> For the complete documentation index, see [llms.txt](https://etherfi.gitbook.io/etherfi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://etherfi.gitbook.io/etherfi/archive/king-protocol-historical-reference.md).

# King Protocol (Historical Reference)

{% hint style="warning" %}
**This section is archived.** KING tokens are no longer used for rewards — ether.fi has transitioned to a direct EIGEN → ETH rebasing model, and balances grow automatically with no claims required. This page is kept for historical reference only.
{% endhint %}

## Current Reward Mechanism

Starting **January 2026**, ether.fi has fully transitioned to the **new EIGEN → ETH rebasing flow**:

* Weekly EIGEN rewards are **automatically converted to ETH** and deposited into the LST liquidity pool.
* Rewards are reflected in **rebasing of eETH/weETH**.
* No claims, KING tokens, or unwrapping are required—users simply hold their tokens and balances grow automatically.

## How ether.fi previously used King Protocol (Historical Reference)

* eETH/weETH holders earned restaking rewards in the form of KING tokens.
* Rewards were distributed weekly on a linear basis.
* Users could unwrap KING into underlying assets (e.g., EIGEN and ETHFI) at equivalent dollar value.
* Additional ETHFI rewards were occasionally added to the pool to supplement distributions.

> This is **historical reference only**. Users no longer accrue KING tokens.

## **About** King Protocol

King Protocol was designed to simplify restaking reward distribution by tokenizing rewards earned when restaking.

Previously:

* Rewards from multiple restaking protocols could be pooled into a single vault.
* Vault shares (KING tokens) were issued to stakers, representing a proportional claim on the underlying rewards.
* This system reduced transaction costs and simplified rewards management, especially for small stakers.
* Larger stakeholders could redeem and arbitrage, influencing the market price of KING.

> ⚠️ **Important:** KING tokens are no longer used for rewards. The protocol has transitioned to a **direct ETH + rebasing model**, as described below.

You can read historical King Protocol documentation here: <https://docs.kingprotocol.org>

{% embed url="<https://docs.kingprotocol.org/faq.html>" %}

{% embed url="<https://docs.kingprotocol.org/distribution.html>" %}


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://etherfi.gitbook.io/etherfi/archive/king-protocol-historical-reference.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.