ETHFI is the governance token for the ether.fi protocol and DAO. It is different from ETH and from ether.fi’s liquid-staking assets, including eETH and weETH; owning ETHFI alone does not deposit ETH or earn validator rewards.
| Stat | Value |
|---|---|
| Ticker | ETHFI |
| Price | $0.6959 |
| Market Cap | $671.534M |
| 24h Change | +1.20% |
| Circulating Supply | 965.35M ETHFI |
| Max Supply | 1B ETHFI |
| All-Time High | $8.53 |
| Contract (Ethereum) | 0xfe0c...c0eb |
| Contract (Scroll) | 0x056a...bd81 |
| Contract (Base) | 0x6c24...2aa2 |
| Contract (Arbitrum One) | 0x7189...dc27 |
How It Works
ether.fi offers Ethereum staking products that issue liquid representations such as eETH and weETH, and it also provides restaking-related services. These products can expose users to validator, smart-contract, liquidity, slashing and third-party strategy risks. ETHFI serves the governance side of the ecosystem. The exact rights and product mechanics can differ by vault, token and current protocol rules, so an eETH or weETH balance should not be described as a direct claim on ETHFI governance or as risk-free ETH.
Tokenomics
Official ether.fi governance material describes ETHFI as a fully minted token with a fixed 1 billion supply. CoinGecko listed about 965.35 million circulating ETHFI in the snapshot checked on 2026-10-21; circulating figures can change as allocations unlock. ETHFI is used in governance and the protocol documents staking-related participation. Its published buyback program describes using eETH withdrawal fees and portions of protocol revenue for ETHFI purchases, with distribution mechanics involving sETHFI holders. A separate 2025 forum proposal discussed treasury-funded buybacks below a price threshold, but a proposal thread is not proof of approval or current execution. Buybacks do not guarantee price support, income or redemption value.
Use Cases
ETHFI can be used to participate in ether.fi DAO governance and the protocol’s documented staking or membership programs. eETH and weETH instead represent liquid-staking positions, while restaking routes can add further dependencies and risks. Users should confirm current contract addresses, supported networks, lockups and voting rules before acting; protocol interfaces and governance decisions can change.
History
ether.fi launched its ETHFI token in 2024 alongside a broader staking and restaking ecosystem. The protocol expanded from liquid staking toward additional products and DAO-managed treasury programs. As those features developed, the token’s governance and buyback descriptions also changed. Older pages that attribute a fixed percentage of the token to a particular category or promise a particular buyback should be checked against current official governance material.
Common Misconceptions
ETHFI is not the same as eETH or weETH, and ETHFI holders do not automatically receive Ethereum staking rewards. Restaking does not remove validator or smart-contract risk; it can add new operators, protocols and slashing conditions. A published buyback program or historical treasury proposal is not a guaranteed floor for ETHFI’s price and should not be treated as a promised yield. Market capitalization and circulating-supply estimates are snapshots, not statements of individual ownership rights.
Social Media Sentiment
An ether.fi DAO forum proposal posted on October 30, 2025 discussed using treasury funds for ETHFI buybacks below a stated price threshold. Some replies supported the idea, while another asked for clearer execution plans, timing, liquidity assumptions and safeguards against serving as investor exit liquidity. This was a small governance discussion around a proposal, not a representative survey; the post alone does not establish whether the proposal was approved or what the current program does. direct discussion.
Last updated: 2026-10
Related Terms
See Also
- What Is Restaking?
- Is Ethereum Staking Centralized?
- What Is Tokenomics?
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Sources
- ether.fi: ETHFI governance and utility — describes ETHFI governance, staking participation and the current allocation overview.
- ether.fi governance: ETHFI allocations — documents the fixed token supply and vesting information.
- ether.fi governance: ETHFI buyback program — describes the documented fee and revenue mechanisms used for buybacks and distributions.
- ether.fi DAO treasury buyback proposal — a dated proposal and reply thread used as a limited example of community debate, not proof of approval.
- CoinGecko ETHFI market profile — provides the dated price and circulating-supply snapshot shown in the table.