# King Protocol (Historical Reference)

## 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## How ether.fi previously used King Protocol (Historical Reference)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 This is **historical reference only**.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>&#x20;

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

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


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