Etherfi weETH DeFi Yield & Risk Rating
Ether.fi weETH is the non-rebasing wrapped form of eETH, a liquid restaking token on Ethereum representing staked ETH that is also restaked through EigenLayer. Yield comes from Ethereum consensus and execution layer staking rewards plus EigenLayer restaking rewards. weETH is the DeFi-integrated form bridged cross-chain via LayerZero OFT.
AUM
$5b
Net APY
2.53%
Active Users
28k
Type
Liquid Staking
Network
Ethereum
BB+
Elevated RiskCeiling AAA
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CurrentPotential
This rating is based solely on publicly available information. DeFi protocol risk assessed across Security, Strategy and Operations on the AAA–D scale. The range from BB+ to AAA reflects the gap between the current assessment and the potential rating achievable if all identified improvement areas are addressed.
SCSSmart Contract Security94
KMPKey Management Permissions81
MMarket87
LLiquidity100
CCollateral100
PMProtocol Mechanics100
ICEInfra Counterparty Exposures82
PCEProtocol Counterparty Exposures100
GGovernance70
FRFinancial Resilience60
TLCTeam Legal Compliance100
DTDocumentation Transparency100
Performance
Assets Under Management · 30D▲ 38.11%
$5b
Over the last 30 days, the total value of Etherfi weETH has grown 38.11% with $1.24B in inflows.
Net APY · 30D▼ 12.42%
2.53%
Over the last 30 days, the APY has decreased from 2.89% to 2.53%.
Active Users · 30D▲ 0.52%
28k
Over the last 30 days, active users have increased by 0.52%, reaching 28.4K wallets.
Market Details
ChainEthereum
TreasuryNot reported
Code AuditsCertora ↗Zellic ↗Nethermind ↗Omniscia ↗Halborn ↗Paladin ↗Decurity ↗Solidified ↗CertiK ↗Hats Finance ↗
Stated Withdrawal Time1-7 days
Component Ratings
Contract Addresses (15)
Key Strengths
S1Demonstrated mass-redemption resilience during a market-wide restaking-token exit wave, processing roughly a fifth of total value locked in exit requests with every request served in the stated window and no depositor haircuts.
S2The weETH peg held within a fraction of a percent of fair value through the most severe restaking-token stress event on record, with no sustained discount.
S3Best-in-class cross-chain verification: every active bridge lane requires a strict multi-party quorum of independent verifier networks with no single-verifier fallback, pinned message libraries, and the bridge provider's own multisig locked out of the configuration.
S4Extensive audit coverage from many independent firms published in an open registry, backed by a large active Immunefi bug bounty.
Key Risks
R1Realized on-chain voting power is heavily concentrated, with a single address deciding recent governance votes; this is the rating's only high-risk score, though it is considered improvable rather than structural.
R2No published audit is evidenced as covering the live cross-chain verifier configuration — only the bridge code has been reviewed — leaving the protocol's most critical bridged attack surface without evidenced independent review of its deployed state.
R3Bridge rate-limit values are unpublished and no automatic pause is bound to a cap breach, and the verifier networks' data-source architecture is undocumented.
R4Multisig signers are published by address only with identities deliberately withheld, so the independence of the controlling parties cannot be confirmed from public information.
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