Ether.fi Introduces Referral Program to Drive User Growth
Ether.fi, a crypto-native credit card issuer and liquid restaking protocol, has launched a referral program aimed at encouraging users to invite others to the platform and conduct Visa-crypto powered transactions. The referral program commenced on December 1 and is scheduled to conclude on December 10.
The crypto staking platform announced that users who successfully refer other individuals to the platform will receive a 10% cashback on all their spending. Furthermore, users who refer more than 10 new users will be awarded a 12-month VIP gold card in addition to their 10% cashback bonus on all transactions.
Users who establish a personal profile will also be eligible for exclusive benefits, including club membership advantages, a credit card powered by cash and crypto, and personal finance products and services. Profiles created under the business category are excluded from these incentives and are therefore not eligible for the rewards.
According to Ether.fi's rules, the incentives are subject to jurisdictional restrictions, meaning not all citizens from every country will qualify. The staking platform specified that only accounts created within the designated 10-day period through a referral link will be considered successful referrals and eligible for the reward.
Ether.fi also disclosed that the campaign has a spending credit cap of $200,000. Once this threshold is reached, the platform reserves the right to reduce or suspend the spending credits, even if the campaign window remains open. All participants are required to complete and pass KYC verification to be eligible for the rewards.
The platform indicated that all rewards will be distributed by January 31, 2026, although this timeframe is subject to adjustment based on prevailing risk policies. During the program, any returned or refunded purchases will decrease a user's eligible spend and may also impact their cashback amount. Additionally, cash advances and ATM withdrawals will not contribute to eligible spend and could potentially reduce it.
Ether.fi reported that the referral program has already generated $2.21 million in 24 hours. This initiative is part of the staking platform's strategy to attract a larger user base and effectively compete with other crypto credit card providers, such as Coinbase, Gemini, and Crypto.com.
Ether.fi Integrates Traditional and Decentralized Finance
This announcement follows the recent launch of Ether.fi's one-click deposit feature for its cross-chain vaults. As previously reported by Cryptopolitan, the platform introduced this capability through a strategic collaboration with LayerZero and Stargate in late July of this year.
The liquid staking protocol introduced its crypto-powered credit card in 2024 on the Ethereum Layer-2 scaling network, Scroll. This Visa crypto credit card was designed to allow cardholders to make purchases wherever Visa is accepted, utilizing their cryptocurrency holdings as the payment method.
The digital asset Visa credit card was launched in four distinct tiers, named after popular memecoins: Pepe, Wojak, Chad, and Whale. In contrast to traditional credit cards, the Ether.fi credit card operates on a non-custodial basis, enabling users to complete purchases for goods and services directly from their crypto wallets. Users also have the ability to borrow against their crypto assets, such as eETH (Ethereum's staked ETH), on Ether.fi. This innovation serves as a solution that bridges the gap between traditional finance and decentralized finance (DeFi).