ether.fi Staked ETH
EETH
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EETH (ether.fi Staked ETH) represents a major liquid staking and restaking asset within the Ethereum ecosystem, operating at massive scale (~$10B TVL) with deep integrations across prominent DeFi protocols such as Aave and Morpho. The protocol demonstrates active ongoing engineering with architectural upgrades and continuous repository maintenance, supported by reputable security measures including audits from Halborn, formal verification, and a $500,000 Immunefi bug bounty. While governance structures rely heavily on core contributors and service providers, and dual-slashing/restaking risks are inherently present via EigenLayer integrations, no exploits, hostile delistings, or severe depeg incidents have occurred. Overall, the asset exhibits solid operational resilience, strong fundamentals, and consistent utility across Ethereum DeFi.
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About ether.fi Staked ETH (EETH)
ether.fi Staked ETH (EETH) is a rebasing liquid staking and restaking receipt token issued by the ether.fi protocol on the Ethereum mainnet. Founded in 2023 by Mike Silagadze and Tim Frost, the protocol allows users to deposit ETH to receive EETH at a 1:1 ratio, with tokens burned upon redemption. EETH accrues value through daily balance rebasing generated from native Ethereum staking rewards combined with restaking yield through EigenLayer. The protocol also supports a wrapped, non-rebasing variant known as weETH for decentralized finance integrations, while protocol governance is managed separately through the ETHFI token.
EETH functions within the Ethereum DeFi ecosystem, maintaining integrations with lending and liquidity protocols such as Aave and Morpho. The protocol operates at a scale of approximately $10 billion in total value locked (TVL), supported by tens of thousands of active validators. Governance is administered via a delegate framework introduced in 2024, though operational management and governance participation are heavily guided by core service providers and team accounts.
From a security perspective, ether.fi's smart contracts have undergone audits by firms including Halborn, implement formal verification via Certora, and maintain a bug bounty program on Immunefi with rewards up to $500,000. While the protocol has experienced no documented exploits, hacks, or depeg events, holding EETH entails inherent risks. These include dual-slashing exposure from both Ethereum consensus mechanisms and EigenLayer Actively Validated Services (AVS), smart contract dependencies across multiple protocol layers, and conditional redemption queues during periods of high market volatility.