Integrations - Points

March 16 update: The below information relates to season 1, however these points will continue to accrue for season 2. Stay tuned for more on season 2 after March 18th.

Users who provide liquidity and deposit in particular pools that the protocol has integrated have the opportunity to earn yield from those protocols, while still accruing ether.fi loyalty points and EigenLayer points. Below is a breakdown of the pools supported along with a how to of how to deposit to ensure rewards are earned.

Current protocol integrations with points tracking

Pendle

The yield market on Pendle can be largely separated into 3 positions for eETH:

Liquid lockers for Pendle enables users to enjoy boosted Pendle rewards by providing liquidity without needing to hold any vePENDLE, while continuing to earn both ether.fi loyalty points and EigenLayer points.

1. PT-eETH

PT = principal token representing the principal only at maturity.

This strategy consists of depositing your eETH into the Pendle protocol for a fixed duration, and earning a fixed yield at maturity. In this scenario you’re earning staking yield (~27% at time of writing) for the duration of your deposit. Note that this strategy does not earn you EiegenLayer and Ether.fi points. You are simply locking in a fixed yield in ETH.

In the image above, 1 ETH enables you to purchase 1.0979 PT. In other words, you’re foregoing points for a guaranteed 9.79% return until maturity. At the time of writing, that translates to ~27.18% APY. Note: PT is not locked, you can sell PT at any time at the market rate

2. eETH-LP

By providing liquidity to the pool, you will be getting a yield burger.

Ether.fi Loyalty points
EigenLayer Points
ETH staking yield
Swap fees
Pendle incentives
PT eETH fixed yield.

The LP position consists of PT-eETH + SY-eETH. SY portion earns yield. This is also single asset exposure, meaning IL is minimal. The ratio of PT-eETH and SY-eETH in LP can be checked here.

Note: The ratio of LP is always changing.

Zero Price Impact Mode Enabled:

To maximize point earnings (EigenLayer and ether.fi points) without participating in liquid lockers, enable zero price impact when zapping in.

If zero price impact mode is enabled, a portion of eETH (SY-eETH) will be converted to YT-eETH and a portion of eETH (SY-eETH) will be converted to PT-eETH to create LP-eETH (PT-eETH/SY-eETH) SY-eETH and YT-eETH can earn points. You will earn Etherfi Loyalty points and Eigenlayer points from the amount (SY-eETH + YT-eETH). It will be 2x Etherfi Loyalty points point and 1x Eigenlayer point from amount eETH you deposit to create LP on Pendle.

Zero Price Impact Mode Disabled:

The eETH LP is a SY/PT position. With this mode disabled, zapping into Pendle converts a portion of your eETH (or SY-eETH) into PT-eETH to LP. The YT-eETH are sold for equivalent amounts of PT/SY to be LP-ed. This increases your LP, in turn you will lose YT therefore reducing your points earnings to no more than 1x Etherfi loyalty points and no more than 0.5x Eigenlayer points from amount eETH (or YT-eETH) you deposit on Pendle (with boost x2 Etherfi loyalty points and 1x Eigenlayer points on Pendle)

Regarding the 1x Etherfi loyalty points and no more than 0.5x Eigenlayer points - The ratio of PT-eTH and SY-eETH (eETH) in LP is always changing, so amount of SY-eETH (eETH) in LP will always change therefore the points you earn will change. Points earned will not be fixed

Note that depositing this position into a liquid locker increases your Etherfi Loyalty points earnings will get a boost of 3.5x (Eigenlayer points do not get boost)

For further reading - see Pendle doc's here

3. YT-eETH

This is where things get interesting. Enter leveraged points. YT is the yield token (for points and yield), representing the yield of the underlying asset until maturity.

Every 1 YT-eETH you own will stream all the yield and points generated by 1 eETH to you until maturity. At the current time of writing, every 1 eETH gives you yield and points exposure to a 11.18 eETH position. The price of YT is subject to market rates depending on how the market values it.

Note: YT is not locked, you can sell YT at any time at the market rate

This is where points speculations comes into play when determining if YT is priced correctly, which is not for discussion here. Normally, you look at the long yield APY to determine the price you’re willing to pay. But again, in this case with eETH, there are other factors to consider such as Ether.fi loyalty points and EigenLayer points.

Degen responsibly.

Liquid Lockers

When a users deposits their LP position into a liquid locker, they continue to earn EigenLayer points at ~1x and ether.fi points at ~2x.

Liquid lockers currently integrated into ether.fi's point tracking are listed below:

Equilibria

Penpie

Stakedao - coming soon. This locker is not currently retroactively being tracked.

acknowledgements to Pendle Intern for the thread work in helping to construct the above

Bribe Pools

Penpie

We are currently tracking ether.fi points for the Penpie Bribe Pools on Ethereum. We are also tracking points off-chain for Arbitrum, and they will be retroactively rewarded. Learn more about this pool here.

Equilibria

We are currently tracking ether.fi points for the Equilibria Bribe Pools on Ethereum. Learn more about this pool here.

Morpho Blue

We have integrated with Morpho Blue to allow users to deposit weETH as collateral to borrow ETH. This can be done here. Points are tracking on ether.fi.

Points are tracked as follows:

The weETH deposited as collateral will continue to earn ether.fi points at 1x and Eigenlayer points at 1x. It would be the same as holding weETH.
Looping is permitted. Points will accrue based on the deposited collateral.
The ether.fi protocol and Morpho Blue have provided USDC and Morpho incentives to the supply side of the market; however, to further incentivize, 1x ether.fi points will be awarded for supplying ETH. They will accrue at the same value as holding weETH. Note that EigenLayer points are not earned for supplying ETH.

We encourage users who want to learn more to refer to the Morpho Blue AdaptativeCurveIRM.

Silo

We have integrated with Silo to allow users to deposit weETH as collateral to borrow ETH. This can be done here. Points are tracking on ether.fi.

This is a symmetric market, meaning usesrs can deposit weETH and borrow ETH, and vice versa.

Points are tracked as follows:

The weETH deposited as collateral will continue to earn ether.fi points and EigenLayer points proportional to the amount of weETH in the deposit contract. As this is a symmetric market, users can deposit ETH and borrow weETH, which reduces the supply side of weETH.
Looping is permitted. Points will accrue based on the deposited collateral as above.
Both the ether.fi and Silo protocols have provided Silo incentives to the supply side of the market; however, to further incentivize, 1x ether.fi points will be awarded for supplying ETH. They will accrue at the same value as holding weETH. Note that EigenLayer points are not earned for supplying ETH.

Additionally, we are tracking points for the weETH-ETH-USDC pool on Silo on Arbitrum. Points are currently tracking and will be retroactively rewarded.

Curve

Points: Ether.fi Loyalty Points and EigenLayer Points

**Update** Points earned on the weETH-rswETH pool are accruing in the database and will be shown retroactively on the front end for deposits.

We have integrated LP tracking with the weETH/WETH pool deployed on Curve. Link here. This tracking has been designed for users to continue to earn EigenLayer points while being able to provide liquidity to the pool and earn the yield associated with the pool.

EigenLayer points are awarded based on your weETH/rswETH position in the pool, the pool receives EigenLayer points based on the tokens you hold in it and the ratio of the pool, these are split between ether.fi and Swell.

For your weETH position, you will receive EigenLayer points from ether.fi which can be viewed on the ether.fi dashboard at https://app.ether.fi/
For your rswETH position, you will receive EigenLayer points from Swell which can be viewed on their app, https://app.swellnetwork.io/

EigenLayer points awarded from both protocols combined should cover the total value locked in this pool.

either.fi loyalty points are awarded based on your weETH holdings in the pool, and then boosted 2x. As is the case with any other liquidity pool, loyalty points can fluctuate based on the total amount of weETH in the pool.

Action required to stake in the pool

Stake your ETH with ether.fi and wrap your eETH to weETH. weETH is the non-rebasing token that has been designed for DeFi.
Go to the DeFi tab and click the link that takes you directly to the Curve pool.

Once on the Curve pool page, connect your wallet and deposit the amount of weETH and WETH that you would like. Note the below has just been shown for illustrative purposes. This position will continue to earn ether.fi loyalty points and EigenLayer points.

After you deposit your assets, you can then stake the LP token to earn the emissions provided by the pool.

You’re now staked in the Curve pool earning LP rewards, EigenLayer points, and boosted ether.fi Loyalty points

Share based pool - Points earnings

You may notice a discrepancy in ether.fi Loyalty Points and Eigenlayer points. This is due to the fact that when you deposit to the curve pool, you receive a weETH/WETH Curve liquidity pool token representing your share of the total pool, meaning you no longer solely hold the weETH or WETH contributed, rather your current holdings represent your share of all assets in the pool. For example, say you deposited 10 weETH and no WETH, and after doing so, the pools is composed of 40 weETH and 60 WETH. As a result, you now own ~10% of the pool (10/100) assuming weETH to WETH is priced 1:1 (which is an assumption made solely for illustrative purposes). In this scenario you will only earn EigenLayer and ether.fi points on 10% of the weETH in the pool (40*10%). To put it another way, you earn points proportional to the amount of pool tokens u hold. If you hold x pool token and there’s 10x total pool tokens then you will earn 1/10 the EigenLayer points and loyalty pts the pool is accruing.

Balancer

ezETH/rswETH/weETH Pool:

Points: Ether.fi Loyalty Points and EigenLayer Points

We have integrated LP tracking with the weETH/rETH liquidity pool deployed on Balancer. Link here

This tracking has been designed for users to continue to earn EigenLayer points while being able to provide liquidity into the pool and earn the yield associated with the pool. In addition, the protocol is also offering boosts on ether.fi loyalty points, Rezno loyalty points, and Swell loyalty points.

Points earned will be 1x on eETH deposited in the pool proportionally.

Direct access to the pool will soon be available on the ether.fi dashboard.

weETH - rETH Pool:

Points: Ether.fi Loyalty Points and EigenLayer Points

We have integrated LP tracking with the weETH/rETH liquidity pool deployed on Balancer. Link here

Action required to stake in the pool

Stake your ETH with ether.fi and wrap your eETH to weETH. weETH is the non-rebasing token that has been designed for DeFi.
Go to the DeFi tab and click the link that takes you directly to the Balancer pool

Once on the Balancer pool page, connect your wallet and click “add liquidity” and add the amount of weETH and rETH that you would like. This position will continue to earn ether.fi loyalty points and EigenLayer points.

After you deposit your assets, you can then stake to the pool to earn the emissions provided by the pool. Note that instead of staking your BPT to this gauge, you can also stake on Aura instead. See below for information on Aura

You’re now staked in the Balancer pool earning LP rewards while decentralizing Ethereum with weETH and rETH, earning EigenLayer points, and earning boosted ether.fi Loyalty points.

Share based pool - Points earnings

You may notice a discrepancy in ether.fi Loyalty Points and Eigenlayer points. This is due to the fact that when you deposit to the Balancer pool, you receive a weETH/rETH Curve pool token representing your share of the total pool, meaning you no longer solely hold the weETH contributed, rather your current holdings represent your share of all assets in the pool. For example, say you deposited 10 weETH and no rETH, and after doing so, the pools is composed of 40 weETH and 60 rETH. As a result, you now own ~10% of the pool (10/100) assuming weETH to rETH is priced 1:1 (which is an assumption made solely for illustrative purposes). In this hypothetical scenario you will only earn EigenLayer and ether.fi points on 10% of the weETH in the pool (40*10%). To put it another way, you earn points proportional to the amount of pool tokens u hold. If you hold x pool token and there’s 10x total pool tokens then you will earn 1/10 the EigenLayer points and loyalty pts the pool is accruing.

Aura

ether.fi has also integrated with Aura, allowing users to take their weETH/rETH BPT and continue to earn ether.fi loyalty points at a 2x boost and normal EigenLayer points. After staking to the Balancer pool mentioned above, simply take that position and go here and stake the amount of the BPT based on your preference.

Maverick

Points: Ether.fi Loyalty Points and EigenLayer Points

We have integrated LP tracking for the following pools deployed on Maverick:

This tracking has been designed for users to continue to earn EigenLayer points while being able to provide liquidity into the pool and earn the yield associated with the pool. In addition, we are also offering boosts on ether.fi loyalty points!

Action required to stake in the pool

Stake your ETH with ether.fi and wrap your eETH to weETH. weETH is the non-rebasing token that has been designed for DeFi.
Go to the DeFi tab and click the link that takes you directly to the Maverick pools.

Once on the Maverick pool page, connect your wallet and deposit the amount of weETH and ETH. This position will continue to earn ether.fi loyalty points and EigenLayer points.

Guide here on adding liquidity to Maverick

Note that there is the “auto stake” option for your deposit. This will allow you to stake to the pool to earn the emissions provided by the pool.

You’re now staked in the Maverick pool earning LP rewards, EigenLayer points, and boosted ether.fi Loyalty points.

You may notice a discrepancy in ether.fi Loyalty Points and Eigenlayer points. This is due to the fact that when you deposit to the Maverick pool you hold a concentrated liquidity position, and the composition of this position can move from 0% to 100% weETH depending on the price and trading in the pool. If you want to make sure you continue to earn points you should either contribute just one side (weETH) or a wide position so the price doesn't move outside their range More information can be found here regarding your position balances.

Gravita

Points: Ether.fi Loyalty Points and EigenLayer Points

We have integrated tracking on Vessels on Gravita.

This tracking has been designed for users to continue to earn EigenLayer points while being able to provide borrow GRAI against their weETH. In addition, we are also offering boosts on ether.fi loyalty points!

We are currently tracking points live on the dashboard for Gravita on Ethereum, and tracking points off-chain for Gravita on Arbitrum. Points earned from the Arbitrum vessel will be rewarded retroactively.

Action required to open up a vessel

Stake your ETH with ether.fi and wrap your eETH to weETH. weETH is the non-rebasing token that has been designed for DeFi.
Go to the DeFi tab and click the link that takes you directly to the Gravita Vessel.

Once on the Gravita page, you can connect your wallet and deposit the amount of weETH that you would like. This weETH deposited will continue to earn ether.fi loyalty points and EigenLayer points.

Term Finance

Term finance is a fixed rate lending platform that allows users to use tokens as collateral to borrow ETH or USDC.
The partnership between ether.fi and Term will allow users to borrow ETH against their eETH liquid restaking tokens.
- The mechanism of matching lenders and borrowers and determining the interest rate is timed auction.
- Borrowers specify the amount of eETH they want to provide as collateral, and the amount of ETH they want to borrow, along with the maximum interest rate they are willing to pay..
- Lenders specify the amount of ETH they are willing to lend and the minimum interest rate they are willing to accept.
- When the auction time runs out a clearing interest rate is determined and the pool runs for a predetermined time - in this case for 1 month.
- Something to keep in mind as a borrower is that you can borrow ETH at a certain rate and stake it into eETH, and then deposit that eETH into Pendle for as much as 25% APR - so it’s reasonable to expect that there will be some arbitrage taking place.

Points will be awareded as follows:

Borrowers who supply eETH as collateral will continue to earn ether.fi and EigenLayer points as normal.
It may take a few days for points to show up on the ether.fi portfolio page, but points are being tracked and will be properly awarded from day one.
Lenders will also earn ether.fi points at the same rate as if they were holding eETH (i.e. 1000 points per day per 1 ETH lent.)
This makes the Term integration unique in that users can earn ether.fi points and an interest rate on their ETH.
Of course this opens up the possibility of leveraged ether.fi and EigenLayer staking, by providing eETH as collateral and then staking the borrowed ETH back into eETH allowing users to double the number of points they’re earning