Ether.fi review 2026
TL;DR
Ether.fi is the largest liquid restaking protocol on Ethereum. Stake ETH, receive eETH, which automatically restakes through EigenLayer. You earn staking rewards, restaking yield, and bonus points – all at once. TVL is over $5.7B, and there's even a crypto banking card called Cash Card.
Go to Ether.fiWhat is Ether.fi
Ether.fi is a liquid restaking protocol launched in 2023. Its defining feature is that you keep control of your validator keys (non-custodial model), unlike most competitors such as Lido. When you stake ETH, you receive eETH – a liquid token you can use across DeFi while your ETH works in both staking and EigenLayer simultaneously.
In 2026, Ether.fi significantly expanded its ecosystem: alongside staking and restaking, the team launched Cash Card – a crypto banking card with up to 4% cashback in wETH and the ability to borrow against collateral at 0% interest. They also released vault products: weETHs (earns Ether.fi + Symbiotic + Veda points) and eBTC (Bitcoin restaking). TVL exceeds $5.7B, the ETHFI token is used for governance, and 25% of monthly revenue goes toward token buybacks.
Supported networks
Pros and cons
Pros
- +Non-custodial model – you control your validator keys
- +$5.7B TVL – the largest liquid restaking protocol
- +Triple yield: staking + EigenLayer + bonus points
- +Cash Card with 4% cashback in wETH
- +25% of monthly revenue goes toward ETHFI buybacks
Cons
- –Restaking yield is currently moderate – EigenLayer is still maturing
- –Dependency on EigenLayer – if its security is compromised, eETH is affected
- –ETHFI token has lost significant value since launch
- –Cash Card is not yet available in all regions
- –Complex ecosystem – eETH, weETH, weETHs, weETHk – easy to get confused
Fees
ETH staking: no protocol fees. Base yield ~2.8% APY from Ethereum staking, plus additional yield from EigenLayer (variable). Cash Card: $0 annual fee, 0% on loans during the promo period.
Security
Ether.fi has been audited by Certik, Zellic, and Solidified. There have been no exploits or loss of funds since launch. The non-custodial model means that even if the team disappeared, users could still withdraw their funds. The protocol uses multi-signature wallets and timelocks for upgrades.
Who it's for
Ether.fi is the best choice for anyone looking to maximize yield on staked ETH. If you're already staking ETH with Lido or directly, switching to Ether.fi adds extra income from EigenLayer restaking. Cash Card is a bonus for those who want to spend crypto in everyday life.
FAQ
How does Ether.fi differ from Lido?
Lido is liquid staking (stETH). Ether.fi is liquid restaking (eETH). With Ether.fi you earn both staking and EigenLayer yield simultaneously. Plus Ether.fi is non-custodial – you control the keys.
What yield can I expect?
Base ~2.8% from ETH staking + EigenLayer yield + bonus points. Total can reach 5–16% depending on strategy.
What are eETH and weETH?
eETH is a rebasing token (balance increases). weETH is wrapped eETH with a fixed balance (more convenient for DeFi). Both represent your staked ETH.
What is Cash Card?
A crypto banking card from Ether.fi. Up to 4% cashback in wETH, ability to borrow against staked ETH as collateral. $0 annual fee.
Is staking on Ether.fi safe?
The protocol has passed multiple audits and has never been exploited. The non-custodial model adds a layer of protection. But staking and EigenLayer risks still apply.
This article contains affiliate links. Not financial advice. DeFi carries a risk of loss – invest responsibly.