Ether.fi has rolled out incentives to encourage users to enroll and refer to other users. The crypto-native credit card issuer will offer 10% cash back on all transactions for all referrals and a VIP Gold card to top users who refer more users.
Crypto-native credit card issuer and Liquid restaking protocol Ether.fi has launched a referral program to encourage users to invite others to the platform and execute Visa-crypto powered transactions. The referral program began on December 1 and will run till December 10.
Ether.fi announces incentives to lure more users
The crypto staking platform announced that its users who invite other users on the platform will receive 10% cashback on all their spending. The platform also states that users who refer more than 10 new users will receive a 12-month VIP gold card in addition to their 10% cashback bonus on all transactions.
Users who create a personal profile will also qualify for exclusive perks, including club membership benefits, a cash and crypto-powered credit card, and personal finance products and services. The profiles created under the business category will not qualify for the incentives and are therefore not eligible for the rewards.
According to Ether.fi’s rules, the incentives are restrictive to jurisdiction, and not all citizens from all countries qualify. The staking platform announced that only accounts created within the given 10-day window through a referral link will qualify for the reward as successful referrals.
Etfher.fi also announced that the campaign is capped at $200,000 in spending credits, and once this amount is reached, the platform may decide to reduce or halt the spending credits even when the campaign window is still open. The platform also requires that all participants complete and pass KYC verification to be eligible for the rewards.
The platform stated that all rewards will be distributed by January 31, 2026, but the timeframe may be adjusted as time passes, depending on the existing risk policies. During the program, returned and refunded purchases will reduce the user’s eligible spend and may also reduce their cashback. Additionally, cash advances and ATM withdrawals will not count towards eligible spend or may even reduce it.
Ether.fi wrote that the referral program has already attracted $2.21 million in 24 hours. The move is among the strategies the staking platform is deploying to attract more users and compete with other crypto credit card providers, such as Coinbase, Gemini, and Crypto.com.
Ether.fi bridges traditional finance with decentralized finance
The news follows the launch of Ether.fi’s one-click deposits for its cross-chain vaults. As previously reported by Cryptopolitan, the platform introduced the feature through a strategic partnership with LayerZero and Stargate in late July of this year.
The liquid staking protocol launched its crypto-powered credit card in 2024 on the Ethereum Layer-2 scaling network, Scroll. The Visa crypto credit card was designed to enable holders to make purchases where Visa is accepted as a payment method, but they are using their cryptocurrency holdings.
The digital asset Visa credit card was launched in four tiers, named after popular memecoins: Pepe, Wojak, Chad, and Whale. Unlike traditional credit cards, the Ether.fi credit card is a non-custodial card that allows users to complete purchases of goods and services directly from their crypto wallets. Users can also borrow against their crypto assets, such as eETH (Ethereum’s staked ETH) on Ethe.fi. The innovation is a solution that joins traditional finance and decentralized finance (DeFi).
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