risk managerChaos Labsgovernance.ether.fi
↑EtherFi Cash Debt Manager Risk Analysis
ETHFI, the governance token of EtherFi, offers utility within the Cash product, with expected DEX liquidity to match despite current absence on Scroll.
Overview
Ether.fi(ETHFI)
Token Price$0.35
24h Change+7.65%
All Time HighMar 27, 2024$8.53
All Time LowJun 3, 2026$0.32
Key Metrics
Market Cap$310.81m
Fully Diluted Valuation$352.93m
Circ. Supply880.67m ETHFI
Max Supply1b ETHFI
Outstanding FDV$352.93m
Volume 24h$42.41m
CEX Volume$26.85m
DEX Volume$16.11m
Income Statement for ether.fi
| Q2 2026* | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | |
|---|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $31.03M | $49.35M | $66.11M | $80.85M | $44.25M | $49.36M | $54.88M | $5.74M | $441.71K |
| Management Fees | $49.54K | $0 | $442.08K | $664K | $1.50M | $1.54M | $1.15M | $1.63M | $208.12K |
| stETH Staking Rewards | $22.55K | $112.70K | $206.86K | $332.68K | $1M | $2.52M | $6.25M | $3.85M | $118.41K |
| SSV Staking Rewards | $12.71K | $168.73K | $293.33K | $872.30K | $565.11K | $837.12K | $596.91K | $164.39K | $110.07K |
| EigenLayer Staking Rewards | $2.22M | $3.99M | $6.19M | $8.38M | $5.35M | $6.64M | $6.57M | $89.83K | $5.09K |
| Core ETH Staking Rewards | $21.74M | $37.56M | $51.88M | $65.21M | $35.28M | $37.81M | $40.05M | ||
| Borrow Interest | $143.19K | $191.33K | $125.23K | $40.24K | $4.78K | $198 | |||
| Cash Transaction Fees | $2.13M | $2.29M | $1.73M | $664.82K | $114.80K | ||||
| Obol Staking Rewards | $11.94K | $25.86K | $71.99K | $173.78K | $305.65K | ||||
| Cashbacks | $4.06M | $4.59M | $4.54M | $2.45M | $49.42K | ||||
| Vault Withdraw Fees | $620.06K | $397.9K | $608.35K | $2.04M | $55.92K | ||||
Cost of Revenue | $23.65M | $38.51M | $51.43M | $61.47M | $32.78M | $36.48M | $42.12M | $3.74M | $115.02K |
| stETH Staking Rewards | $21.78K | $108.87K | $200.15K | $322.25K | $978.96K | $2.45M | $6.07M | $3.74M | $115.02K |
| Core ETH Staking Rewards | $19.56M | $33.81M | $46.69M | $58.69M | $31.76M | $34.02M | $36.05M | ||
| Cashbacks | $4.06M | $4.59M | $4.54M | $2.45M | $49.42K | ||||
Gross Profit | $7.37M | $10.84M | $14.67M | $19.38M | $11.47M | $12.88M | $12.54M | $2M | $326.68K |
| Management Fees | $49.54K | $0 | $442.08K | $664K | $1.50M | $1.54M | $1.15M | $1.63M | $208.12K |
| stETH Staking Rewards | $772 | $3.83K | $6.70K | $10.43K | $29.77K | $70.19K | $177.77K | $107.69K | $3.39K |
| SSV Staking Rewards | $12.71K | $168.73K | $293.33K | $872.30K | $565.11K | $837.12K | $596.91K | $164.39K | $110.07K |
| EigenLayer Staking Rewards | $2.22M | $3.99M | $6.19M | $8.38M | $5.35M | $6.64M | $6.57M | $89.83K | $5.09K |
| Core ETH Staking Rewards | $2.17M | $3.75M | $5.18M | $6.52M | $3.52M | $3.78M | $4M | ||
| Borrow Interest | $143.19K | $191.33K | $125.23K | $40.24K | $4.78K | $198 | |||
| Cash Transaction Fees | $2.13M | $2.29M | $1.73M | $664.82K | $114.80K | ||||
| Obol Staking Rewards | $11.94K | $25.86K | $71.99K | $173.78K | $305.65K | ||||
| Vault Withdraw Fees | $620.06K | $397.9K | $608.35K | $2.04M | $55.92K | ||||
Incentives | $0 | $0 | $0 | $2.12M | $986.35K | $8.33M | $41.55M | $100.81M | $67.80M |
| Ethereum ETHFI Claims | $8.33M | $40.80M | $82.63M | $67.80M | |||||
| Arbitrum ETHFI Claims | $668.50K | $17.92M | |||||||
| Base ETHFI Claims | $76.92K | $257.79K | |||||||
| Scroll Cashback | $2.12M | $986.35K | $246.93 | ||||||
Earnings | $7.37M | $10.84M | $14.67M | $17.25M | $10.48M | $4.54M | -$29.01M | -$98.81M | -$67.48M |
Token Holder Net Income | $29.99K | $3.17M | $6.35M | $4.25M | $1.70M | $390K | $473K | $324K | $0 |
| Token Buy Back | $29.99K | $3.17M | $6.35M | $4.25M | $1.70M | $390K | $473K | $324K |
Risk Timeline
Risk-management actions published about ETHFI by tracked risk managers and governance contributors, newest first.
contributor@ether.figovernance.ether.fi
↓Diversification of ETHFI DAO Treasury through Real-World Assets
The treasury is heavily weighted in ETHFI tokens, exposing the DAO to significant volatility and market risk. Selling up to 18 million ETHFI in tranches will fund diversification into more stable assets.
risk managerLlama Riskllamarisk.com
→Legal Risks in EigenLayer and LRT Points Programs
ether.fi's ETHFI airdrop was based on loyalty points from prior engagement, with unclaimed tokens reallocated to treasury; however, points lack inherent value and face strict non-transferability rules, complicating user expectations for rewards.
Markets
Token Rights and Value Accrual
Updated May 06, 2026Overview
- Token(s)
- ETHFIsETHFI
- Token Type
- GovernanceUtility
- Utility
- Staking
ETHFI is the governance and utility token of Ether.fi, allowing holders to stake for a share of monthly protocol revenue from staking and restaking activities, vote on incentives and ecosystem support.
Governance Rights
ControlCan vote on grants, parameters, protocol fees, controller, contract and various other protocol upgrades, treasury diversification activities
Governance Decisions
ETHFI
Treasury Decisions
ETHFI
A portion of protocol & re-staking rewards are directed toward DAO treasury, token holders can vote on treasury diversification activities.
Revenue Decisions
ETHFI
Token holders can vote on economic parameters including protocol fees.
Fee Switch
ON100% of eETH withdrawal fee revenue is allocated to weekly ETHFI buybacks and remitted directly to sETHFI holders. A portion of revenue generated across products is allocated for ETHFI buybacks on a monthly cadence, and is distributed to sETHFI holders.
Resources
Foundation Multisigs / Addresses
0x7A6A41F353B3002751d94118aA7f4935dA39bB53
DAO Treasury Dashboarddune.com
Primary Value Accrual
BuybacksValue accrues through buybacks, bought back tokens are remitted to sETHFI holders.
Equity Statement
The ether.fi Foundation exists to oversee and carry out the decisions of the ETHFI token holders, and to steward the treasury and protocol. Investors received 33% of the token supply.
Economic Rights
Value Capture100% of eETH withdrawal fees go to weekly buybacks, remitted to sETHFI holders. A portion of protocol revenue is allocated for monthly buybacks. All buyback-derived ETHFI is redistributed to sETHFI holders.
Buybacks
ETHFIsETHFI
Portion of protocol revenue is used to buy back ETHFI and distributed to sETHFI holders
Dividends
sETHFI
Revenue is indirectly distributed to sETHFI holders through buyback distributions
Burns
N/ANo burn mechanism is currently active
Ownership
- Fundraising
- Token Sale
- Equity Revenue Capture
- No
- Associated Entities
- Labs (DevCo)DAO
- IP & Brand
- Ether.fi SEZC
- Domain
- Ether.fi SEZC
Token Usage
An is required to view token usage.
Unlocks
An is required to view token unlocks.
Yields
Tracking 10 pools, average APY 41.12%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabETH-ETHFI1.00% | $641,613 | 75.86% | 75.86% | 27.11% | |||||
| open in new tabWETH-ETHFIvolatile - 0.3% | $160,140 | 0% | 0% | ||||||
| open in new tabETH-ETHFI0.30% | $106,455 | 23.73% | 23.73% | 9.27% | |||||
| open in new tabETH-ETHFI1.00% | $105,837 | 0% | 0% | 0% | |||||
| open in new tabWETH-ETHFICL100 - 0.05% | $90,587 | 0% | 0% | ||||||
| open in new tabETHFI-WETH | $81,916 | 17.85% | 17.85% | 6.48% | |||||
| open in new tabWETH-ETHFI0.3% | $63,327 | 57.57% | 57.57% | 18.19% | |||||
| open in new tabETHFI-WETH0.3% | $29,403 | 65.08% | 65.08% | 21.64% | |||||
| open in new tabWETH-ETHFI1% | $17,717 | 4.40% | 4.40% | 1.80% | |||||
| open in new tabWETH-ETHFICL200 - 0.27% | $12,257 | 43.34% | 17.99% | 34.46% |