[FSVP-4] eETH LP LRT Smart Vault

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Summary & Links

Smart Vault Details

Protocol Description:

eETH, brought to you by ether.fi, is a Liquid Restaking Token that allows users to stake their ETH to accrue staking rewards and automatically restake their ETH in EigenLayer. weETH is the wrapped non rebasing version of eETH that can be used throughout the DeFI ecosystem. ether.fi will be working with DeFi partners to create utility for weETH including Balancer, Gravita, Pendle, Aura, Maverick, and many more, as well as other layer two protocols proceeding the launch date.

The protocol abstracts all complexity from the end-user and enables easy collaboration between them and EigenLayer node operators.

Strategy Description:

Using Curve or Convex adapter, stake the user’s weETH/WETH Curve LP Token, earning additional CRV rewards. Earned tokens are swapped for more LP Token. To complete the compounding cycle, the new LP Token is added to the farm, ready to go for the next earning event.

Additionally, users receive oVCX emissions, boosted EtherFi Loyalty Points, trading fees, and CRV emissions.

Vault will be on Ethereum mainnet.

Vault shares to be used as receipt of deposits to track points. User redeems vault share for underlying deposit.

Value proposition

ezETH has already accumulated $1.27B in TVL, and will continue given it accepts native ETH deposits that are not capped by EigenLayer.

For users, this is a strong alternative to LPing directly to Curve as the vault handles staking, reward compounding, and importantly offers oVCX emissions as a boosted APR.


  • Co-marketing
  • Inclusion on DeFi with Loyalty Point multiplier


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