocol.
Ether.fi Expands Incentives Scope With New AVS And Extra ETHFI Rewards
Ether.fi announced that additional actively validated service (AVS) rewards will be introduced over the coming weeks as part of their efforts to provide exclusive benefits and campaigns to the community. These rewards will come through partnerships formed within the AVS ecosystem.
All eETH, whether self-custodied or actively used within a decentralized finance (DeFi) partner protocol, will accumulate restaking yield in the same manner. The rewards will be distributed on a linear basis. Users holding weETH or eETH will automatically accumulate LRT². Furthermore, to mark the launch of LRT², extra ETHFI rewards will be added to the pool for all participating stakers to share.
Users can claim their rewards by visiting their Portfolio page and accessing the LRT² rewards tab. They will also have the option to redeem the underlying tokens, giving them access to EIGEN and other AVS-related tokens.
Meanwhile, Season 4 rewards will be distributed in LRT² tokens at the conclusion of the season. Ether.fi points will also influence the allocation of additional LRT² tokens, including those from partner protocols.
Ether.fi operates as a protocol enabling users to stake ETH and receive eETH, a liquid staking token created to facilitate participation in DeFi activities. Earlier this year, Ether.fi secured $27 million in funding from venture capital firms Bullish and CoinFund. According to data from DeFiLlama, Ether.fi has grown to become the largest Ethereum liquid restaking platform, with more than $5 billion in total value locked (TVL).
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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.
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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.
