Etherfi: A Non-Custodial Liquid Staking Protocol
Etherfi is a decentralized, non-custodial liquid staking protocol built on Ethereum. It enables users to stake their ETH without relinquishing control of their private keys.
How Etherfi Works:
Liquid Staking: Users stake their ETH on Etherfi and receive a liquid staking token called eETH in return. This token represents their staked ETH and can be used in various DeFi applications.
Non-Custodial: Etherfi prioritizes user control by allowing users to retain their private keys.
Rest aking: To maximize rewards, Etherfi restakes the staked ETH, allowing users to benefit from additional staking rewards.
eETH Token: The eETH token represents the user's share of the staked ETH and can be used for trading, lending, or as collateral in other DeFi protocols.
Key Features:
Non-custodial: Users retain control over their private keys.
Liquid Staking: Provides liquidity to staked ETH.
Rest aking: Maximizes staking rewards.
eETH Token: Versatile token for DeFi interactions.
Benefits:
Increased Staking Participation: Offers liquidity to staked ETH, attracting more users.
Enhanced Capital Efficiency: Users can leverage staked ETH without selling.
Diversified Income Streams: Earn rewards from staking and eETH utilization.
Risks:
Smart Contract Risks: Vulnerabilities in smart contracts.
Market Volatility: Fluctuations in eETH value.
Impermanent Loss: Potential loss when trading eETH.
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