Justin Sun Deposits $480M of ETH to Restaking Protocol Ether.Fi

New York Stock Exchange with banner flagging ProShares Bitcoin Strategy ETF on the day it started trading.


Liquid restaking involves staking ether, which helps secure Ethereum, in return for a yield and often also loyalty points that can eventually be converted into a token airdrop. In return for the staked ether, restaking protocols like Ether.Fi distribute a liquid restaking token, in this case eETH, which is pegged to ether’s price. The token can be used on other decentralized finance (DeFi) protocols to earn additional yield.


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