- The third stage of the liquid restaking protocol’s effort to give users access to $ETHFI has begun.
After claims went live for its Season 2, Ether.Fi, the largest liquid restaking protocol by total-value locked (TVL), is starting the third part of its airdrop.
In the hours following the airdrop claim becoming live, the token gained 2%, but it later lost those gains and fell 4.6%. After plunging 21% during the previous week, $ETHFI has now dropped 71% from its launch day on March 18 and is currently trading at a fully diluted value (FDV) of $2.2 billion.
Eleven percent of the entire token supply that Ether.fi intends to give users is made up of Seasons 1 and 2. Holders of the ether.fan NFT and eETH or weETH are eligible airdrop participants.
An extra 2.5% of the token supply will be distributed during Season 3, which runs from July 1 to September 14. Perks Passport, which enables stakers to obtain dual benefits through Ether.Fi’s partner protocols, will also be included in the upcoming season.
Ether.Fi is a protocol for liquid restaking in which users stake Ethereum and get natively restaked Ethereum in return. This ethereum can then be utilized in other decentralized finance protocols that are compatible with it (DeFi). Users of liquid staking protocols gain points for their capital and, in the case of protocols with incentive programs, receive a yield without compromising liquidity.
The protocol also contains a planned feature called Ether.fi Cash, which will allow users to load their Ether.fi balances onto Visa cards for in-store transactions, as well as liquid vaults for eETH, ETH, and USDC to aggregate profits from partner protocols.
According to DeFiLlama, Ether.fi is presently the sixth largest protocol in all of DeFi with $6.65 billion in TVL.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
