After the airdrop and distribution through Binance Launchpad, the token price of Ether.Fi stands at $4.13, indicating significant market potential

Ether.Fi is a new infrastructure-based staking protocol on Ethereum. Ether.Fi allows participants to retain control of their keys while engaging in delegated staking.

Deposits to Ether.Fi automatically undergo re-staking with Eigenlayer. Eigenlayer utilizes staked ETH to support external systems such as rollups and oracles, establishing an economic security layer that enhances the earnings of ETH stakers in the process.

ETHFI Debut: Liquid Restaking Protocol's Governance Token Starts Strong on Binance Launchpad

ETHFI, the governance token of the leading liquid restaking protocol Ether.Fi, debuted at $4.13 following distribution through an airdrop and participation in a Binance Launchpad round.

As of the current writing, ETHFI is trading at $4.10 on Binance, with an impressive trading volume exceeding $2 million within the initial five minutes of trading. The token boasts a fully diluted value of $4.13 billion, indicating substantial market potential.

Binance Launchpad Stakers Secure ETHFI Allocations Despite Declining Token Performances

Over $2 billion worth of the FDUSD stablecoin and 17.3 million BNB (approximately $10 billion) were staked on the Binance Launchpad. Stakers on the Launchpad received ETHFI allocations proportional to their staked amounts.

However, several tokens recently listed on Binance's Launchpad experienced declines post-release: ARKM dropped from 90 cents to 30 cents, while PORTAL fell from $3.60 to $2.08 shortly after issuance.

ETHFI Tokenomics and Ether.Fi's Surging TVL: Insights into Token Distribution and Restaking Strategies

ETHFI's max supply is capped at one billion tokens, with 20 million allocated to the Binance Launchpad and 60 million set aside for the initial token airdrop "season one," concluding on March 15. An additional 50 million tokens will be distributed during "season two."

Investors will receive 32.5% of the token's total supply over a two-year vesting period, while core contributors will receive 23.26% over three years. The initial circulating supply will consist of 115.2 million tokens.

According to DefiLlama, Ether.Fi's total value locked (TVL) surged by 117% in the last 30 days, with total deposits nearing $3 billion. Restaking, a strategy utilized by ETH stakers seeking additional yield, involves using protocols like Ether.Fi to receive a liquid restaking token (LRT) and loyalty points convertible into token airdrops.