Binance, the largest crypto exchange in the world, introduced ether.fi (ETHFI) as the 49th Launchpool project.
So, before going deep and diving, let us understand what ether.fi (ETHFI) is?
Ether.fi stands out as a decentralized and non-custodial delegated staking protocol, offering a unique Liquid Staking token system. One key feature setting ether.fi apart is its emphasis on stakers retaining control over their keys. Additionally, the platform introduces a node services marketplace, enabling stakers and node operators to engage in node enrollment for infrastructure service provision.
Ether.fi Ensuring decentralization remains our utmost priority. The protocol is designed to be non-custodial and decentralized, with stakers retaining full control over their ETH assets.
At ether.fi, they are building a sustainable business model for the long term. Their vision extends beyond short-term gains, focusing on decades of growth and development without any Ponzi schemes or unethical practices.
Their commitment to the Ethereum community is unwavering. Transparency and accountability are paramount, and they pledge to rectify any mistakes promptly, always acting in the community's best interests.
In my opinion Ether.fi appears to be an interesting project introduced as the 49th Launchpool project on Binance, the world's largest crypto exchange. It is described as a decentralized and non-custodial delegated staking protocol with a unique Liquid Staking token system. One notable feature is its emphasis on stakers retaining control over their keys, which enhances decentralization. Additionally, the platform introduces a node services marketplace, enabling stakers and node operators to engage in node enrollment for infrastructure service provision.
The project emphasizes decentralization, sustainability, and community commitment. It aims to build a long-term business model without resorting to short-term gains or unethical practices. Transparency and accountability are central to their approach, with a commitment to rectify any mistakes promptly.
Overall, ether.fi seems to be positioned as a promising project within the decentralized finance (DeFi) space, with a focus on providing value to the Ethereum community and beyond. However, as with any investment or project, thorough research and due diligence are essential before making any decisions.
Binance Launchpool details and price prediction:
Here are the Launchpool details for ether.fi (ETHFI):
- 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)
- Staking Terms: KYC required
- Hourly Hard Cap per User:
16,666.66 ETHFI in BNB pool
4,166.66 ETHFI in FDUSD poolpool
These details provide insights into the tokenomics and launchpool parameters for ether.fi, offering transparency and clarity for potential participants.
Our Price Prediction:
If we look at the previous launchpool projects:
~ Aevo was launched with a market cap of $330M.
~ Portal Token was launched with a market cap of $356M.
~ Pixel was launched with a market cap $400M.
~ Altlayer was launched with a market cap $560M.
~ Xai was launched with a market cap $420M
The initial circulating supply of ether.fi is 115,200,000 ETHFI (11.52% of max token supply), So we are assuming it should be launched between $350 million to $400 Million. If it happens, then the price of $ETHFI will be around $3 - $3.4.
Usecases of Ether.fi
The first and most important usecase of Ether.fi is you can stake your ETH to earn yield. You can even start with a very low amount of ETH.
Letâs understand more about ETH Staking:
In the Proof of Stake mechanism of Ethereum, validators play a pivotal role in upholding the network's integrity and functionality. Here's a breakdown of their responsibilities:
1. Stake Holding: Validators hold 32ETH (the Stake) at a single Beacon Chain address. This ETH serves as collateral on the Execution Layer, incentivizing honest behavior.
2. Block Proposal: Validators propose new blocks to be added to the chain. The opportunity to propose blocks is determined through a randomized process.
3. Block Verification: Validators verify blocks proposed by others through a process called "attesting". They ensure the validity of transactions and adherence to network rules.
4. Voting: Validators participate in a voting process to achieve consensus on block validity. If a significant majority agrees on a block, it gets added to the chain.
5. Rewards: Validators receive rewards for their services, including transaction fees and block rewards. These rewards compensate for the risk and effort involved.
6. MEV Rewards: Validators can maximize rewards by optimizing block content to extract maximal extractable value (MEV). This involves reordering or modifying transactions within a block to increase rewards.
7. Penalties (Slashing): Validators face penalties, known as slashing, for malicious behavior or attempting to manipulate the network. This may result in the loss of a portion or all of their staked ETH.
Ether.fi implements an innovative approach to staking through the integration of Distributed Validator Technology (DVT), aimed at enhancing the security and operations of validators within the Ethereum network. This technology facilitates the onboarding of solo stakers, empowering them to run nodes from diverse locations worldwide. The primary objective is to foster the decentralization of the Ethereum network by increasing the number of node operators globally and reducing reliance on centralized data centers.
Traditionally, the significant capital requirement to run a solo node, equivalent to 32 ETH, has led to increased centralization within the Ethereum network. However, by leveraging DVT, ether.fi has successfully lowered this barrier to entry, making it more accessible to potential node operators. Participants in this program have the option to purchase hardware directly from ether.fi or utilize their existing hardware, provided it meets the protocol's technical requirements.
Prospective solo node operators must meet specific criteria, including prior staking experience, a reliable internet connection, adherence to ether.fi's disclosure requirements, and acceptance of the program's terms of service. Once they have acquired suitable hardware and demonstrated technical proficiency during the testnet phase, these individuals can operate staking infrastructure for ether.fi from their own premises without the need for collateral. This flexibility is a key benefit of DVT, enabling participants to contribute to network security without financial barriers. In exchange for their commitment to running a node, participants are allocated an initial stake of 96 ETH and receive 5% of staking rewards.
Additionally, ether.fi engages a select group of permissioned node operator partners to run validators on behalf of the protocol. These operators, while required to submit bids through the protocol auction mechanism, are not obligated to post collateral bonds. They undergo a thorough vetting process and have established reputations within the industry for their high performance. As compensation for their services, 5% of all rewards generated by the validators they operate are allocated to these node operators.
By embracing Distributed Validator Technology and incorporating both solo and permissioned node operators, ether.fi strives to enhance network decentralization while ensuring the integrity and efficiency of the Ethereum ecosystem.
ETH Re-Staking:
ether.fi's eETH and weETH tokens represent a novel approach to Liquid re-staking, offering users enhanced flexibility and usability compared to conventional methods.
In traditional Liquid ReStaking strategies, users typically lock their Liquid Staking Tokens (LSTs) like stETH into dedicated contracts, facing limitations such as non-transferrability, inaccessibility in DeFi, and lengthy withdrawal periods of up to 7 days. Moreover, additional delays may be incurred when redeeming ETH from LSTs.
However, with ether.fi's eETH and weETH tokens, Native ReStaking occurs at the protocol level, eliminating the need for users to take separate actions or lock up their assets. Holding eETH/weETH allows users to:
1. Earn staking rewards based on the staked ETH amount and the protocol's staking yields.
2. Earn restaking rewards based on natively restaked ETH within the protocol and the protocol's restaking yields (including EigenLayer points).
3. Utilize eETH/weETH in other DeFi protocols, providing opportunities for diverse investment strategies.
4. Redeem ETH from eETH/weETH without the typical 7-day withdrawal period, provided that ether.fi holds sufficient liquid ETH in its contract.
Overall, eETH and weETH tokens offer users a seamless and efficient way to participate in Liquid ReStaking while enjoying greater liquidity and accessibility in the DeFi ecosystem.
Now See the information of $ETHFI Token Contract:
âąÂ Token Name: ether.fi (ETHFI)
âąÂ Max Token Supply: 1,000,000,000 ETHFI
âąÂ Initial Circulating Supply: 115,200,000 ETHFI
âąÂ Smart Contract Details: Ethereum
âąÂ $ETHFI Smart Contract Address: 0xFe0c30065B384F05761f15d0CC899D4F9F9Cc0eB
âąÂ $ETHFI Token Decimal: 18
To take part on Launchpool you need to have some BNB or FDUSD. The farming period of the launchpool is 2024-03-14 00:00 (UTC) to 2024-03-17 23:59(UTC).
Stake BNB to earn ETHFI: https://launchpad.binance.com/en/launchpool/ETHFI_BNB
Stake FDUSD to earn ETHFI: https://launchpad.binance.com/en/launchpool/ETHFI_FDUSD
Enjoy $ETHFI Farming, Best wishes to all Binanciansâ€ïž
