Binance officially announced the 49th project  on Binance Launchpool - ether.fi (ETHFI) , a decentralized, non-custodial delegated staking protocol. The website is estimated to be available for 24 hours, before the Launchpool begins.

Users will be able to stake their BNB and FDUSD into separate pools to farm ETHFI tokens for  four days , with farming starting from 2024-03-14 00:00 (UTC).

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What is Etherfi?

Overview of Etherfi

Etherfi is a Defi protocol founded by Mike Silagadze and launched in 2023 that allows users to stake assets to provide liquidity built on Ethereum and other blockchains. Where users staking assets themselves retain control of their private keys within the protocol.

In addition, Etherfi also offers services that allow users to create a Node service marketplace, where stakers and register Nodes running infrastructure serve to receive block rewards.

Etherfi's mechanism of action

Ether's operating mechanism includes the following products:

  • Delegated staking: Allows users to deposit a specific amount of ETH into the Etherfi protocol, which once deposited creates a secure withdrawal safe and two NFTs (T-NFT, B-NFT) conferring ownership of the safe iron withdrawal. T-NFT represents a specific and transferable amount of ETH. B-NFT is used to provide a deductible for abatement insurance and offers a higher yield than T-NFT due to the additional risk involved in the insurance deductible process.

  • Liquidity Pool and eETH: Users who stake an amount of ETH less than a protocol-specific amount, or stakers who do not want to be responsible for monitoring validator nodes, can participate in Ether staking .fi by minting eETH in an NFT liquidity pool.

  • Node Services: Users can register to run nodes on the protocol with products implemented through a centralized service run by Ether.fi

The Etherfi Difference

The difference of Etherfi includes the following factors:

  • Etherfi is a decentralized staking protocol with no custody of user assets, while other related protocol service parties are allowed to retain complete control of user assets.

  • Etherfi's protocol provides secure and seamless delegated staking while delivering higher returns and less costs through innovative revenue streams and friendlier active optimization with users.

Etherfi development roadmap

Phase 1: Delegated staking

  • Released ether.fi Desktop application

  • Staking authorization through an auction mechanism

  • Withdraw staking rewards and unstaking ETH

  • Ether.fi Transferable NFTs ( T-NFTs ) and Bond NFTs ( B-NFTs )

  • ether.fi protocol treasury contract

Phase 2: Liquidity Pool and eETH

  • Oracle integration for authentication node information

  • Ether.fi Liquidity Staking Derivatives (LSD) Token, eETH

  • ether.fi liquidity pool to enable trading of {ETH, eETH, T-NFT}

  • ether.fi protocol fund management contract

Phase 3: Node Services

  • Released ether.fi node client

  • Integrates Distributed Validator technology

  • ether.fi infrastructure service

  • ether.fi infrastructure service payment contract

Ecosystem partner

Tới thời điểm hiện tại, ether.fi đã hợp tác với khá nhiều dự án nổi bật trên thị trường, ví dụ như: Maverick, Gravita, Pendle…

Team, Investors and Project Partners


Đội ngũ dự án ether.fi bao gồm nhiều chuyên gia trong lĩnh vực công nghệ, nổi bật là:

Mike Silagadze: Founder and CEO, previously he also held the position of Founder and CEO at Top Hat.Bsc from the University of Waterloo.

Chuck Morris: Vice President and Project Engineering. He has been entering the market and developing the technical team in crypto since 2018.

Rok Kopp: Customer Director, has more than 10 years of experience in the field of Sales & Marketing.

Investors

To date (March 7, 2024), ether.fi has completed two rounds of funding with a total amount of 32.3 million USD, including:

February 28, 2023: Raised $5.3 million led by Chapter One and North Island Ventures, with participation from other investors such as Arrington XRP Capital, Maelstrom, Version One, Node Capital, Purpose Investments .

February 28, 2024 - Series A round: Raised $27 million led by CoinFund and Bullish, with participation from other investors such as ConsenSys, Arrington XRP Capital…

Betting terms:

KYC required

Hourly hard limit per user:

16,666.66 ETHFI in BNB pool

4,166.66 ETHFI in FDUSD pool

ETHFI launch team details:

  • Token name: ether.fi (ETHFI)

  • Maximum Token Supply: 1,000,000,000 ETHFI

  • Launchpool Token Reward: 20,000,000 ETHFI (2% of maximum token supply)

  • Initial Circulating Supply: 115,200,000 ETHFI (11.52% of maximum token supply)

  • Smart contract details: Ethereum

  • Staking terms: KYC required

  • Hourly hard limit per user:

    • 16,666.66 ETHFI in BNB pool

    • 4,166.66 ETHFI in FDUSD pool

Supported pools:

  • Stake BNB (site will be available in about 24 hours): reward 16,000,000 ETHFI (80%)

  • FDUSD Staking (website will be available in about 24 hours): 4,000,000 ETHFI (20%) reward

  • Farming period: 2024-03-14 00:00 (UTC) to 2024-03-17 23:59 (UTC).




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