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.
🔅 Benefits Staking In EtherFi :
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.
⚡ How EtherFi Non-Custodial Solution Works :
ether.fi’s 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
🔹Node operators register their public keys to be used by stakers to encrypt their validator keys, and bid to operate validator nodes.
🔸Validator 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.
🔹Node operators accept their winning bids, triggering the deposit of 32 ETH into the Ethereum Deposit Contract.
🔸Holders 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.
🔹User stakers (in eETH) can stake their ETH (<32) and receive ether.fi’s liquid staking derivative token, eETH
🔸All participants can trade their ether.fi related assets in the ether.fi liquidity pool.
✴️ On-chain Metrics :
💥 ETHFI On Binance Launchpool :
🔸Token Name: ether.fi (ETHFI)
🔹Max Token Supply: 1,000,000,000 ETHFI
🔸Launchpool Token Rewards: 20,000,000 ETHFI (2% of max token supply)
🔹Initial Circulating Supply: 115,200,000 ETHFI (11.52% of max token supply)
🔸Smart Contract Details: Ethereum
🔹Staking Terms: KYC required
🔸Hourly Hard Cap per User:
• 16,666.66 ETHFI in BNB pool
• 4,166.66 ETHFI in FDUSD pool
𝕀𝕄ℙ𝕆ℝ𝕋𝔸ℕ𝕋 ℕ𝕆𝕋𝔼 𝔽ℝ𝕆𝕄 𝔹𝕀ℕ𝔸ℕℂ𝔼: 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.
🔸 How To Join Binance Launchpool?
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].
🔸How to participate in a new project?
1. Let’s 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].
🔥 Project Official Links :
🔸Website: https://www.ether.fi/
🔹Whitepaper: https://etherfi.gitbook.io/etherfi/ether.fi-whitepaper
🔸X: https://twitter.com/ether_fi
🔹Discord: https://discord.com/invite/zqGzcuQWvD
🔸Telegram: https://t.me/+C3fpSjmPqzA5NTVh
🔹Medium: https://medium.com/etherfi
🔹🔸🔹🔸🔹🔸🔹🔸🔹🔸🔹🔸🔹🔸🔹🔸
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 purposes
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