ether.fi Early Adopter Programme Migration to ether.fan Product Walkthrough
Two weeks ago we announced ether.fan, our gamified ETH staking product.
The basic idea is to allow people to mint a fun #provablyrare NFT that they can use to show their commitment to Ethereum decentralization, and to create a membership loyalty program that rewards users for staking longer.
We ran a vote for EAP participants to chose the NFT character they want use to use and had thousands of responses, with the winner being the wizard!
In this post we’ll briefly go over the EAP migration UI that will be launched in the next few weeks. User testing sessions with the product are starting tomorrow and feedback from those sessions will be used to improve the flow.
Step 1: Find out your membership tier
The first thing that users will see is the membership tier that they will receive if they migrate their ETH deposit from the EAP to ether.fan.
There are 4 membership tiers: Bronze, Silver, Gold and Platinum. The higher the tier the larger the share of protocol revenue that the user will receive. All EAP participants will be bumped at least to the Silver tier. Users who staked longest will be bumped up to Platinum.
Step 2: Begin migration
Next the user will initiate their migration by withdrawing their ETH from the EAP. The snapshot will have already taken place so the points earned from the EAP will have been recorded. Users will have a month to migrate their deposit and get the benefit of their EAP points.
Step 3: Sign declaration of non-US status
Unfortunately ether.fan is not available to people who are based in the US. Sad.
Users will need to sign a declaration stating that they are not US persons. The app is also geofenced. Also there are snipers and ninjas around the perimeter.
Step 4: Deposit ETH and mint your #provablyrare fan
The last step is to deposit your ETH and mint your super rare fan!
The first series will only have 1,000 wizards. Over time this number will actually decrease as some users burn their wizard to unstake their ETH. These will always be the oldest staked ETH NFTs and will receive unique benefits, and will carry a special place in our hearts for being the first.
We’ll announce the mint contract address and block number when minting will be enabled next week.
Your fan NFT will continue to accrue ETH staking rewards and a share of protocol revenue, you don’t need to do anything special it just happens automagically. All ETH staked will go to Operation Solo-Staker to help get more Ethereum nodes in the hands of solo operators in diverse geographic regions.
Eventually fan NFTs will play a role in ether.fi governance, being able to make proposals and vote on them. Additional benefits (such as access to exclusive events) will be announced over time. Think of the fan NFT as your membership card in a super n̶e̶r̶d̶ cool ETH staking club.
Happy staking!
