EtherFi (ETHFI) is a liquid staking protocol that operates on the Ethereum network. This protocol allows users to stake Ether (ETH) without having to lock their assets permanently. By using EtherFi, users can receive representative tokens called eETH, which reflect the amount of ETH they are staking. These eETH tokens can be used in various decentralized finance (DeFi) applications, providing flexibility and the potential for additional earnings for users.
One unique feature of EtherFi is its non-custodial approach, meaning users maintain full control over their assets during the staking process. Additionally, EtherFi supports the concept of restaking through integration with protocols like EigenLayer, allowing users to optimize the returns on the ETH they are staking.
The ETHFI token, which is the native token of the EtherFi protocol, is used for various purposes within its ecosystem, including protocol governance and incentives for users.
If you are interested in exploring further or want to start staking ETH through EtherFi, make sure to conduct thorough research and understand the risks associated with staking activities and the use of DeFi protocols.