Ether.fi CEO Mike Silagadze: Exiting EigenLayer due to reduced staking returns and risks

Ether.fi will sever the final structural connection between pledged tokens and EigenLayer by the end of this quarter. As of August, less than 1% of assets are still in a re pledged state, and EigenPod withdrawal vouchers are expected to be removed by the end of the year. When Ether.fi goes online in 2024, deposits will automatically be re staked on EigenLayer. In August of this year, the company separated the re staking from weETH, and users need to choose an independent token based on Symbiotic. Mike Silagadze stated that the reason for exiting is that there are no meaningful profit opportunities for re pledging and the pledger perceives risks. (Source: CoinDesk)