In the context of an uptrend market anticipating the approaching BTC Halving, Etherfi has emerged as a bright project on the Ethereum network. Etherfi allows users to stake ETH or liquid staking tokens easily and efficiently, opening the door to attractive rewards.

Don't miss the opportunity to invest effectively when joining the 49th launchpool project on Binance Launchpool to farm $ETHFI by staking $BNB and $FDUSD in just 1 simple step. With a total Launchpool token reward of up to 20,000,000 ETHFI, this is a great opportunity to own tokens of this potential project.

Let's learn more about Etherfi, the project's tokenomics, its development team, and its investors and partners in this article.

What is Etherfi?

Etherfi is a liquid staking protocol on the Ethereum network, allowing users to stake ETH or liquid staking tokens (such as stETH, cbETH, wBETH) to receive eETH tokens at a 1:1 ratio. Not only that, Etherfi also provides node services to help simplify the process and costs of running a node on the Ethereum network.

When users stake tokens on Etherfi, those tokens will be used to retake on EigenLayer, the largest restaking protocol at the moment. Thanks to that, users will receive rewards including:

  • APR from staking and retake

  • ether.fi point

  • EigenLayer point

With a friendly and easy-to-use interface, Etherfi helps users maximize profits from staking easily and effectively.

  • 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

Etherfi's mechanism of action

Etherfi is a staking protocol that allows users to increase profits from their ETH staking. Etherfi's mechanism of action is as follows:

A. Stake ETH or liquid staking tokens to receive eETH

  • Users deposit ETH into Etherfi to create a withdrawal safe and two NFTs (T-NFT and B-NFT).

  • T-NFT represents a specific and transferable amount of ETH.

  • B-NFT represents withdrawal rights and can be sold on the secondary market.

  • Users can also stake other liquid staking tokens, such as stETH, to receive eETH.

B. Restate eETH on EigenLayer

  • eETH is a liquid staking token that represents staked ETH.

  • Users can retake eETH on EigenLayer to earn additional rewards.

  • EigenLayer is a protocol that allows users to participate in the Ethereum network validation process without running a full node.

C. Get rewards:

  • APR from staking and retaking: Users receive APR rewards from both staking ETH and retaking eETH.

  • Ether.fi Points: Users receive ether.fi points when staking ETH or eETH. These points can be used to reduce transaction fees on Etherfi.

  • EigenLayer Points: Users receive EigenLayer points when retaking eETH on EigenLayer. This score can be used to participate in EigenLayer governance.

Etherfi's highlight

Etherfi differentiates itself from other staking protocols in the following ways:

  • Decentralized and non-custodial: Etherfi is a decentralized protocol, meaning it is not controlled by any one entity. Users retain control of their own private keys and their assets are not custodial by the protocol.

  • Secure and seamless delegated staking service: Etherfi provides a secure and seamless delegated staking service. Users can stake their ETH without having to run a full node or directly interact with a smart contract.

  • Higher returns and less costs: Etherfi offers higher returns and less costs compared to other staking protocols. This is achieved through innovative revenue streams and aggressive operational optimization.

  • User-Friendly: Etherfi is designed to be user-friendly. The interface is simple and easy to use, even for those new to cryptocurrency.

Thanks to these differences, Etherfi is an attractive option for those looking to stake their ETH safely, easily, and profitably.

Etherfi (ETHFI): 49th project on Binance Launchpool

Binance Launchpool is a platform that allows users to stake BNB to receive new tokens listed on Binance. The 49th project on Binance Launchpool is Etherfi (ETHFI).

ETHFI farming time:

  • Start: 7:00 a.m. March 14, 2024 (Vietnam Time)

  • End: 6:59' March 18, 2024 (Vietnam Time)

ETHFI listing time:

7:00 p.m. March 18, 2024 (Vietnam Time)

Trading pairs:

  • ETHFI/BTC

  • ETHFI/USDT

  • ETHFI/BNB

  • ETHFI/FDUSD

  • ETHFI/TRY

Instructions for participating in ETHFI farming on Binance Launchpool:

  • Visit Binance Launchpool: https://launchpad.binance.com/en/launchpool

  • Log in to your Binance account.

  • Select the Etherfi project (ETHFI).

  • Click the "Stake" button.

  • Enter the amount of BNB you want to stake.

  • Click the "Confirm" button.

Users will receive ETHFI tokens as rewards based on the amount of BNB staked and the staking time. Part
ETHFI rewards will be distributed once the project is listed on Binance.

Note:

  • Users need to have BNB in ​​their Binance account to participate in farming.

  • ETHFI rewards will be distributed in percentage based on the amount of BNB staked.

  • Users can withdraw staked BNB at any time. However, ETHFI rewards will be forfeited if BNB is withdrawn before the farming period ends.

Details about ETHFI:

  • Token name: ether.fi (ETHFI)

  • Maximum total token supply: 1,000,000,000 ETHFI

  • Launchpool token reward: 20,000,000 ETHFI (2% of maximum token supply)

  • Total initial circulating supply: 115,200,000 ETHFI (11.52% of maximum token supply)

  • Smart contract details: Ethereum

  • Deposit terms: KYC required

Hourly hard limit per user:

  • 16,666.66 ETHFI in BNB pool

  • 4,166.66 ETHFI in FDUSD pool

Etherfi is a decentralized staking protocol that allows users to stake their ETH securely, easily, and profitably. With the listing on Binance Launchpool, Binance users will have the opportunity to receive ETHFI tokens before it is listed on the official exchange.

Etherfi's development roadmap

Etherfi has a three-phase development roadmap:

Stage 1: Authorized betting

  • Released ether.fi Desktop application

  • Staking authorization through an auction mechanism

  • Withdraw staking rewards and unstaking ETH

  • Ether.fi Transferable NFTs (T-NFTs) and Bond NFTs (B-NFTs)

  • ether.fi protocol treasury contract

Phase 2: Liquidity pool and eETH

  • Oracle integration for authentication node information

  • Ether.fi Liquidity Staking Derivative Token (LSD), eETH

  • ether.fi liquidity pool to enable trading of {ETH, eETH, T-NFT}

  • ether.fi protocol fund management contract

Phase 3: Node service

  • Released ether.fi node client

  • Integrates Distributed Validator technology

  • ether.fi infrastructure service

  • ether.fi infrastructure service payment contract

Etherfi is actively developing this roadmap and is expected to launch new features in the near future.

Etherfi has been audited by leading auditing firms

Etherfi has been audited by some of the industry's leading audit firms, including:

  • Certik

  • Omniscia

  • Nethermind

  • Solidified

These audits verify the security and reliability of Etherfi's smart contracts and protocols. Auditing firms reviewed Etherfi's source code, security measures and operational processes to ensure that they meet the highest standards.

The fact that Etherfi is audited by leading auditing firms is a testament to the project's commitment to security and transparency. These audits provide users with peace of mind that their funds are safe and that the protocol is working as expected.

Etherfi's development team and investors

Development team

Etherfi's development team includes 7 core members with many years of experience in the field of cryptocurrency and blockchain technology. This team includes:

  • Mike Silagadze: Founder and CEO

  • Rok Kopp: Chief Customer Officer

  • Chuck Morris: Vice President, Engineering

  • Seongyun Ko: Senior software developer

Investors

Etherfi has raised $10 million in a seed round led by ConsenSys. Other investors participating in the seed round include Arrington XRP Capital, OKX Ventures, Chapter One, North Island Ventures and IOSG Ventures.

The backing of leading industry investors is a testament to Etherfi's potential. An experienced development team and reputable investors show that Etherfi is a project worth watching in the crypto staking space.

The end

With its decentralized, secure, and easy-to-use protocol, Etherfi empowers users to take control of their assets and maximize their profits.

Whether you're new to the cryptocurrency space or a seasoned investor, Etherfi has something for you. Stake your assets with Etherfi today and enjoy peace of mind knowing that your money is safe and working for you.

Join the growing Etherfi community and become part of the cryptocurrency revolution. Don't miss the potential profit opportunity when joining Etherfi's Launchpool on Binance


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