ether.fi Staked ETH (eETH)
ether.fi Staked (eETH) is a rebasing ERC-20 token introduced by ether.fi, a non-custodial and decentralized staking protocol. It represents a claim on an equivalent amount of ETH held by the ether.fi liquidity pool or staked in the Ethereum Proof-of-Stake system. A rebasing mechanism automatically distributes staking rewards to eETH holders, updating their balances across all addresses. As a Liquid Restaking Token, eETH allows users to stake their ETH for rewards and reinvest seamlessly in EigenLayer. [1]
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Overview
eETH is an ERC-20 token representing an equivalent amount of ETH in the ether.fi liquidity pool or staked in Ethereum's Proof-of-Stake system. It utilizes a rebasing mechanism to distribute staking rewards to holders across all addresses automatically. As a Liquid Restaking Token, eETH enables users to stake their ETH for rewards and reinvest in EigenLayer. It is the first native liquid restaking token on Ethereum, allowing users to mint eETH on ether.fi to maximize rewards. Minting eETH provides exposure to Ethereum staking rewards, ether.fi Loyalty Points, restaking rewards (including EigenLayer points), and the ability to provide liquidity to DeFi protocols. Staking ETH on ether.fi involves locking a specific amount of Ether in a wallet to contribute to the network's operations, effectively becoming validators. These validators secure and validate transactions, earning additional Ether rewards for their participation. [1][2]
