ether.fi Proposes Deploy ETHFI Staking Contracts on Ethereum Mainnet

Bittime - Re-staking platform ether.fi recently announced a new proposal to deploy ETHFI staking contracts on the Ethereum mainnet. This step is expected to increase user participation and strengthen the ETHFI ecosystem overall.  

Points Ether.fi loyalty

In the proposal put forward by ether.fi, users can stake ETHFI tokens to earn ether.fi loyalty points, the value of which will increase over time. This mechanism links rewards to participation in governance and effective balance, and includes future incentives and voting features.

Proposed Benefits of ether.fi

The aim of this proposal is to increase user engagement and participation in the ETHFI ecosystem by:

• Future Incentives: This proposal includes plans for additional incentives in the future, which will ensure continued engagement and rewards for long-term stakers.
• Effective Balance: The points system takes into account balances held in supported DeFi integrations, encouraging users to explore and utilize various DeFi platforms.
• Enhanced Participation: By allowing users to stake ETHFI tokens, ether.fi creates an additional layer of engagement in the ecosystem. This encourages token holders to participate actively rather than just holding their tokens passively.
• Voting Rights: Staking allows users to vote with staked tokens, enhancing decentralized governance and ensuring that community members have a direct say in protocol decisions.

Points Calculation 

• Based on Staking ETHFI: Points are earned based on the user's effective balance.
• Effective Balance: Balances can be held natively with weETH/eETH or in supported DeFi integrations.
• Points Increase: Users receive a 1.1x-2x increase in their loyalty points when staking ETHFI worth at least 10% of their total effective balance.

Review and Adjustment of Proposals

This proposal was designed with extensive community feedback in mind. Regular reviews and adjustments based on community feedback will ensure that the staking mechanism remains aligned with the needs and values ​​of the ETHFI community. 

Clear guidelines, transparent operations, and regular updates will build trust within the community, ensuring that the staking mechanism is considered fair and beneficial.

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