The non-custodial liquidity staking protocol Ether.fi (ETHFI) unveiled the initiation of the Perks Passport event, which enables users to take part in different activities and earn up to a 5x boost on Season 3 points. The activities will begin unlocking later this week, with the boosts being applied retroactively from the start of Season 3.
Perks Passport represents a system created to enhance Ether.fi loyalty points based on user engagement in decentralized finance (DeFi) activities and events. It tracks users’ progress and achievements to determine the boost awarded.
Each activity in the Perks Passport system has an associated boost, and individuals have the option to hover over any activity and see how they can earn that boost. Participants from Seasons 1 and 2 already hold their boosts, and those taking part in Season 3 will receive theirs as well. Additionally, individuals will earn an extra 0.5x boost for every 5 Passport Activities completed, up to a maximum of 5x.
Furthermore, points for boosting with each stamp on the Season 3 Perks Passport can be earned, and users are encouraged to follow the announcements from DeFi partners. The Perks Passport can be accessed via the Portfolio page.
Ether.fi Launches Season 3 With 25M ETHFI For Stakers
Season 3 began on July 1st and is prolonged up to the end on September 14th, with 25 million tokens allocated for this season. The Season 3 initiative is crafted to reward committed community members and encourage ongoing involvement with the protocol and its DeFi ecosystem. It began on July 1st and will end on September 14th, with 25 million ETHFI tokens reserved for this season intended for eligible Ether.fi stakers, determined by metrics of community participation and engagement.
Ether.fi represents a protocol that enables individuals to stake ETH and get eETH, a liquid staking token specific to the platform, supporting DeFi activities. Earlier this year, Ether.fi raised $27 million in funding from venture firms Bullish and CoinFund. As per DeFiLlama data, it stands as the largest Ethereum liquid restaking platform, with nearly $3 billion in total value locked (TVL).
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