ETHFI · no protocol mint, but the vesting schedule is still unlocking.
ETHFI is the governance token of ether.fi, an Ethereum liquid-restaking protocol — ~927M circulating of a 1B fixed, fully-minted supply. There is no protocol inflation; every new coin comes from the vesting schedule.
Sell pressure. Vesting releases about 28.7M ETHFI over the next 90 days — linear at roughly 318K a day, far below last quarter's big investor cliff.
Buy pressure. A revenue-funded buyback buys ETHFI but redistributes it to stakers rather than burning it, so it removes no supply.
Net. About +3% to market over the next 90 days — supply still growing, but the pace is cooling sharply as the schedule winds down.
- Daily vesting release~0.32M/dayJul 4 2026 · added to market
- Vesting (next 90 days)~28.7MOct 2 2026 · added to market
ETHFI is a governance token with a fixed 1B supply that is already fully minted — there is no block reward, no staking emission and no mint function, so the protocol itself creates no new coins.
The only source of new supply is the vesting schedule, releasing linearly at about 318K ETHFI a day — roughly 28.7M over the next 90 days for the remaining team, treasury and airdrop cohorts. This is far slower than the last 90 days, when the two-year investor cliff finished and pushed ~140.5M into circulation.
The DAO treasury and remaining cohorts release on the published linear schedule counted above — there is no separate unscheduled discretionary release in the window; the ~72.6M still-locked overhang is monitored.
No bankruptcy estate or court-ordered distribution applies to ETHFI.
A revenue-funded buyback does buy ETHFI on the open market — 100% of withdrawal-fee revenue weekly, plus a share of protocol revenue monthly — but the coins are redistributed to stakers, not burned, so they stay in circulation and do not shrink supply. It eases selling but is carried at zero on the supply ledger — monitored.
ETHFI has no fee-burn mechanism — fees are used to buy and redistribute ETHFI, not to destroy it.
A treasury buyback of up to $50M while price is under $3 was proposed in late 2025; any executed buys still redistribute ETHFI to stakers rather than remove it, so no supply is taken off the market — monitored.
No new multi-year lock or escrow of circulating ETHFI announced in the window — monitored.
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