Bankless: How to Participate in Restaking with ether.fi?
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Bankless: How to Participate in Restaking with ether.fi?
ether.fi effectively streamlines the native restaking process into a single deposit procedure.
Navigating Web3 tides with focused insightsAuthor: William M. Peaster, Bankless
Translation: Luccy, BlockBeats
Editor's Note: Recently, the narratives around LSTs and LRTs have gained significant traction in the Ethereum ecosystem. William M. Peaster, Senior Writer at Bankless and creator of Metaversal, explores why restaking is becoming a mainstream trend in crypto, diving into the opportunities and challenges through case studies. William primarily highlights a new restaking project called ether.fi, detailing its dual-points strategy—where points may qualify users for potential airdrops. BlockBeats presents the full translation below:
Lately, liquid staking tokens (LSTs) have been all the rage around Ethereum.
You've likely heard of the major players—Lido (stETH), Rocket Pool (rETH), and Coinbase (cbETH). These LSTs allow users to maintain liquidity while earning ETH staking rewards, without needing to run their own validator setups.
The basic promise? Deposit ETH to receive an LST representing your deposit, then hold or use that LST freely—all while it gradually accrues ETH yield over time.
Many platforms have risen by following this model, but currently, within the LST space, "restaking" is generating tremendous excitement—a concept popularized by EigenLayer. Restaking leverages LST deposits to offer extended validator services for projects seeking external security infrastructure.
It’s a win-win: depositors earn both ETH staking yields and additional validation income from projects building on EigenLayer, while those projects gain access to Ethereum’s decentralization and security without having to build their own trust networks.
So what's the catch? At this early stage, EigenLayer has set deposit caps on LSTs, and each time the cap has increased, it’s quickly reached. This isn’t surprising given the massive anticipation around a future EigenLayer airdrop.
Here's the good news: there’s a workaround. EigenLayer also supports native restaking—the ability to deploy actual validators directly through EigenLayer—and notably, this method has no deposit cap.
Even better? Some projects are simplifying this process further, effectively turning native restaking into a single-deposit experience. One such project to watch is ether.fi.
Launched in 2023, ether.fi created eETH—an LST that natively restakes its underlying ETH deposits via EigenLayer. Beyond earning staking yield and the ability to use eETH across DeFi, this setup allows depositors to simultaneously accumulate both ether.fi loyalty points and EigenLayer restaking points—both of which could factor into potential airdrop eligibility.
Pretty interesting, right?
The best part? Taking advantage of this opportunity is incredibly simple. Just deposit ETH (minimum = 0.001 ETH) to mint eETH at a 1:1 ratio, and your eETH balance will begin accumulating points immediately. Here’s how:
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Go to app.ether.fi
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Connect your wallet
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Enter the deposit amount you’d like in the UI
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Click “Stake”
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Sign the staking transaction with your wallet
And that’s it—that’s all it takes to start using ether.fi’s dual-points strategy. Remember, you can unstake and withdraw your ETH through the same interface—just click the central arrow button in the app to switch into “Withdraw” mode and get started.
As for tracking your points, you can monitor both your ether.fi and EigenLayer scores anytime via the app.ether.fi/portfolio page. Ether.fi points are calculated as ETH staked × 1,000 × number of staking days—for example, staking 1 ETH for one week earns you 7,000 points.
No matter what happens next in crypto, restaking is here to stay—so don’t overlook “double-dip” restaking opportunities like ether.fi, where you can maximize your returns from a single deposit.
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