Since we raised our seed round in March 2023 the major product launch that we’ve been working towards is our Liquid Staking Token (LST) eETH.
After a tremendous amount of hard work by the whole ether.fi team we are excited to announce that we are shipping eETH! The contracts are audited, and the testnet release is live now. The mainnet release is scheduled for November 6th (initially whitelist only, then general release shortly after.)
What makes ether.fi and eETH unique?
- On ether.fi stakers keep control of their keys.
- eETH is the first native liquid restaking token.
Why stake using eETH?
- eETH helps support Ethereum decentralization.
- Early stakers will earn Loyalty Points.
- Earn boosted staking rewards once restaking services are live.
As part of the launch we are planning to focus on integrations with DeFi protocols to ensure that eETH has utility from day one. Partnerships that we’re working on include Balancer, Aura, Gravita, Maverick, Pendle and others (some conditional on governance votes.) These partnerships will allow users to trade eETH and to use it as collateral, among other things.
Stay tuned, lots more to come!
One of our core principles is a focus decentralization as a primary objective. That’s why we built our protocol in a maximally non-custodial way, so that stakers stay safe.
In support of this goal we are also running Operation Solo Staker to help decentralize Ethereum nodes and to lower the barrier to entry for solo node operators. We’ve spent a ton of time and money helping drive this initiative, including pioneering the use of DVT on mainnet Ethereum.
We also recently made a self-limiting commitment, and plan to embed it into our smart contracts so that it can’t be removed - not even with a governance vote.
It is because of this hardcore commitment to decentralization that we are going all-in on restaking. We know that there are risks and unknowns, and we don’t want to minimize these. However we believe that restaking is a mechanism that can sustain the decentralization of Ethereum. It can do this by applying market forces and putting a price premium on decentralization in staking. There’s a lot more that can be said about this (and has been said) but the main point we’re hoping to get across is that we’re doing this for the right reasons.
We hope you’ll join us on our journey as we continue to build and ship products that help make staking easier, safer and fun!
If you want a bit more detail about the announcement please take a look at our press release below: