👑King Protocol (Historical Reference)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.

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This is historical reference only.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.

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

Last updated 16 hours ago