EtherFi said users will be able to make payments anywhere worldwide with the card.<\/p>\n
EtherFi, the leading Ethereum restaking protocol, has announced plans to launch a credit card linked to users\u2019 restaked ETH holdings.<\/p>\n
Announced on May 23, the EtherFi Cash will comprise a Visa credit card integrated with a mobile wallet.\u00a0Payments are executed\u00a0either\u00a0by swapping a portion of users\u2019 holdings into USDC,\u00a0or\u00a0by\u00a0borrowing a sum of USDC against their EtherFi portfolio.\u00a0Interest accrued can also\u00a0be paid down\u00a0using the rewards earned from users\u2019 eETH holdings.<\/p>\n
Reliance on TradFi payment rails is still a\u00a0major\u00a0censorship risk and a usability nightmare,\u201d EtherFi\u00a0said<\/a>. \u201cCash is the third in our Trilogy of products \u2014\u00a0ether.fi Stake,\u00a0ether.fi Liquid, and\u00a0ether.fi Cash. Combined,\u00a0these\u00a0integrated products help users save, invest, and spend their crypto, making it so that users never have to off-ramp again.\u201d<\/p>\n EtherFi added that the card can\u00a0be used\u00a0\u201canywhere in the world.\u201d<\/p>\n The news comes as EtherFi\u00a0is cementing\u00a0its position as a top DeFi protocol.<\/p>\n EtherFi currently ranks seventh by total value locked with a TVL of $5.66 billion after growing nearly 50% in the past 30 days, with the growth buoyed by ETH rallying more than 27% in the past week amid renewed\u00a0spot Ether ETF bullishness<\/a>.<\/p>\n EtherFi kicked off the recent\u00a0liquid restaking token (LRT) boom<\/a>.\u00a0The protocol eliminates the technical barriers to users participating in native restaking via\u00a0EigenLayer<\/a>, while also enabling\u00a0them to remain\u00a0liquid.\u00a0Restaking allows users to earn additional yields by delegating their staked\u00a0Ether\u00a0to secure third-party protocol while\u00a0simultaneously\u00a0securing the Ethereum blockchain.<\/p>\n LRT protocols now boast a combined TVL of $14B, according to DeFi Llama. Renzo is the second-largest LRT project\u00a0with\u00a0$3.93 billion, followed by Puffer Finance\u00a0with\u00a0$1.79 billion.<\/p>\n Mike Silagadze, the founder of EtherFi, described the launch of Cash as a critical component of the project\u2019s mission to remove the technical friction associated with on-chain finance and open the door to mainstream adoption.<\/p>\n \u201cOver time, protocols are going to provide a suite of integrated products and abstract away the complexities of DeFi\u00a0including\u00a0chains, derivatives, and strategies,\u201d Silagadze said. \u201cThey are going to resemble consumer products that focus on bringing value to the user.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" EtherFi said users will be able to make payments anywhere worldwide with the card. EtherFi, the leading Ethereum restaking protocol, has announced plans to launch a credit card linked to users\u2019 restaked ETH holdings. Announced on May 23, the EtherFi Cash will comprise a Visa credit card integrated with a mobile wallet.\u00a0Payments are executed\u00a0either\u00a0by swapping […]<\/p>\n","protected":false},"author":2,"featured_media":308104,"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-308101","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\/308101","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=308101"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/308101\/revisions"}],"predecessor-version":[{"id":308105,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/308101\/revisions\/308105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/308104"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=308101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=308101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=308101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}EtherFi\u2019s rise<\/h2>\n