Who Needs an Off-Ramp? Ether.fi Plans Visa Card for Crypto Degens
The “Cash” Visa card from Ether.fi, the liquid restaking startup on Ethereum, might help crypto natives turn their decentralized finance investments into spending money.
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The “Cash” Visa card from Ether.fi, the liquid restaking startup on Ethereum, might help crypto natives turn their decentralized finance investments into spending money.
Perpetual futures markets price the fully diluted value of the token at around $15 billion.
Restaking has taken hold of the Ethereum ecosystem. With Jito and a handful of other companies building for Solana, can the trend spread?
Although it’s actually conservative.
Some 45% of the EIGEN token supply will go towards the EigenLayer community, while investors will be allocated 29.5% of the token supply, and 25.5% will go towards early contributors.
Under its deal with RedStone, Ether.Fi will dedicate $500 million to help secure RedStone’s data oracles, which are used to pass information between blockchains and the outside world.
The “restaking” protocol with $15 billion in deposits won’t pay rewards to depositors and is missing its mission-critical “slashing” feature.
The proposal, initially introduced in February, could harden Ethereum’s native cryptocurrency, ether, as as a form of money – by reducing the inflation of new supply. But some members of the community say if it’s not broke, don’t fix it.
The performance of EtherFi’s token could lift valuations of other restaking platforms ahead of their airdrops, one analyst noted.
Tron founder Justin Sun deposited 120,000 ether worth $480 million into liquid restaking protocol Ether.Fi, according to blockchain data.