Ether fi Price in India (ETHFI)

Ether.fi is a liquid staking protocol on the Ethereum blockchain that allows users to stake their ETH holdings and maintain control over their keys in a non-custodial framework. The protocol stands out in the DeFi space as it offers a unique approach to ETH staking. To be sure, it allows users to earn rewards and participate in platform governance while having control over their assets.

Ether.fi offers native restaking, which allows staked ETH to be reused for other networks or applications, leading to higher yields over time.

Here are some of the standout features of Ether.fi.

• Liquid staking functionality: Instead of locking up their ETH for long periods, stakers receive liquid tokens called eETH to represent their locked ETH. These tokens can be traded or used in other dApps within the Ethereum ecosystem.

• NFTs for validators: Ether.fi also allows the creation of a unique NFT for validators involved in the staking process. This enhances the security and independence of the participants in the protocol. 

• Integration with EigenLayer: With the integration of EigenLayer, users can earn additional yield on top of Ethereum’s staking rewards without locking assets, providing flexibility in restaking.

• Native Token (eETH): The platform’s native token, eETH, works with Ether.fi’s governance token to let users easily manage staking and restaking. This offers automatic restaking and dual rewards from Ether.fi and EigenLayer.

Ether.fi (ETHFI) is currently positioned among the top 150 cryptos by market capitalization, as of June 2024. In terms of daily trading volume, it ranks among the top 84 cryptos, showing higher trader involvement. Ether.fi’s strong influence in the DeFi space and the broader crypto space coupled with its innovative approach to staking ETH positions Ether.fi as a promising crypto. 

ETHFI offers several utilities to users including: 

• The ETHFI token is used for platform governance by enabling token holders to participate in decision-making processes and other major developments in the protocol. 

• Users can stake their ETH and receive a liquid staking token called eETH, which can be used for yield farming.

• Ether.fi with the integration of EigenLayer offers native restaking to offer additional rewards for stakers.

• wETH holders can redeem eETH for ETH with no withdrawal hassle.

• Dual returns from staking with the integration of EigenLayer.

• Allows liquidity of assets through eETH tokens.

• Token holders can participate in governance and contribute to protocol maintenance, earning rewards in the process.

• Like any other crypto, ETHFI is prone to market risk and fluctuations. 

• It is focused on the DeFi sector which would be unappealing to new crypto investors. 

• Being built on Ethereum, Ether.fi is tied to the Ethereum network. So, any issues with the Ethereum network such as high transaction fees and congestion impact Ether.fi.

• Start trading in ETHFI by downloading the CoinSwitch app and signing up for an account.

• You can buy ETHFI for as low as ₹100.

• CoinSwitch’s user-friendly interface and easy-to-use mechanism offer an ideal platform to start trading in ETHFI.

Ether.fi was founded by Mike Silagadze and Rok Kopp in 2022. However, its mainnet was launched in May 2023, while its native token, ETHFI, was launched in March 2024. Ether.fi held private token sales involving top-tier funds like Arrington XRP Capital, ConsenSys, CoinFund, and 24 other investors. In 2024, the protocol announced its first public sale round with an IEO on Binance, allocating over 2% for the Binance Launchpool event. Besides, Ether.fi recently raised $23 million in Series A funding, bringing its total funding to $27M.