ether.fi Stake Review 2026: Liquid Staking and Crypto Account

ether.fi Stake is a decentralized, non-custodial Ethereum staking protocol that DefiLlama lists under Liquid Staking. It has been listed since March 2023 and holds roughly $4.6 billion in TVL, up 2.7% over the past seven days. It runs on Ethereum, Base, Arbitrum, Optimism, Berachain and Scroll, and has its own token, ETHFI.

The homepage now presents ether.fi as more than a staking tool. It describes one account to hold, earn, borrow, spend, trade and send crypto, tokenized stocks and metals, with membership tiers and a cashback card.

This review is based on public listings and the project's own website, not hands-on testing. The staking mechanics, fees and withdrawal terms are not detailed in the material reviewed, so readers should confirm them in the documentation.

Liquid staking lets people stake ETH to help secure Ethereum while receiving a token that represents the stake. That token can usually be held or used elsewhere in DeFi while the underlying ETH earns staking rewards. ether.fi describes its protocol as decentralized and non-custodial, meaning users keep control of their assets through smart contracts rather than handing them to a company.

The website also describes restaking, which reuses staked assets to earn extra rewards and takes on extra risk. It warns of slashing penalties, smart contract vulnerabilities and loss of principal, and states that rewards are not guaranteed.

On top of the protocol, the ether.fi app adds a spending and trading layer. Users can hold cash and crypto, borrow against holdings, buy tokenized stocks and metals, and pay with a Visa-style card. The site says the card is issued under separate terms and is not affiliated with the protocol.

Staking fees and protocol fee splits are not public reviewed, so they are not stated here. Users should check the staking interface and documentation before depositing.

The website says global transfers use transparent, low-cost transactions, without giving figures. Card cashback rates run from 3% to 4% by tier, but membership pricing is not stated publicly. Gas costs on Ethereum and other chains apply on top.

The project says it is decentralized and non-custodial, and the homepage names Halborn as an auditor. DefiLlama lists two audits. Audits reduce risk but do not remove it, and staking and restaking can lose principal through slashing or smart contract flaws.

The homepage describes account balance protection of up to $500,000 per account, backed by ether.fi capital and a licensed underwriter, but states the program is not yet live and terms are coming. Do not count on it. The card is issued by a separate issuer under separate terms, so counterparty and regulatory exposure may differ from the protocol. No incidents are described publicly reviewed.

ether.fi suits ETH holders who want to earn staking rewards without running a validator and who may also want to borrow against holdings or spend crypto with a card. It is less suited to people who want a simple, fully custodial experience or who are not comfortable with slashing and smart contract risk.