ether.fi

ether.fi offers a suite of products combining staking, restaking, and decentralized finance (DeFi) strategies. This platform provides a way to earn yield without sacrificing liquidity, along with a crypto-backed credit card for real-world spending.

ETH and Stablecoin Yields

ether.fi Stake

This option is focused on Liquid Restaking Tokens (LRTs). You deposit a core asset (like ETH, BTC, or stablecoins) and in return, you receive a value-accruing token that earns rewards while remaining usable across the DeFi ecosystem.

• How it Works: You stake your original asset, and it is put to work to secure and support the Ethereum ecosystem through restaking. You receive a liquid token (like weETH) that represents your staked position and automatically accumulates rewards. This token can then be traded, used as collateral, or put into other DeFi protocols.
• Assets and Rates:
  • weETH (Staked ETH): 3.99% APY + Rewards
  • eUSD (Staked Stablecoins): 6% APY + Rewards
  • eBTC (Staked BTC): APY is to be determined (TBD) + Rewards

ether.fi Liquid

This product offers automated DeFi strategy vaults. Instead of just staking, Liquid actively deploys your assets across various vetted DeFi protocols to optimize and auto-compound your earnings. It is designed for users who want to earn yield without having to manage complex DeFi strategies themselves.

• How it Works: You choose a vault based on your desired asset (e.g., ETH, BTC, or USD stablecoins) and deposit your funds. The vault then automatically executes strategies, moving assets between different protocols to maximize yield. Your earnings are auto-compounded within the vault.
• Vaults and Rates:
  • Liquid ETH Yield: 3.45% APY + Rewards
  • Market-Neutral USD: 9.55% APY + Rewards
  • Liquid BTC Yield: 1.23% APY + Rewards

Key Differences

• Strategy: "Stake" is centered around earning rewards from the underlying proof-of-stake and restaking mechanisms of the blockchain. "Liquid" is about earning yield from active, higher-complexity DeFi strategies like lending and liquidity provision.
• Asset Received: With "Stake," you get a liquid, value-accruing token back (e.g., weETH). With "Liquid," your deposited assets remain in the vault, and your balance grows as rewards are compounded.
• Rates: The rates for "Liquid" vaults, particularly the Market-Neutral USD vault (9.55% APY), can be higher than the base staking rates, reflecting the more active and complex strategies being employed. However, the rates for specific assets like ETH and BTC are currently lower in the Liquid vaults compared to direct staking.

Spend and Earn with the ether.fi Cash Card

ether.fi also offers a crypto-powered credit card called Cash Card that allows users to spend against their crypto holdings. This non-custodial Visa card can be used at over 100 million locations worldwide and is compatible with Apple Pay and Google Pay. Learn more about ether.fi's Cash Card.

A key feature of the card is its cashback rewards program. Users earn up 2-3% cashback on all purchases, depending on the number of membership points on your account. The card functions as a credit card, allowing users to borrow against their crypto collateral rather than selling it, which can be a more tax-efficient way to spend.