Ether.Fi's Token Debuts At $4.13 After Airdrop and Binance Launchpad Distribution

$ETHFI

ETHFI, the governance token of the largest liquid restaking protocol Ether.Fi, debuted at $4.13 after the token was distributed via an airdrop and to participants of a Binance Launchpad round.

At the time of writing, ETHFI was trading at $4.10 on Binance and recorded a trading volume of over $2 million in the first five minutes of trading. The token had a fully diluted value (FDV), the market value of a token if the entire supply ends up in circulation, of $4.13 billion.

More than $2 billion worth of the FDUSD stablecoin and 17.3 million BNB ($10 billion) were staked on the Binance Launchpad. Launchpad stakers receive an allocation of ETHFI relative to the amount they staked.

Ether.Fi's total value locked (TVL) has surged 117% in the last 30 days with total deposits approaching $3 billion, according to DefiLlama.

Restaking is a strategy used by those that stake ether {{ETH}} and want to generate additional yield. By using a protocol like Ether.Fi, stakers receive a liquid restaking token (LRT) that can be used elsewhere on other protocols, they also receive loyalty points that can be converted into a token airdrop.

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