weETHs (Super Symbiotic)
Overview
weETHs, the Super Symbiotic LRT, is intended to provide ether.fi customers an easy onboarding into the Symbiotic ecosystem. Unlike other LRTs, users have numerous deposit options including WETH, eETH, weETH, wstETH, cbETH, bETH, rETH, mETH, swETH, etc. These assets will be directly restaked on Symbiotic each time the deposit caps are raised.
Key Benefits
Earn staking yield
Don’t worry about tracking when Symbiotic deposit caps will be lifted
Access multiple points programs: Symbiotic points, ether.fi points and Veda points
Allocations
A portion of weETHs deposits may be allocated to third-party protocols to seek additional rewards for depositors. Each allocation introduces its own risk profile, which may include smart contract, liquidity and counterparty risk. Below is a summary of current allocations.
Cap Protocol – M11 Credit / FalconX
A portion of weETHs collateral is allocated to Cap Protocol, where M11 Credit acts as a borrower. M11 Credit deposits the borrowed funds into the Pareto vault, which supplies capital to FalconX to be utilized in their Prime Brokerage. This allocation generates a sustainable yield sourced from FalconX's lending activity.
How the delegation works:
Symbiotic → Cap Protocol → M11 Credit (borrower) → Pareto Vault → FalconX
Delegation Risks
By holding weETHs, you are exposed to the following risks associated with this delegation. Please review carefully before depositing.
Slashing Risk: If the loan collateral reaches an excessively high loan-to-value (LTV) ratio, delegated funds may be partially or fully slashed. This would result in a loss of principal for weETHs holders.
Counterparty Risk (FalconX): Funds ultimately flow to FalconX. If FalconX mishandles, misappropriates, or is otherwise unable to return the borrowed capital, depositors may suffer a loss.
Counterparty Risk (M11 Credit): M11 Credit acts as the intermediary borrower. Any failure by M11 Credit to meet its obligations under the Cap Protocol framework could impact the return of funds.
Protocol Risk (Cap Protocol / Pareto): Smart contract bugs, exploits, or operational failures in Cap Protocol or the Pareto vault could result in loss of delegated funds.
Liquidity Risk: Delegated capital may not be immediately available for withdrawal. Redemption timelines depend on the underlying loan terms and protocol mechanics.
Important: This delegation means weETHs is no longer solely exposed to Symbiotic restaking risk. By depositing, you acknowledge exposure to the full delegation chain described above. Past performance of any counterparty does not guarantee future results.
Audits & Contract Deployments
Audits
https://github.com/Se7en-Seas/boring-vault/tree/main/audit
Contracts
BoringVault: 0x917ceE801a67f933F2e6b33fC0cD1ED2d5909D88
Token: 0x917ceE801a67f933F2e6b33fC0cD1ED2d5909D88
Accountant: 0xbe16605B22a7faCEf247363312121670DFe5afBE
Lens: 0x5232bc0F5999f8dA604c42E1748A13a170F94A1B
Teller: 0x99dE9e5a3eC2750a6983C8732E6e795A35e7B861
Super Symbitoic FAQS
Are deposits in the vault capped?
No caps on launch of the vault. We’ll monitor the vault activity and total deposits, and will introduce caps if required for a healthy balance of Symbiotic points across deposits.
Does this also have a 72 hour withdrawal period like other vaults?
No, it is a 7-day withdrawal period. While most withdrawals will complete well before this maximum window, this is an additional safety mechanism added by Veda.
Is there any benefit to depositing a certain token over another?
No. All deposits are treated the same.
What are Veda points, who is Veda?
Veda is the first Native Yield Layer and the protocol powering Liquid and the Super Symbiotic LRT. You can learn more about Veda on X https://x.com/veda_labs
Where can I see my Veda points earned?
The Veda points dashboard is under development but is expected to be available in a few weeks. You can learn more about Veda on X https://x.com/veda_labs
Where can I see my Symbiotic points earned?
On the ether.fi App (coming soon)
Who audited the vault?
The vault was audited by Macro and Spearbit https://github.com/Se7en-Seas/boring-vault/tree/main/audit
How is weETHs different from other Liquid LP tokens?
You will be able to use weETHs in DeFi for all the things you know and love. More big news on this coming soon.
Any yields earned on this vault other than points?
You will earn the composite staking rate of all yield bearing assets in the vault.
Do I still earn my ~3% APY like I get for holding eETH?
You earn the composite staking rate of all yield bearing assets in the vault.
How does this give me more points, or even the same amount of points vs depositing directly into Symbiotic?
Symbiotic only accepts deposits until the deposit cap for a given asset is reached. Those deposits are the only ones that earn Symbiotic points until deposit caps are raised again. This is true for all deposit methods.
Users that deposit on Symbiotic directly only earn Symbiotic points.
Users that deposit into Super Symbiotic earn Symbiotic points, ether.fi points and Veda points.
Do I still earn staking rewards like I do with eETH?
You earn the composite staking rate of all yield bearing assets in the vault.
What is a delegation, and does it affect my risk?
A delegation routes a portion of vault assets to Symbiotic Networks to generate yield. This means weETHs holders bear additional risks beyond Symbiotic restaking, including slashing, counterparty default, and smart contract risk across the delegation chain. See the Delegations section above for full details.
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