Liquid Restaking Protocol Ether.Fi to Commit $600M $ETH to Secure Omni Network

Liquid restaking protocol Ether.Fi said it will commit $600 million worth of ether (ETH) in a delegation deal to secure the Omni Network.

Omni Network is a blockchain designed to allow all Ethereum rollups, or scaling products, to communicate with each other with low latency and security. Both Omni and Ether.Fi have committed to the pooled security model of EigenLayer, and the ether will be restaked on EigenLayer.

Omni will then whitelist Ether.Fi's liquid token eETH and will select Ether.Fi's node operators to run its Actively Validated Service (AVS). The staked ether will act as security that will protect against security breaches and asset depegs.

The deal, which will see Ether.fi delegate a third of the $1.8 billion it has accumulated in total value locked, comes days after it completed a $23 million Series A fundraising round.

Ether.fi is introducing a campaign on Monday called the "final countdown," which may be linked to a governance token airdrop that will reward people who have been earning points through restaking.

“We are excited to see Omni gearing up to launch as an AVS on EigenLayer to provide super fast interoperability with the high cryptoeconomic integrity that the Ethereum ecosystem cares deeply about” said Sreeram Kannan, the founder of EigenLayer.