# ether.fi

> Save, grow, spend.

ether.fi is a decentralized staking and restaking company for Ethereum, Bitcoin, and stablecoins. It lets users earn staking and DeFi yield while spending crypto through a linked card.

ether.fi is a decentralized finance company offering non-custodial staking, restaking, and yield products for Ethereum, Bitcoin, and stablecoins. Users deposit assets and receive liquid tokens that accrue staking and restaking rewards while remaining usable across other decentralized applications. The platform is built for holders who want to keep control of their private keys while still earning yield on deposited assets.

The company addresses the tradeoff between custodial staking services and self-managed validator operation by using distributed validator technology to spread key management across multiple node operators. Deposited assets are pooled and restaked through partner networks, generating layered rewards without requiring users to run their own infrastructure. Automated strategy vaults route deposits across a range of decentralized protocols to manage yield generation on behalf of depositors.

Its product lineup centers on a staking and restaking offering built around its liquid token, alongside automated yield vaults and a non-custodial spending card that lets holders use crypto for everyday purchases. It also provides institutional staking and corporate card services for business clients. The offering is used by individual crypto holders seeking yield and liquidity, as well as businesses and institutions integrating staking or card services into their operations.

- Type: Company
- Sector: Finance
- Status: Active
- Founded: 2022-01-01
- Profile: https://thegrid.id/profiles/ether_fi

## Products

- [ether.fi Stake](https://thegrid.id/profiles/ether_fi): ether.fi Stake is a decentralized liquid staking and restaking protocol for users seeking yield on ETH, BTC, and stablecoins. Users deposit assets into a non-custodial liquidity pool that operates validators and restakes pooled ETH through EigenLayer, receiving value-accruing tokens such as weETH, eBTC, and eUSD in return. These tokens remain liquid and composable, allowing holders to use them as collateral or trading assets across hundreds of other DeFi protocols while still earning staking and restaking rewards. (Liquid Staking, Live, Main Product)
- [ether.fi Liquid](https://thegrid.id/profiles/ether_fi): ether.fi Liquid is an automated yield vault system for users who want diversified DeFi exposure without managing individual positions. It allocates deposited ETH, BTC, stablecoins, and real-world-asset tokens across curated third-party lending, liquidity, and leveraged-farming protocols, continuously rebalancing positions and auto-compounding rewards. Users deposit into a chosen vault and withdraw or move between vaults as strategies change, while the underlying strategist activity is constrained to prescribed positions encoded in each vault's smart contract. (Yield Aggregator, Live)
- [ether.fi Cash](https://thegrid.id/profiles/ether_fi): ether.fi Cash is a non-custodial credit card allowing users to spend cryptocurrency holdings at merchants worldwide. The card draws on a user's ether.fi crypto balance to fund purchases, converting value at the point of sale through card network infrastructure, and offers cashback rewards on spending along with Apple Pay and Google Pay compatibility. It integrates with the user's staking and vault holdings so that assets can be used as collateral or funding sources while remaining under the user's control, and it is also offered as a corporate spending card for teams. (Card, Live)

## Assets

- [ether.fi governance token (ETHFI)](https://thegrid.id/profiles/ether_fi): ETHFI is the governance token of ether.fi. It is used to vote on protocol upgrades, economic parameters, the grants program, and to greenlight node operators. The token benefits from a buyback program funded by protocol revenue. (Governance)
- [ether.fi ETH (eETH)](https://thegrid.id/profiles/ether_fi): eETH is a liquid staking token representing staked ETH on the ether.fi protocol. It is a rebasing ERC-20 token whose balance increases automatically to reflect accrued staking and restaking rewards from Ethereum consensus and EigenLayer, maintaining composability across DeFi. When the protocol oracle reports rewards, the total pooled ETH rises without increasing the number of shares, raising the value of each share for all holders. (Liquid Staking Tokens (LSTs))
- [Wrapped eETH (weETH)](https://thegrid.id/profiles/ether_fi): weETH is a non-rebasing wrapped version of eETH, the liquid staking token of ether.fi. It represents staked ETH across DeFi protocols on multiple blockchains, earning Ethereum staking rewards and EigenLayer restaking yields while maintaining liquidity. Unlike eETH, which grows through rebasing, weETH reflects value appreciation through an increasing exchange rate, making it compatible with lending markets and liquidity pools that cannot handle balance changes. (Wrapped Tokens)
- [ether.fi BTC (eBTC)](https://thegrid.id/profiles/ether_fi): eBTC is a Bitcoin-backed liquid restaking token issued by ether.fi through a partnership with Lombard. Users deposit LBTC or WBTC to earn combined staking and restaking yields across multiple DeFi protocols and chains. The token is backed by LBTC staked through Babylon, with restaking services provided through EigenLayer, Symbiotic, and Karak, generating dual yields from both Bitcoin staking and restaking simultaneously. (Liquid Staking Tokens (LSTs))
- [ether.fi USD (eUSD)](https://thegrid.id/profiles/ether_fi): eUSD is a USD-pegged stablecoin issued by ether.fi backed by USDe through a partnership with Ethena. It is used as collateral in the ether.fi Cash credit card and accepts deposits of USDe, USDC, DAI, and USDT. The token generates dual yields from Ethena's tokenized basis trade and restaking rewards through EigenLayer. (Stablecoin)

## Links

- [Main](https://www.ether.fi)
- [Privacy policy](https://etherfi.gitbook.io/etherfi/ether.fi-legal/privacy-policy)
- [Terms of Service](https://etherfi.gitbook.io/etherfi/ether.fi-legal/terms-of-use)
- [Documentation](https://etherfi.gitbook.io/etherfi)
- [Forum](https://governance.ether.fi)
- [Governance](https://snapshot.box/#/s:etherfi-dao.eth)
- [Whitepaper](https://etherfi.gitbook.io/etherfi/ether.fi-whitepaper)
- [Twitter / X](https://x.com/ether_fi)
- [Discord](https://discord.gg/etherfi)
- [Telegram](https://t.me/etherfi)
- [GitHub](https://github.com/etherfi-protocol)
- [Medium](https://etherfi.medium.com)

## Legal

This data is provided under two licensing models.

Model 1 - open data. The open data core is licensed under the Open Database License (ODbL) — a copyleft/share-alike license allowing free use, modification, and sharing for any purpose. Attribution is required: include "Powered by The Grid" linking to https://thegrid.id wherever the data is used. Derivative databases must be shared under ODbL terms. Trademarks, logos, and brand names (marked "Special TPIP") are not covered by the ODbL. For ML/AI use: training datasets that substantially extract ODbL data are Derivative Databases and must be shared under ODbL if publicly used; models must be attributed in documentation.

Model 2 - commercial licenses. The Grid Data Service (TGDS) is also available as a commercial license. See [Web Services Terms](https://about.thegrid.id/legal/web-services-terms) for commercial use that is not covered by the open data service.

The following applies to both licensing models.
- All data is provided AS IS with no guarantees of accuracy.
- The Grid does not provide investment, legal, or tax advice, and
- a project's presence in The Grid's data does not imply endorsement.


- [Data Licensing & Disclaimers](https://about.thegrid.id/legal/data-licensing-and-disclaimers): Licensing models and disclaimers
- [Open Data (ODbL)](https://about.thegrid.id/legal/open-data): Open Database License terms and scope for The Grid's open data service.
- [Attribution Guidelines](https://about.thegrid.id/legal/open-data-attribution-guidelines): How to attribute The Grid's data when using the open data service.
- [Web Services Terms](https://about.thegrid.id/legal/web-services-terms): commercial Terms for using data services.
- [All Legal Documents](https://about.thegrid.id/legal): Full index of terms, policies, and disclosures

## Optional

- [TGS Field Descriptions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-field-descriptions.md): Schema field definitions for The Grid's data model
- [TGS JSON Structure](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-json-structure.md): Data model structure and relationships
- [Product Type Definitions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-definitions.md): Definitions for each product type
- [Product Type Classification](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-classification.md): Guide for classifying products into types
- [Grid MCP Guide](https://github.com/The-Grid-Data/workspace-public/blob/main/grid-search/skills/grid-query/references/grid-mcp-guide.md): How to query The Grid programmatically via MCP