What is PT-weETH?
PT-weETH-25JUN2026 is a Principal Token for EtherFi's wrapped eETH (weETH), redeemable 1:1 for weETH at maturity on June 25, 2026.
Understanding weETH vs eETH
weETH is the wrapped version of eETH:
- Non-Rebasing: Price increases rather than balance
- DeFi Compatible: Better for protocols expecting stable balances
- Same Yield: Earns identical restaking rewards as eETH
- Wrapped Value: 1 weETH > 1 eETH (accumulates value)
weETH is preferred for DeFi integrations where balance stability is important.
EtherFi Restaking Yield
weETH captures multiple yield sources:
- Ethereum staking rewards
- EigenLayer AVS rewards
- Protocol incentives
- Points and airdrops (historically)
Fixed Yield Through PT
Buying PT-weETH locks in a fixed return:
- Purchase: Buy at discount to weETH value
- Hold: Until June 25, 2026
- Redeem: Each PT = 1 weETH
- Profit: Discount is your guaranteed yield
All variable restaking yield uncertainty is eliminated.
Long-Term Maturity
June 2026 provides:
- Extended yield lock-in period
- Larger total return from duration
- Less management required
Maturity: June 25, 2026
At maturity:
- Redeem PT for weETH
- Can unwrap to eETH
- Or convert to ETH
Risks
- EtherFi Risk: weETH depends on EtherFi operations
- EigenLayer Risk: Additional smart contract exposure
- Slashing Risk: ETH and AVS slashing possible
- Wrapping Risk: weETH/eETH conversion mechanics
- Opportunity Cost: Miss upside if yields increase