Skip to content
yieldo.
Open Telegram
yieldo.
EN RU
Open Telegram

Your ecosystem guide / ether.fi

ether.fi: stake, earn, pay and borrow

ether.fi brings ETH staking, automated vaults and a payment account together. Stake ETH for eETH or weETH, stake ETHFI for sETHFI, or use Cash to spend a balance or borrow against eligible assets.

Get started Explore the ecosystem
ETH staking
eETH · weETH
Verified on 23.10.2026
Governance token
ETHFI · sETHFI
Verified on 23.10.2026
Card spending
Balance or collateralised loan
Verified on 23.10.2026
ether.fi
All sections

ETH → weETH · ETHFI → sETHFI · balance or loan

Choose the asset you put in and the position you receive

ETH staking earns network rewards. ETHFI staking earns ETHFI rewards. A card purchase either uses your balance or creates a loan.

Stake ETH

  1. 01Deposit ETH
  2. 02Receive eETH or wrapped weETH
  3. 03Hold a liquid ETH staking position

eETH balances rebase as Ethereum staking rewards accrue. With weETH, the token balance stays fixed while the amount of eETH represented by each token changes. The position can be transferred or used across supported DeFi venues.

How this works ↗

Stake ETHFI

  1. 01Deposit ETHFI
  2. 02Receive sETHFI
  3. 03Accrue ETHFI rewards automatically

sETHFI represents staked ETHFI. Rewards compound automatically, and the position counts towards Cash membership. Returning to ETHFI uses an unstaking request with an expected processing time of up to 14 days.

How this works ↗

Pay from a balance

  1. 01Choose an eligible spend asset
  2. 02Pay with the Cash card
  3. 03The purchase reduces that balance

Direct Pay uses assets already available in your Cash account. Set Spend Priority selects which eligible asset is used first, including supported stablecoins and Liquid positions.

How this works ↗

Pay with a loan

  1. 01Supply eligible collateral
  2. 02Spend in Borrow Mode
  3. 03Repay the borrowed asset and interest

Borrow Mode creates a loan against eligible assets when you spend. Interest accrues while the debt remains outstanding. Asset prices and accrued interest affect the position’s health; reaching its liquidation threshold can cause collateral to be sold.

How this works ↗

Products for staking, earning and using a balance

The account connects several products. Each has its own supported assets, reward source and withdrawal process.

Liquid ETH staking

ETH Staking

Deposit ETH and receive eETH or weETH. To redeem for ETH, use the ordinary queue with no protocol fee or instant redemption with a fee when liquidity is available. Network gas is paid separately.

Open ↗ Product details ↗

Automated vault strategies

Liquid

Liquid allocates assets across selected strategies. Its Breakdown view shows positions, protocols and networks; each vault has its own fees and exit process.

Open ↗ Product details ↗

Card and payment account

Cash

Cash connects the card to an account balance. Direct Pay and Borrow Mode determine how a purchase is funded.

Open ↗ Product details ↗

Supply and borrow

Borrow

Eligible supplied assets earn lending interest and can back a loan. The Borrow page shows debt, borrowing capacity and position health.

Open ↗ Product details ↗

Trade within the account

Markets

The account offers crypto, tokenized stocks and metals. Available assets and trading access depend on the product and jurisdiction.

Open ↗ Product details ↗

Stake the governance token

ETHFI / sETHFI

Stake ETHFI in Earn to receive sETHFI. The account tracks rewards and the progress of an unstaking request.

Open ↗ Product details ↗

One ETH staking position, two token formats

eETH and weETH represent ETH placed with Ethereum validators. The token format determines how accrued rewards appear in a wallet.

eETH

A rebasing balance

The quantity of eETH changes as staking rewards are accounted for.

weETH

A fixed token balance

Wrapping eETH produces weETH. The number of weETH tokens stays fixed while the eETH represented by each token changes. This format is widely used in DeFi integrations.

weETHs

An additional strategy

weETHs is a separate, optional managed restaking product involving Symbiotic. Its additional reward sources and exit conditions belong to that position.

Liquid manages a basket of positions

A vault deploys deposited assets into strategies and rebalances them. Veda provides infrastructure for most vaults; Midas provides the real-world asset and reserve vaults.

ALLOCATE

See what the vault uses

Breakdown shows the underlying protocols, positions and networks. The strategy mix determines where the position’s return comes from.

ACCRUE

Returns stay in the position

Strategy returns increase the value of the vault token. The vault’s factsheet lists management and any performance fees.

REDEEM

Leave through the vault’s process

Withdrawals depend on strategy liquidity and redemption queues. The withdrawal screen shows available assets and the current processing estimate for that vault.

A purchase can spend assets or create debt

Cash keeps Direct Pay and Borrow Mode as separate ways to fund the card.

DIRECT PAY

Choose the asset to spend

Set Spend Priority can select eligible assets such as USDC, USDT, EURC and supported Liquid tokens. Cash uses the selected asset when an available balance can fund the payment.

BORROW

Keep track of the debt

Borrowing uses eligible collateral and carries a variable interest rate. Repayment uses the borrowed asset or a supported repayment route; the Borrow page tracks the outstanding balance.

POSITION HEALTH

Collateral supports the loan

The borrowing limit caps how much you can borrow. The liquidation threshold determines when part of the collateral can be sold to repay debt. Health Factor shows how close the position is to that threshold.

ETHFI governance and the sETHFI position

ETHFI connects holders to ether.fi governance. Staking ETHFI adds the sETHFI position, automatic rewards and membership qualification.

GOVERNANCE

Participate in protocol decisions

The etherfi-dao.eth Snapshot space hosts voting. ETHFI and sETHFI holders can participate in decisions about the treasury, token utility and protocol development.

sETHFI

Accrue rewards and qualify for membership

Staking returns sETHFI, with ETHFI rewards accounted for automatically. Staked ETHFI also contributes to Cash membership qualification under the current programme.

UP TO 14 DAYS

Request ETHFI back

Open the staked ETHFI position and select Withdraw. Cash web and iOS support this route. For a personal-wallet position, open the ETHFI page, connect the wallet and select the network where the tokens are staked. Keep the Cash account active until processing finishes.

Start with the product you intend to use

A supported wallet can access staking interfaces. Cash adds an account, card eligibility and identity verification for the card.

01

Choose staking or an account

For an ETH position, open the official staking page. For Cash and its connected products, open the account and follow the product’s onboarding.

02

Card eligibility is regional

The Cash card requires successful identity verification and a supported country or region. Physical-card delivery covers a different set of locations from account eligibility.

03

Vault access is product specific

Liquid availability depends on account location. The current Liquid guide excludes the United States, Canada and the United Kingdom; unavailable vaults are hidden in the app.

Network rewards, lending interest and ETHFI purchases

An ETH staking position, a lending position and sETHFI receive value through different mechanisms. Product fees can also fund the documented ETHFI buyback programme.

Ethereum staking rewards

Ethereum rewards → ETH staking participants

Ethereum validators earn consensus and execution rewards. The staking position accounts for rewards after the applicable operator and protocol fees.

Ethereum staking rewards

Consensus and execution rewards

ETH staking position

eETH / weETH holders

Rewards are reflected through the token’s balance or exchange rate

Borrowers

Borrowers → lending-market suppliers

Borrowers pay interest on their outstanding loans. That interest funds returns for assets supplied to the lending market.

Borrowers

Interest on outstanding debt

Onchain lending market

Suppliers

Rates depend on borrowing demand and the amount of assets supplied

Revenue allocated to the buyback programme

Allocated revenue → ETHFI purchases → sETHFI

The documented programme uses withdrawal revenue and a share of Stake, Liquid and Cash revenue to buy ETHFI. Purchased tokens go to sETHFI participants; the DAO or Foundation can also allocate a portion to liquidity.

Revenue allocated to the buyback programme

Product and withdrawal revenue allocated to ETHFI purchases

Purchase existing ETHFI

sETHFI participants

Purchased ETHFI distributed through the programme

Product documentation and ecosystem sources

Current ETH staking products ↗eETH and weETH token mechanics ↗Liquid vaults and their infrastructure ↗Vault rewards, fees and withdrawal queues ↗Direct Pay spend priority ↗How Borrow works ↗Cash card countries and eligibility ↗Staking ETHFI for sETHFI ↗Returning sETHFI to ETHFI ↗ETHFI buyback programme ↗Governance proposals and voting ↗

Official Telegram reference links

Checked on 23.10.2026

Recent activity has not been confirmed.

ether.fi @etherfifam A community chat about ether.fi staking, protocol updates and ETHFI.
Full list on telegram-crypto.com →

2 Discord communities on ether.fi

Checked on 23.10.2026

ether.fi ether.fi’s own community for its ETH liquid staking, Liquid vaults, Cash account and weETH integrations. Community About the ecosystem Hyperbeat Hyperbeat built beHYPE with ether.fi: HYPE liquid staking whose token can also be used in ether.fi Cash. Community About the ecosystem
Full list on discordcatalog.com →

5 sources about ether.fi

Official product and Foundation updates, two company leaders and investor commentary. We checked each selected account’s own dated posts; DCF GOD discloses DCF Capital’s ether.fi investment.

Checked on 23.10.2026

ether.fi ether_fi Project updates on ether.fi’s ETH liquid staking, Liquid vaults, Cash account and new account features. Official Affiliation confirmed ether.fi Foundation ether_fi_Fdn The Foundation’s ETHFI governance, staking and buyback announcements, with proposals and transaction reports. Official Affiliation confirmed Mike Silagadze MikeSilagadze ether.fi CEO Mike Silagadze on the product, tokenized assets and how the crypto account is developed. Builders About the ecosystem Rok Kopp KoppKnows ether.fi co-founder Rok Kopp explains Cash features, customer use and the platform’s product direction. Builders About the ecosystem DCF GOD dcfgod Investor commentary on ether.fi Cash, ETHFI and self-custody; the author discloses DCF Capital’s ether.fi investment. Analysis About the ecosystem
Full list on xfollowlist.com →

Information checked: 23 October 2026

Practical questions

1What does ether.fi offer?

ether.fi combines ETH staking, automated Liquid vaults and the Cash account. Cash connects card spending, borrowing and trading; each product has its own assets and terms.

2How are ETHFI and weETH different?

ETHFI is the governance token. Staking it produces sETHFI and ETHFI rewards. weETH wraps eETH and represents an ETH staking position with a fixed token balance.

3How do eETH and weETH show rewards?

eETH uses a rebasing balance. weETH keeps a fixed token balance, while the amount of eETH represented by each token changes as rewards accrue.

4Does ordinary ETH staking include weETHs?

weETHs is a separate, optional managed restaking strategy. A user chooses that additional position separately from holding eETH or weETH.

5What changes between Direct Pay and Borrow Mode?

Direct Pay spends an eligible account balance. Borrow Mode creates debt against eligible collateral; interest accrues until repayment, and the position is subject to liquidation rules.

6How long does ETHFI unstaking take?

The expected processing time is up to 14 days. Cash web and iOS show the request and its status. For a personal-wallet position, open the ETHFI page, connect the wallet and select its staking network.

7How does Liquid pay returns?

Returns are reflected in the value of the vault token. The vault’s Breakdown view shows the strategies and protocols; its factsheet and withdrawal screen provide fees and exit details.

Continue on Yieldo

ETHFI token Governance token, networks and live markets. Wrapped eETH The token representing a liquid ETH staking position. Withdraw ETHFI from an exchange Available networks, fees and minimums. ETHFI on exchange Earn Exchange products and their current terms. ether.fi revenue Protocol revenue and the route to sETHFI participants. Ethereum The network behind ETH staking and the original token contracts.