The non-custodial liquid staking platform, 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.
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