Ether.fi’s New Referral Program Puts Cashback Rewards Directly in Users’ Wallets
Ether.fi just flipped the script on user acquisition—launching a cashback referral program that rewards both inviters and invitees. It's a classic crypto growth hack, but with a liquid staking twist.
How the Mechanics Work
Forget complex points systems. The model is straightforward: bring a new user onto the platform, and a slice of their staking rewards gets shared back as cashback. It creates a viral loop—existing users become de facto ambassadors, incentivized to grow the protocol's total value locked (TVL).
The Bullish Case for Protocol Growth
This isn't just about marketing. In DeFi, TVL is king—it signals security, utility, and often dictates token valuation. By directly aligning user incentives with protocol growth, Ether.fi is weaponizing its community. More deposits mean a more robust and valuable network, theoretically boosting the appeal of its liquid staking derivatives.
A Nod to Traditional Finance's Playbook
Let's be real—it's a referral program. Banks and brokerages have used them for decades to buy loyalty. The crypto twist? The rewards are native, instant, and don't require waiting for a check in the mail or navigating a 20-page terms-of-service document to find the clawback clause.
Ether.fi's move is a pragmatic bet on incentivized growth. It acknowledges that in a crowded DeFi landscape, sometimes the oldest tricks—with a blockchain backbone—work best. Whether this translates to sustainable adoption or just short-term TVL inflation remains the real question. After all, in crypto, a high APR can make even the most cynical investor temporarily forget the risks.
Ether.fi announces incentives to lure more users
The crypto staking platform announced that its users who invite other users on the platform will receive 10% cashback on all their spending. The platform also states that users who refer more than 10 new users will receive a 12-month VIP gold card in addition to their 10% cashback bonus on all transactions.
Users who create a personal profile will also qualify for exclusive perks, including club membership benefits, a cash and crypto-powered credit card, and personal finance products and services. The profiles created under the business category will not qualify for the incentives and are therefore not eligible for the rewards.
According to Ether.fi’s rules, the incentives are restrictive to jurisdiction, and not all citizens from all countries qualify. The staking platform announced that only accounts created within the given 10-day window through a referral LINK will qualify for the reward as successful referrals.
Etfher.fi also announced that the campaign is capped at $200,000 in spending credits, and once this amount is reached, the platform may decide to reduce or halt the spending credits even when the campaign window is still open. The platform also requires that all participants complete and pass KYC verification to be eligible for the rewards.
The platform stated that all rewards will be distributed by January 31, 2026, but the timeframe may be adjusted as time passes, depending on the existing risk policies. During the program, returned and refunded purchases will reduce the user’s eligible spend and may also reduce their cashback. Additionally, cash advances and ATM withdrawals will not count towards eligible spend or may even reduce it.
Ether.fi wrote that the referral program has already attracted $2.21 million in 24 hours. The MOVE is among the strategies the staking platform is deploying to attract more users and compete with other crypto credit card providers, such as Coinbase, Gemini, and Crypto.com.
Ether.fi bridges traditional finance with decentralized finance
The news follows the launch of Ether.fi’s one-click deposits for its cross-chain vaults. As previously reported by Cryptopolitan, the platform introduced the feature through a strategic partnership with LayerZero and Stargate in late July of this year.
The liquid staking protocol launched its crypto-powered credit card in 2024 on the Ethereum Layer-2 scaling network, Scroll. The Visa crypto credit card was designed to enable holders to make purchases where Visa is accepted as a payment method, but they are using their cryptocurrency holdings.
The digital asset Visa credit card was launched in four tiers, named after popular memecoins: Pepe, Wojak, Chad, and Whale. Unlike traditional credit cards, the Ether.fi credit card is a non-custodial card that allows users to complete purchases of goods and services directly from their crypto wallets. Users can also borrow against their crypto assets, such as EETH (Ethereum’s staked ETH) on Ethe.fi. The innovation is a solution that joins traditional finance and decentralized finance (DeFi).
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