ether.fi Protocol Launch

March 4 update – the team has still not announced a launch time, this time remains a placeholder.

Launch of a non-custodial staking protocol on Ethereum.

The launch time for this event has not been announced, only that it is on March 4.

DETAILS

• Mechanics & Features
  • ether.fi is a non-custodial delegated staking protocol with a Liquid Staking Derivative (LSD) token; aETH
  • Stakers control their keys, not the node operators
  • For the first phase of launch, users will be able to stake in 32 ETH increments to be assigned a validator node from a list of trusted node operator partners
  • Later phases will enable users to stake smaller amounts of ETH for partial validators
  • Every validator generated is represented as an NFT — for every 32 ETH staked, a pair of NFTs are minted: one T-NFT, one B-NFT
    • T-NFT (transferrable NFT) – represents a 30 ETH stake in the validator and offers holders an interest in the validator’s net rewards
    • B-NFT (bonded NFT) – represents the remaining 2 ETH stake and holds the validator key — the 2 ETH serves as a deductible in the event of missed validation duties or slashing – holders monitor and exit the validator upon poor performance
  • The staker can burn the NFTs to recover their ETH net of fees
  • eETH is the LSD token, minted by depositing ETH or T-NFTs
  • eETH can be staked to earn a share of staking rewards accrued to the pool of validators
  • eETH can be swapped back for ETH via the liquidity pool on a 1:1 basis
  • There are 3 roles in the protocol;
    • bond holders – manage keys and monitoring node performance and earn 50% boosted staking rewards
    • stakers – stake aETH and earn staking rewards
    • node operator – run Ethereum validators on behalf of stakers in exchange for a share of the staking rewards
  • Stakers and node operators can enroll nodes to provide infrastructure services in the node services marketplace