ether.fi
score
Fees: ~10% of staking rewards
The category leader for users wanting liquid restaking exposure with the deepest liquidity and broadest integrations. The key caveat is that restaking stacks new operator and AVS slashing risks on top of normal staking, and those layers remain largely unproven. Not financial advice.
What ether.fi actually is
ether.fi is a non-custodial liquid restaking protocol that launched in 2023. You deposit ETH (or an existing liquid staking token) and receive weETH in return, a liquid restaking token, or LRT, that represents your staked ETH plus restaking exposure through EigenLayer while staying freely usable across DeFi. A defining feature is that stakers retain control of their own validator keys, so the design leans non-custodial rather than pooling everything under a single operator.
Where it leads the category
This is the strongest scorer in our liquid-restaking group, and the numbers show why. Adoption sits at 9.5 because weETH is the largest LRT by total value locked and is plugged into most major lending, DEX and yield venues. Liquidity scores 8.5 thanks to that broad footprint, which makes exiting a position far less painful than with smaller peers. Security and audits also land at 8.5, reflecting multiple reviews and a relatively mature, decentralized node-operator setup rather than a single point of failure.
Fees and yield
ether.fi takes roughly 10% of staking rewards, a level that is broadly in line with what large staking providers charge. On yield we score it a moderate 7, and the reason is important: headline returns often lean on external incentives and points programs rather than base staking alone. That makes the advertised rate less durable than it can appear, so it is worth separating the underlying staking yield from temporary reward boosts when comparing options.
The caveat that matters
Risk transparency scores 7.5, which is solid but not flawless. The core caveat is structural to restaking itself: weETH stacks new operator and future AVS slashing risks on top of ordinary Ethereum staking, and those layers remain largely unproven in real conditions. There is also a reflexivity problem, since points and airdrop expectations have pulled in TVL that could unwind quickly if incentives fade. None of this is unique to ether.fi, but its scale means a lot of capital is exposed to the same young mechanics.
Who it's for
For users who specifically want liquid restaking exposure and value the deepest liquidity and the widest set of integrations, ether.fi is the category benchmark. It suits people who understand that they are taking on restaking risk on top of staking risk and who want the easiest exit if they change their mind. Anyone uncomfortable with unproven slashing layers, or who only wants plain staking, may prefer a simpler liquid staking token. This is analysis, not financial advice.
Overall 8.1 / 10 — the weighted average of the criteria above. How we score →
- + Largest LRT by TVL with weETH integrated across most major DeFi venues
- + Multiple audits and a relatively mature, decentralized node-operator setup
- + Non-custodial design where users retain control of validator keys
- + Deep secondary liquidity making exits easier than smaller peers
- − Layered EigenLayer restaking risk (operator misconduct, future AVS slashing) still largely untested in practice
- − Points/airdrop-driven TVL can be reflexive and unwind quickly
- − Yield depends heavily on external incentives, not just base staking
Is ether.fi safe?
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It is one of the more carefully built LRT protocols, with multiple audits, a decentralized operator set and a non-custodial design where you keep control of validator keys, which is why we score security and audits 8.5. That said, weETH adds EigenLayer operator and future AVS slashing risk on top of normal staking, and those layers are still largely untested, so no restaking product is risk-free.
What are ether.fi's fees?
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ether.fi charges roughly 10% of staking rewards, similar to other large staking providers. That fee applies to the rewards you earn, not your principal. Remember that much of the advertised yield can come from external incentives rather than base staking, so the net return you keep can vary.
How do you use ether.fi?
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You deposit ETH or a supported liquid staking token and receive weETH, which you can hold to accrue staking and restaking rewards or deploy across DeFi venues that accept it. Because weETH has deep secondary liquidity, exiting is generally easier than with smaller LRTs, though you should always check current market depth before moving a large size.
Is ether.fi a good liquid-restaking choice?
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With an overall score of 8.1 it is the strongest performer in our liquid-restaking group, driven by category-leading adoption, deep liquidity and solid audits. Whether it suits you depends on your comfort with layered restaking risk and incentive-dependent yield. This is not financial advice.
What is weETH?
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weETH is ether.fi's liquid restaking token. It represents your staked ETH plus restaking exposure through EigenLayer, accrues rewards over time, and can be used as collateral or liquidity across many DeFi protocols, which is what gives ether.fi its standout integration breadth.