This vault optimizes yields for the Curve weETH/WETH-ng (next generation) pool through Convex Finance. The pool pairs EtherFi's wrapped liquid restaking token (weETH) with WETH, enabling efficient swaps while LPs earn staking and restaking rewards.
weETH (Wrapped eETH): EtherFi's non-rebasing liquid restaking token. Unlike stETH, weETH accumulates value rather than rebasing. It represents:
Underlying ETH stake
Ethereum staking rewards
EigenLayer restaking rewards
EtherFi loyalty points
weETH can be used throughout DeFi while still earning multiple yield sources.
EigenLayer Integration
EtherFi is a liquid restaking protocol built on EigenLayer:
Staked ETH secures Ethereum via staking
Restaked ETH secures additional networks via EigenLayer
Multiple reward streams for restakers
EtherFi points and EigenLayer points accrue to holders
Fee Structure
Standard Convex fees:
16% of CRV rewards
No deposit/withdrawal fees
Risk Disclosures
Smart Contract Risk: Multi-layer exposure including Curve, Convex, EtherFi, and EigenLayer contracts.
Restaking Risk: EigenLayer is a newer system. Slashing from restaked services could affect weETH value.
Validator Risk: EtherFi operates validators. Slashing or operational issues affect weETH.
Depeg Risk: weETH may trade at discount to ETH during market stress.
Complexity Risk: Multiple yield sources create complex risk profile that is difficult to fully assess.
Newer Technology Risk: Liquid restaking is an emerging category with less battle-testing.
Disclaimer: APY and TVL figures are based on on-chain data and may fluctuate. Past performance does not guarantee future results. DeFi investments carry smart contract, market, and liquidity risks. This content is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing.
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