ether.fi

**ether.fi is consolidating its cross-chain infrastructure** by deprecating weETH bridging on eight networks: Scroll, Swell, Bera, zkSync, Mode, Blast, Morph, and Sonic. **Key Details:** - Bridging will be disabled at the end of June - Users holding weETH on affected chains must bridge back to Ethereum or another supported chain before the deadline - The move aims to strengthen security by focusing resources on chains with higher activity and integration depth [View full details](https://etherfi.gitbook.io/etherfi/getting-started/multichain-ecosystem/weeth-partial-bridge-deprecation)

EtherFi is deprecating weETH bridging on eight chains by end of June 2026, following a recent security hardening initiative. **Affected chains:** - Scroll - Swell - Bera - zkSync - Mode - Blast - Morph - Sonic **Key details:** - Bridging will be disabled at the end of June - Users must bridge weETH back to Ethereum or another supported chain before the deadline - The move consolidates resources to chains with higher activity and integration depth **Context:** This follows a protocol-wide security review completed on April 23, which closed a latent risk proactively. No exploit occurred, but the team now has full control over security-relevant bridge parameters. The consolidation strategy mirrors broader industry trends, with projects like Allbridge also phasing out support for lower-activity chains to focus security resources more effectively.

**EtherFi Foundation Steps Up After rsETH Exploit** The EtherFi Foundation is proposing to contribute **5,000 ETH** to a dedicated relief vehicle aimed at addressing the rsETH shortfall from this week's exploit. **Key Points:** - The relief vehicle is designed to protect users and prevent bad debt from spreading across DeFi protocols - EtherFi has been coordinating closely with [Aave](https://aave.com) and other ecosystem partners - The Foundation emphasizes that an ecosystem-wide, coordinated response is essential for proper resolution - This follows earlier commitments, including a 2,000 ETH treasury contribution to DeFi United **Broader Ecosystem Response:** Over 71,700 users and multiple DeFi partners have rallied together, including Aave, Ethena, Mantle, Lido Finance, Arbitrum, and others. EtherFi and Aave are aligned on next steps, with the final recovery plan, user instructions, and timeline to be announced shortly.

Ether.fi is implementing two major security enhancements for its weETH token infrastructure: **Multi-Provider Quorum** - Evaluating addition of a second independent messaging stack (CCIP or Wormhole) alongside existing LayerZero integration - Goal: prevent any single messaging provider from unilaterally authorizing weETH mints or releases - Creates redundancy in cross-chain message verification **L2 Risk Assessment** - Conducting systematic review of every blockchain where weETH is deployed - Will deprecate chains whose trust assumptions no longer meet security standards - Process coordinated with L2 teams and security community for orderly transitions These changes reflect growing emphasis on defense-in-depth strategies for cross-chain token bridges, addressing single points of failure in messaging infrastructure.

EtherFi has implemented significant security upgrades to its weETH bridging infrastructure following a security review: **Key Changes:** - **DVN threshold increased** from 2 to 4/4 (unanimous consensus required) - **Message libraries pinned** on LayerZero send/receive pathways - **Stricter rate limits** implemented on EtherFi-owned bridge contracts **Security Improvements:** - LayerZero's multisig can no longer modify weETH bridge configuration on-chain - Every inbound message must be attested by all 4 DVNs - Per-route rate limits contain potential damage on controlled contracts, independent of bridge providers LayerZero's team has independently reviewed and confirmed the new configuration. The changes apply across all chains where weETH bridging is active, with both Liquid minting and redemption now enabled under enhanced security parameters.

**Frax Finance introduces FRXUSD**, a USD-pegged stablecoin maintaining a 1:1 dollar peg through overcollateralization. **Key features:** - Fully backed by tokenized U.S. Treasuries - Designed to share value with DeFi protocols rather than extract it - Aims to provide sustainable liquidity to partner platforms The protocol positions FRXUSD as a safer alternative to centralized stablecoins, emphasizing its treasury-backed structure and DeFi-friendly approach.

A developer announced their participation in the **initial Open Gas Initiative cohort**, expressing pride in being selected for this Ethereum-focused program. The Open Gas Initiative appears to be a new program aimed at addressing gas-related challenges on the Ethereum network. Being part of the initial cohort suggests this developer is among the first participants in what could be an important infrastructure development effort. This follows the developer's previous involvement in Ethereum-based projects, indicating continued commitment to the ecosystem's growth and optimization.

**Ether.fi has expanded into travel booking** with a new platform at travel.ether.fi offering competitive rates for holiday destinations. **Key features:** - 10% cashback on bookings - Claims to offer the cheapest rates available - Research-backed pricing verification This builds on their existing hotel booking service that previously offered 5% cashback through their mobile app. Users could book directly through the Ether.fi app after joining their Club program. **The travel platform represents Ether.fi's continued expansion** beyond traditional DeFi services into consumer-facing products with crypto rewards integration.

**Ether.fi's cash spending reaches $2.21 million in one day** during their "Cashmas" promotion campaign. The platform is offering a **10% cashback referral program** where users can: - Refer friends to earn 10% back on their spending - Split 20% cashback between referrer and new user - Participate through their cash promotion portal The high spending volume demonstrates strong user engagement with the holiday-themed cashback incentive program. Users can access the promotion at [ether.fi/app/cash/promotion/cashmas](https://www.ether.fi/app/cash/promotion/cashmas). *Take advantage of the Cashmas promotion to earn cashback on referrals.*

**Ether.fi has confirmed that all its ETH vault products remain completely safe** following recent losses affecting yETH users. **Key Safety Updates:** - LiquidETH and all other ether.fi vault products have **zero exposure to yETH** - All user funds in ether.fi products are secure and unaffected - This follows previous assurances about vault security during recent DeFi pressures **Background Context:** The DeFi vault ecosystem has faced significant challenges in recent weeks, prompting user concerns about fund safety. Ether.fi has maintained its focus on conservative risk parameters and sustainable yield strategies. **Transparency Measures:** Users can verify vault status and exposure in real-time through the platform's monitoring tools at [ether.fi/app/liquid](https://www.ether.fi/app/liquid). This update reinforces ether.fi's commitment to user safety amid broader DeFi market volatility.