ether.fi ETH (eETH) is a liquid restaking token that stakes ETH and restakes it through EigenLayer using non-custodial node operators, earning Ethereum staking rewards plus additional restaking yield. It is the rebasing base token behind the more widely integrated weETH wrapper. eETH scores 57/100 (Tier 3) on the RWTS Trust Score: a non-custodial operator model and growing adoption, set against the added slashing surface that restaking introduces on top of normal staking and a redemption path that runs through a seven-day unbonding queue. The return reflects combined staking and restaking rewards.
- Issuer / protocol
- ether.fi
- Backing
- Staked ETH + EigenLayer restaking via non-custodial operators
- Redemption / lock-up
- 7-day unbonding queue for native ETH redemption
- Audit & proof of reserves
- Independently audited
- Availability
- Global
- Chain
- Ethereum
- Tier
- Tier 3 — Secured DeFi
- Contract
- 0x35fA…8ac2
Scored on the published RWTS methodology (v1.1), reviewed quarterly and on material events. Ratings are independent and never pay-influenced.
Calculations are indicative. Actual yields may vary.
Price data from CoinGecko. Not financial advice.
Current yield of 2.31% sits at -29% of the observed range. There may be room for rates to improve.
Projections assume constant APY of 2.31%. Actual returns may vary. Not financial advice.
Largest liquid restaking token by TVL. Combines ETH staking yield with EigenLayer AVS restaking rewards. Non-custodial node operator model with decentralized validator distribution. T3 placement reflects underlying ETH staking; restaking layer captured as additive risk in flags.
Methodology v1.0 · independent rating · published rubric · no issuer payments
Backed 1:1+yield by ETH staked on Ethereum PoS plus optional restaking via EigenLayer AVS network. Non-custodial operator model: stakers retain key custody. Validator staking per rubric tier with restaking risk noted in flags.
Staked ETH verifiable on Beacon Chain; restaking allocations visible on EigenLayer; ether.fi publishes monthly transparency reports; on-chain transparency framework.
7-day unbonding queue for native ETH redemption; deep secondary market liquidity (weETH wrapper widely integrated across DeFi) for instant near-par exit.
Multiple smart contract audits (Certik, Solidified, others); active Immunefi bug bounty; security operations matured rapidly with TVL growth.
ether.fi is Cayman Islands registered entity with published terms; partially regulated framework; clear legal structure.
Live since March 2024 (~14 months as of May 2026). No material incidents specific to eETH. Liquid restaking as a category is newer than liquid staking; restaking-specific risks not yet stress-tested at scale during adversarial AVS event.
RESTAKING_ADDITIONAL_RISKeETH includes EigenLayer restaking exposure on top of base ETH staking. Restaking introduces additional slashing surface area (AVS-specific) and counterparty exposure to actively validated services. Risk profile is structurally additive vs pure liquid staking (e.g., wstETH, rETH).
WITHDRAWAL_QUEUE_7DAYSNative ETH redemption uses 7-day unbonding queue; deep secondary market liquidity available for instant exit at near-par.
Caveats document operational realities that don't change the dimensional score but shape practical use.
Beyond eETH's own score, two structural questions matter: what is it built on, and what has broken before in this part of the market. A high score in isolation can still carry hidden, shared exposure.
Restaking stacks AVS-specific slashing on top of base ETH staking, so a contract or slashing event at the restaking layer hits every LRT built on it at once. This is also where 2026's largest DeFi hack happened (Kelp rsETH, roughly $290M).
See the full chain →What this and similar assets are built on, and where contagion could spread.
The depegs, defaults, and exploits that inform the Track Record dimension.
Liquidity read: TVL of $4.75B indicates deep on-chain liquidity. Lock-up: 7-day unbonding queue for native ETH redemption.
Is eETH safe?
eETH (ether.fi ETH) scores 57/100 on the independent RWTS Trust Score, which places it in Secured DeFi (Tier 3). Tier 3 carries real DeFi exposure: the backing is sound but smart-contract and collateral risk are live, so size positions accordingly. Backing: Staked ETH + EigenLayer restaking via non-custodial operators. It is independently audited. The score reflects backing, verification, redeemability, audit, regulatory standing, and track record, not headline yield. We rate. You decide.
Compare eETH
Head to head on the Trust Score with similar assets.