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EtherFi is a staking protocol that aims to enhance Ethereum's security. It allows users to stake their ETH to increase Ethereum's security level, passively earn APR, and receive liquid staking tokens in return. These tokens can be restaked in other protocols or used in DeFi.
It is powered by the native EtherFi token, which is used to reward ETH providers, node runners, and for voting in decentralized governance.
Recently, the company hosted a Seed (Undisclosed) funding round, which was undisclosed before the announcement of the Series A funding round. According to TheBlock, the platform managed to raise over $5.3 million from investors such as Arrington Capital, Maelstrom Capital, and others.