Ether.fi is a platform designed to make staking on the Ethereum network more accessible and decentralized.
What is ether.fi
Here's how it works:
- Decentralization Focus: Ether.fi aims to distribute Ethereum validators more evenly around the world. Right now, many are in the US, which could centralize the network. By getting stakers and node operators from various places, ether.fi wants to make Ethereum more secure and stable.
- Three-Phase Approach:
- Delegated Staking: People can stake their Ethereum (in 32 ETH multiples) on ether.fi. The platform uses an auction for node operators to become validators, ensuring fairness. Stakers get two NFTs representing their stake for extra security.
- Liquidity Pool and eETH: For those with less than 32 ETH or who don't want to handle nodes, ether.fi offers a liquidity pool. Stakers get eETH tokens, representing their staked Ethereum, but with more flexibility.
- Node Services: This future phase might let stakers use their NFTs for additional network services, benefiting both node operators and stakers.
- Inclusivity: Ether.fi is great for all sizes of stakers, not just those with lots of Ethereum. By giving out eETH tokens, it allows smaller stakers to join in and earn rewards.
- Transparency and Ease: The platform is user-friendly and lets stakers easily monitor their validators and rewards.
- Solving Key Challenges: Ether.fi addresses Ethereum’s centralization risk and makes staking more liquid. With eETH tokens, stakers can keep earning rewards while being able to use their Ethereum when needed.
In summary, ether.fi is all about making Ethereum staking more decentralized, inclusive, and flexible, helping to strengthen the overall Ethereum network.
Team of ether.fi
Seongyun Ko
Senior Software Developer
He is a former research scientist at Meta, specializing in algorithmic trading strategies for cryptocurrencies. Leveraging on-chain and off-chain data, he develops profitable trading approaches. He also possesses expertise in scalable distributed analytics systems and advanced database internals.
Funding of ether.fi
$27,000,000
Series A
Led by CoinFund and Bullish. Other investors include: ConsenSys, CoinFund, Arrington XRP Capital, OKX Ventures, Sandeep Nailwal, Stani Kulechov, Amber Group, Draper Dragon, Chapter One, Foresight Ventures, Parallel Finance, Bullish, North Island Ventures, Version One, Node Capital, Fourth Revolution Capital, Collider Ventures, Bankless, Selini Capital, Lvna Capital, White Star Capital, Punk Ventures, Mr. Block, DeFi Dad, Will Price.
$5,300,000
Seed
Led by Arrington Capital, Version One Ventures, Purpose Investments, Chapter One Ventures, Node Capital, Maelstrom, North Island Ventures
ether.fi review
Pros
Staking Flexibility
Provides options for both large and small ETH holders. Larger holders can stake directly, while smaller holders can join pools or delegate, using eETH for liquidity.
eETH for Small Holders
Enables those with less than 32 ETH to stake and earn rewards through eETH, without the need to manage nodes.
Node Services Layer
Proposes a layer where NFTs can offer services, incentivizing both node operators and stakers.
Monitoring and Alerts
Offers an easy way to track validator performance with timely notifications.
Cons
Smart Contract Risk
Using Ethereum's smart contracts carries inherent risks due to possible vulnerabilities.
Key Management
While secure, the system isn't immune to user errors in key management.
Third-Party Reliance
Stakers depending on node operators can face risks related to their reliability.
Regulatory Changes
The platform may be affected by unpredictable governmental regulations and policies.
Opportunities
AirdropMainnet
Minimal cost: ~20 USD
Ether fi
Participate now to be an Early Adopter and eligible to mint the free NFT