Integrations - Points
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 may also earn additional protocol partner points. Below is a breakdown of the pools supported along with a how to of how to deposit to ensure rewards are earned.
See your DeFi tab for current protocol integrations with points tracking
See examples below of previous DeFi integrations and how points are tracked across these protocols
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.
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
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 (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 from the amount (SY-eETH + YT-eETH). It will be 2x Etherfi Loyalty points 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.
Regarding the 1x Etherfi loyalty 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 may get an additional 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 .
Degen responsibly.
Liquid Lockers
Liquid lockers currently integrated into ether.fi's point tracking are listed below:
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. 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.
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 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.
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
**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.
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.
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, and boosted ether.fi Loyalty points
Share based pool - Points earnings
You may notice a discrepancy in ether.fi Loyalty 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 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 loyalty pts the pool is accruing.
Maverick
Points: Ether.fi Loyalty Points
We have integrated LP tracking for the following pools deployed on Maverick:
This tracking has been designed for users to continue to earn loyalty points while being able to provide liquidity into the pool and earn the yield associated with 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 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.
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, and boosted ether.fi Loyalty points.
You may notice a discrepancy in ether.fi Loyalty 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
We have integrated tracking on Vessels on Gravita.
This tracking has been designed for users to continue to earn points while being able to provide borrow GRAI against their weETH.
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.
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 loyalty 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 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
Sommelier
Points: Ether.fi Loyalty Points
We have integrated point tracking on the Turbo eETH v2 vault on Sommelier. Points can be found on Sommelier here.
This tracking has been designed for users to earn ether.fi loyalty points on their eETH deposit.
Along with the release of the Turbo eETH v2 vault, we have deprecated the Turbo eETH v1 vault. To participate in any new rewards program, you must withdraw your assets from Turbo eETH v1 and deposit into Turbo eETH v2. Learn more about the deprecated vault here.
Prisma
Points: Ether.fi Loyalty Points
We have integrated tracking on the weETH collateralized vault on Prisma. After depositing weETH, you'll receive ULTRA as collateral.
This tracking has been designed for users to earn 2x ether.fi loyalty points on their weETH deposit.
Please note, the ULTRA v1 vault has been deprecated. To participate in any new rewards program, you must migrate your assets to the v2 vault here.
For more information, check out Prisma's docs here.
Zircuit
Points: Ether.fi Loyalty Points
We have integrated point tracking on the Zircuit weETH Staking Pool.
Along with Ether.fi loyalty points, users will also earn Zircuit points. You can read more about their point system and future plans here.
Gearbox
Points: Ether.fi Loyalty Points
We have integrated point tracking on Gearbox.
With Gearbox, you can earn passive yied by providing liquidity with your position, or you can trade on margin, leveraging your position up to 10x.
Learn more about Gearbox here.
Asymetrix
Points: Ether.fi Loyalty Points
We have integrated point tracking on Asymetrix. In addition to Ether.fi loyalty points, users will also earn Asymetrix points.
Asymetrix collects ETH from multiple users and distributes all the staking rewards to one user through a raffle.
Learn more about Asymetrix here.
Bunni
Points: Ether.fi Loyalty Points
We have integrated point tracking on Bunni for the rETH - weETH pool on Ethereum. Points are currently tracking on your ether.fi Portfolio tab.
Bunni allows users to invest in pools and receive LP tokens. Furthermore, you can stake your LP tokens to receive additional yield.
Learn more about Bunni here.
Ion
Points: Ether.fi Loyalty Points
We have integrated point tracking on Ion for the wstETH - weETH lending pool on Ethereum. are currently tracking on your ether.fi Portfolio tab.
Ion allows users to provide LRT's such as weETH as collateral to borrow other tokens, such as stETH.
Learn more about Ion here.
Stella
Points: Ether.fi Loyalty Points
We have integrated point tracking on Stella for their eETH Penpie lending pool on Arbitrum. are currently tracking on your ether.fi Portfolio tab.
Stella allows users to supply ETH and borrow eETH on the Penpie Liquid Locker. Additionally, users have the option to leverage their trade
Learn more about Stella here.
Sturdy
Points: Ether.fi Loyalty Points
We have integrated point tracking on Sturdy for their weETH lending pool on Mode. are currently tracking on your ether.fi Portfolio tab.
Sturdy allows users to supply weETH and borrow WETH.
Learn more about Sturdy here.
f(x)
Points: Ether.fi Loyalty Points
We have integrated point tracking on f(x) protocol for their stablecoin rUSD on Ethereum. are currently tracking on your ether.fi Portfolio tab.
rUSD is a stablecoin backed entirely by LRTs, starting with eETH.
Learn more about f(x) here.
IPOR
Points: Ether.fi Loyalty Points
We have integrated point tracking on IPOR for their weETH pool on Ethereum. Points are currently tracking on your ether.fi Portfolio tab. Additionally, users may earn pwIPOR incentives.
IPOR refers to a series of smart contracts that provide a benchmark interest rate and enable users to access interest rate derivatives on Ethereum. For the weETH pool, the interest rate derivative is based on the AAVE v3 (mainnet) ETH borrow rate. Swaps will be denominated in ETH and underwritten by the weETH pool. Swaps are paid out in weETH.
Learn more about IPOR here.
InstaDapp
Points: Ether.fi Loyalty Points
We have integrated point tracking on InstaDapp for lending weETH via Fluid on Ethereum. Points are currently tracking on your ether.fi Portfolio tab.
InstaDapp is a full feature platform for both users and developers to leverage the full potential of DeFi. Fluid is an advanced DeFi lending and borrowing platform on InstaDapp, offering high loan-to-value ratios, innovative liquidation mechanisms, and features like smart debt and collateral.
Learn more about InstaDapp here.
Vector Reserve
Points: Ether.fi Loyalty Points
We have integrated point tracking on Vector Reserve for vETH on Ethereum. are currently tracking on your ether.fi Portfolio tab.
vETH is a DeFi primative that is fully backed by LST's and LRTs. It relies on the Liquidity Position Derivative (LPD). It is a tokenized asset or index of ETH denominated Liquidity Positions (LP) against Liquid Staked Tokens (LST) and Liquid Restaked Tokens (LRT), that encapsulates both ETH and additional yield-generating opportunities
Learn more about Vector Reserve here.
Beefy
Points: Ether.fi Loyalty Points
We have integrated point tracking on Beefy for weETH pools on Ethereum and Arbitrum. Points are currently tracking on your ether.fi Portfolio tab.
Beefy is a multi-chain yield optimizer that hosts a number of vaults and DeFi strategies. The following pools on Beefy are supported:
Learn more about Beefy here.
AAVE
Points: Ether.fi Loyalty Points
We have integrated point tracking on AAVE for weETH collateral and borrowing on Ethereum. Points are currently tracking on your ether.fi Portfolio tab.
AAVE is a decentralized crypto lending platform that lets users borrow and lend crypto. The weETH/ETH market is symmetric, meaning you can borrow or lend weETH or ETH.
Learn more about AAVE here.
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