EtherFi is a Liquid Staking Provider on Ethereum. It provides decentralized staking, ensuring users control their keys securely. It's the only liquid staking protocol where users maintain key control, stake/unstake anytime, and earn rewards.ย
๐ Benefits Staking In EtherFi ย :ย
EtherFi offers a unique feature called "liquid staking" through their eETH token. This lets you stake your Ethereum (ETH) and get a tradable token (eETH) in return. This eETH represents your staked ETH plus any rewards you've earned.
By staking with EtherFi, you can potentially earn four types of rewards: Ethereum staking rewards, EtherFi loyalty points, restaking rewards, and the ability to earn DeFi yields.
โก How EtherFi Non-Custodial Solution Works :ย
ether.fiโs noncustodial solution enables stakeholders to retain complete control of their assets, per the protocol-enforced delegated staking service. More specifically, here are the condensed steps behind ether.fi
๐นNode operators register their public keys to be used by stakers to encrypt their validator keys, and bid to operate validator nodes.
๐ธValidator stakers deposit 32 ETH and nominate the winning node operator with the highest bid, and then submit their encrypted validator key to be shared with the corresponding node operator.
๐นNode operators accept their winning bids, triggering the deposit of 32 ETH into the Ethereum Deposit Contract.
๐ธHolders of the {B, T}-NFTs (transferable/bond, respectively) skim their rewards. Holders of the T-NFTs send exit requests to corresponding holders of B-NFTs.
๐นUser stakers (in eETH) can stake their ETH (<32) and receive ether.fiโs liquid staking derivative token, eETH
๐ธAll participants can trade their ether.fi related assets in the ether.fi liquidity pool.
โด๏ธ On-chain Metrics :ย
๐ฅ ETHFI On Binance Launchpool :
๐ธToken Name: ether.fi (ETHFI)
๐นMax Token Supply: 1,000,000,000 ETHFIย
๐ธLaunchpool Token Rewards: 20,000,000 ETHFI (2% of max token supply)
๐นInitial Circulating Supply: 115,200,000 ETHFI (11.52% of max token supply)
๐ธSmart Contract Details: Ethereum
๐นStaking Terms: KYC required
๐ธHourly Hard Cap per User:ย
โข 16,666.66 ETHFI in BNB pool
โข 4,166.66 ETHFI in FDUSD pool
๐๐โ๐โ๐๐ธโ๐ โ๐๐๐ผ ๐ฝโ๐๐ ๐น๐โ๐ธโโ๐ผ: Binance will be the first platform to list the token mentioned herein, with trading starting at 2024-03-18 12:00 (UTC). Any claims to offer this token for sale before the stated timeline are false advertising. Please do your own research to ensure safety of your funds.
๐ธ How To Join Binance Launchpool?ย
Binance Launchpool allows users to acquire new token rewards by staking BNB, FDUSD, and other tokens on the platform.
1. Log in to your Binance account and click the navigation button - [Launchpad].
2. Then, scroll down to find [Launchpool] and the list of available and completed projects.
3. You can also access Launchpool by clicking[Finance] - [Binance Earn].
4. Scroll down and click [View More] under [Launchpool].
๐ธHow to participate in a new project?
1. Letโs take Flamingo (FLM) as an example. On the Launchpool page, you can see the available staking options for farming FLM. For example, [Flamingo BNB] means that you can stake BNB to farm FLM. Click [Stake Now] to participate.
2. Here you can see the project reward information and the estimated annual percentage yield (APY).
3. [My Funds] shows your staked assets. [Available] shows the available balance for staking in your Spot Wallet. If you do not hold any BNB, you can click [Buy BNB].
You can then click [Stake] to stake BNB to farm FLM. Your assets can be redeemed any time by clicking [Redeem]. To view your staking records, click [Staking History].
4. [My Rewards] shows your unclaimed earned rewards, which are updated every hour. You can click [Claim Rewards] to claim the earned tokens to your Spot Wallet any time you wish. To view the claimed rewards or distribution history, click [Claim History].
๐ฅ Project Official Links :ย
๐ธWebsite: https://www.ether.fi/
๐นWhitepaper: https://etherfi.gitbook.io/etherfi/ether.fi-whitepaper
๐ธX: https://twitter.com/ether_fi
๐นDiscord: https://discord.com/invite/zqGzcuQWvD
๐ธTelegram: https://t.me/+C3fpSjmPqzA5NTVh
๐นMedium: https://medium.com/etherfi
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The Joining Process is the Actual offical post from Binance, the article is represented here just for information purposes. Names are taken only for information not for any investment purposesย
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