Ether.Fi Proposes New Reward Program for Stakers

The Ether.Fi community has received a proposal to reward ETHFI stakers.

The proposal, drafted by the Ether.Fi community admin, seeks to establish a revenue-sharing mechanism for ETHFI stakers. It proposes that 5% of the Ethereum-based staking platform’s revenue be allocated to buying ETHFI tokens monthly and distributed to ETHFI stakers.

“This proposal builds upon the success of Ether.Fi’s buyback and liquidity provision (LP) program by introducing a new revenue-sharing mechanism for ETHFI stakers,” wrote the Ether.Fi admin. “The initiative aims to enhance the utility of ETHFI, strengthen its market, and align user incentives with the growth of the Ether.Fi ecosystem”

Only stakers who have been staking ETHFI for at least a month before the distribution date will be eligible for the rewards to encourage long-term staking. Rewards will be distributed according to the percentage of each staker’s ETHFI stake in the total amount of staked ETHFI.

Next Steps

Voting on the proposal has already begun and will last for four days. Users will vote via Snapshot. So far, 99.85% of the community has voted in favor of the proposal, while 0.03% have voted against it, and 0.11% have voted to abstain.

The Ether.Fi community has reacted relatively positively to the proposal, with many users taking to X to post that they voted in favor of the proposal,

In the meantime, Ether.FI’s buyback and LP program will remain active to maintain ETHFI’s liquidity and stabilize its market depth. According to DeFiLlama data, with $9.359 billion, Ether.Fi is Ethereum’s largest restaking platform by total value locked (TVL).