In this post:
- Etherfi launches one-click deposits for its cross-chain vaults.
- The firm integrated Enso’s widget in conjunction with LayerZero and Stargate to establish the one-click deposit feature.
- The initiative aims to simplify deposits and enhance user experience.
Liquid-restaking protocol on the Ethereum blockchain, Etherfi, has launched one-click deposits for its cross-chain vaults. The firm partnered with LayerZero and Stargate to establish the one-click deposit feature.
The staking infrastructure provider stated that the Enso-powered initiative simplifies vault deposits, which also enhances user experience. Etherfi also integrated Enso’s widget, which it said transforms a multi-stage process into a single step.
Etherfi simplifies vault deposits
The company believes Enso’s widget will also empower users to quickly and easily deposit into liquid vaults from any chain or position. According to Etherfi, the process is automated by leveraging Enso’s cross-chain execution, which bundles it into a single interaction from the user’s perspective.
The firm mentioned that users no longer need to hold a specific token on a specific chain, thanks to the introduction of one-click vaults. Etherfi will allow users to deposit into a vault using the assets they already hold – even if they’re on a different chain.
In addition to reducing friction and maximizing user retention, the restaking infrastructure provider with over $10 billion in total value locked (TVL) also believes that the initiative will help grow TVL. Etherfi hopes to incentivize ETH stakers to deposit assets that would otherwise be scattered across multiple chains, which would boost its TVL.
The company acknowledged that the toolkit it created for blockchain developers to streamline smart contract interactions complements the widget developed by Enso in collaboration with LayerZero and Stargate. The collaboration makes it easy for developers to create sophisticated decentralized applications without having to manually integrate multiple smart contracts and frameworks.
Etherfi aims at addressing two of the industry’s longest-standing challenges with the integration of Enso’s solution, including UX and liquidity fragmentation. Enso’s capabilities streamline cross-chain interactions for DeFi projects as well as simplify the process for end users.
Etherfi noted that Enso’s one-click process live on the protocol makes its vaults fully chain-agnostic and frictionless for depositors. According to the firm, Enso operating as the shortcut layer for liquid restaking protocols makes DeFi primitive accessible to a broader user base.
EtherFi introduces ETH staking for institutional lending
Etherfi partnered with Maple Finance on June 30 to allow weETH as collateral for institutional lending. The initiative will allow borrowers to use the asset to acquire USDC loans.
“Restaking has moved from a niche experiment to a cornerstone of Ethereum’s evolving capital stack. With over $2 billion in assets under management, Maple will turn this momentum into real institutional activity.”
-Sid Powell, Co-founder and CEO of Maple.
Each loan requires a collateral of at least $5 million, and should last for two months, with a 2% APY rebate in ETHFI on the first $50M in loans. Maple Finance noted that the loans are designed for allocators, treasuries, and professional ETH stakers.
Powell argued that the initiative aims to help investors access cash without giving up their assets, while still earning ETHFI rewards. At the time of publication, ETHFI is exchanging hands at around $1.22, a 28.93% increase in the last 30 days.
