Ether.fi

Etherfi eETH

Ether.fi eETH is a liquid restaking token on Ethereum representing natively staked and restaked ETH. Yield comes from Ethereum consensus and execution layer staking rewards plus additional restaking rewards via EigenLayer and Symbiotic.

AUM

$5.62b-3.84%

APY

2.59%-15.39%

BB+Rated Protocol

Updated Apr 29, 2026

Risk Rating

BB+

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This rating is based solely on publicly available information. The range from BB+ to AA- reflects the gap between the current assessment and the potential rating achievable if all identified improvement areas are addressed.

SCS: Smart Contract Security

KMP: Key Management Permissions

M: Market

L: Liquidity

C: Collateral

PM: Protocol Mechanics

ICE: Infra Counterparty Exposures

PCE: Protocol Counterparty Exposures

G: Governance

FR: Financial Resilience

TLC: Team Legal Compliance

DT: Documentation Transparency

Potential Score

Provider risk assessed across Business, Operations, Reliability, and Security.

View the detailed scoring breakdown

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Contract Addresses

TokenContract

0x35fA...8ac2

weETH

0xCd5f...b7ee

Treasury1

0x7D4b...d5Cd

Treasury2

0x7A6A...bB53

Treasury3

0x5f0E...Ae55

Treasury4

0xD022...C90b

EtherFiAdmin

0x0EF8...D705

StakingManager

0x25e8...f01E

EtherFiTimelock

0x9f26...0761

MembershipManager

0x3d32...3000

LiquidityPool (FundsHolder)

0x3088...F216

Key Strengths

Extensive audit coverage from top-tier firms including formal verification by Certora, with an active Immunefi bug bounty program offering up to $300k for critical vulnerabilities
No confirmed exploits causing user fund loss across the full protocol history, with security incidents successfully mitigated before any compromise
Real-time 24/7 security monitoring via Hypernative partnership protecting the ecosystem
Identified founding team with strong entrepreneurial track record and $32.3M raised from reputable institutional investors
Comprehensive documentation covering architecture, risks, deployed contracts, and governance framework

Key Risks

Admin multisig appears to have a small number of signers, creating centralization risk despite timelock protection
eETH/weETH has not been stress-tested under severe depeg or bank-run conditions, unlike battle-tested peers that have processed large withdrawal queues during market stress
EigenLayer restaking introduces socialized slashing risk from AVS operators that is additional to standard staking risk
No dedicated ring-fenced safety module with binding loss compensation rules exists; the treasury serves multiple purposes without specific reserve commitments
Treasury composition including liquid versus illiquid reserves is not publicly disclosed, limiting assessment of financial buffer adequacy