Source: ether.fi; Compiled by Wuzhu, Golden Finance
Foreword
Following the success of ether.fi 2 Seasons 1, 2, and 3, ether.fi 2 proposes to extend the season plan by launching Season 4, aiming to promote community participation and support for the re-staking space while continuing to support the success of Ethereum ecosystem integration.
Goals
Develop a sustainable plan for future points seasons and rewards;
Support our partners by continuously expanding integrations;
Cultivate the leading liquidity re-staking token and AVS ecosystem.
Timeline
Start Date: September 15, 2024
End Date: Never
Seasons run every 4 months, starting after the end of Season 3.
Each season will have a unique set of rewards that will be revealed throughout the season.
Mechanics
StakeRank, StakingFrens, and the Diamond Campaign were all mechanisms used during Seasons 1-3 to increase re-staking awareness and community. These campaigns were all hugely successful, however as the protocol grew, the need to further simplify the mechanisms increased in order to achieve incentives across all asset verticals currently operated by ether.fi. With this in mind, the mechanisms for S4 are designed as follows.
ether.fi loyalty points continue to accrue at a rate of 10k per ETH per day, but will be boosted and multiplied for DeFi partners.
Quarterly rewards will be made up of a variety of reward tokens, including:
A maximum of 2,000,000 ETHFI per quarter may be used for quarterly rewards. This may be modified or increased each quarter.
Reward distribution will be based on ether.fi loyalty points accumulated during the quarter.
Quarterly rewards are separate and in addition to normal staking and re-staking rewards.
Introduction to LRT²
LRT² is a new protocol for distributing LRT rewards. It is a collaboration between all major LRT protocols on Ethereum, with plans to expand to include other L1s.
The purpose of LRT² is to package reward distributions for a large number of AVS into one reward token and create an industry standard.
LRT² will consist of two tokens:
LRT² Rewards Token, which contains all re-staking rewards.
LRT² Governance Token, which is used to manage reward token whitelists and parameters.
Benefits include:
Industry standardization.
Supply pipeline for AVS rewards.
For small stakers, rewards are aggregated. No need to claim multiple times as all rewards will accumulate into one unified token.
For the LRT protocol, this provides consistency in reward mechanisms and efficiency through standardization of reward distribution.
Additional Information
The proposed LRT² governance token will be distributed to protocols that join ether.fi to develop a unified restaking reward aggregation layer.
Community members will learn how they can qualify for incentive distributions and participate in Seasons 4+ activities through the protocol’s Discord, Twitter, and other social media.
Seasons 4+ incentive distributions will follow the same vesting schedule as previous seasons.
The intended design may evolve throughout the season as community feedback and suggestions emerge.
Conclusion
Through ongoing dialogue and community feedback, we have refined our plans to distill core functionality into an easy to use and understand format. ether.fi 2 Loyalty Points are the focal point of this season, constituting the single metric to unlock future rewards. We foresee an impending shift in the restaking landscape toward large-scale sustainable yields that will mark a turning point, and our partnerships with AVS and Networks will drive the next wave of growth. As the breadth of our product and depth of markets spans assets and ecosystems, ether.fi 2’s pillars of transparency, risk, and reputation play an increasingly important role. We expect this season to be one of the most impactful yet!
Next Steps
Receive community feedback on this interim check in the next 4 days and incorporate it into the snapshot proposal.
Thank you for your continued support.
JinseFinance
ZeZheng
Huang Bo
Bitcoinist
Nulltx