<\/p>\n
\u2018deVamp\u2019 offers instant eETH liquidity and loyalty points to incentivize EigenLayer restakers to swap out of stETH, cbETH and wBETH.<\/p>\n
Liquid restaking protocol EtherFi has launched<\/a> \u2018deVamp\u2019 in a bid to incentivize users to swap their existing Eigenlayer deposits for its eETH liquid restaking token (LRT).<\/p>\n Users that restaked Lido\u2019s stETH, Coinbase\u2019s cbETH, and Binance\u2019s wBETH on Eigenlayer<\/a> can now instantly swap their deposits into liquid eETH, avoiding the 7-day delay on withdrawals put in place by the highly anticipated restaking protocol.<\/p>\n With deVamp, users will receive 3,000 loyalty points per restaked ETH migrated into eETH.<\/p>\n Additionally, holders of these liquid staking tokens (LSTs) can swap them for eETH and earn points on the deVamp website<\/a>. Traders will be exempt from paying trading fees and earn 2,000 points per ETH.<\/p>\n <\/p>\n The move comes at a time of increasing controversy over large Ethereum staking pools. Lido Finance commands 33% of all staked ETH, along with nearly 75% of on-chain liquid staking, as per DefiLlama<\/a>. It is followed from afar by RocketPool, which accounts for less than 3% of all staked ETH.<\/p>\n EtherFi has also committed to supporting minority clients, after a bug found in the Nethermind client sounded the alarm<\/a> on Geth\u2019s 84% lead in all software run on Ethereum<\/a> nodes.<\/p>\n Participants in deVamp will receive Vamp Badges, whereas those trying to game the system by depositing and immediately withdrawing will receive a sad pepe Quitter badge with a penalty of 4,000 points upon withdrawal.<\/p>\n To quell any possible abuse of deVamp, the platform is initially capped at 1,000 ETH.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" \u2018deVamp\u2019 offers instant eETH liquidity and loyalty points to incentivize EigenLayer restakers to swap out of stETH, cbETH and wBETH. Liquid restaking protocol EtherFi has launched \u2018deVamp\u2019 in a bid to incentivize users to swap their existing Eigenlayer deposits for its eETH liquid restaking token (LRT). Users that restaked Lido\u2019s stETH, Coinbase\u2019s cbETH, and Binance\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":235287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-235286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/235286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=235286"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/235286\/revisions"}],"predecessor-version":[{"id":235289,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/235286\/revisions\/235289"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/235287"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=235286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=235286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=235286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}