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Eigenpie vs ether.fi

How Eigenpie and ether.fi differ on token, backend, TVL and approach.

Eigenpieether.fi
TypeIsolated LRTEigenLayer LRT
LRT tokenIsolated (mstETH…)eETH / weETH
How it worksA Magpie SubDAO: instead of pooling, Eigenpie converts each LST into its own isolated LRT (e.g. mstETH), so risk isn’t shared across different assets.Stake ETH (or an LST) for eETH, restaked via EigenLayer (and beyond) to earn staking + AVS rewards; weETH is the wrapped, DeFi-friendly version. Uniquely, users keep control of their withdrawal keys. Also runs the ether.fi Cash card.
Restakes onEigenLayerEigenLayer (+ Symbiotic)
TVL*~$9M~$6B+
Best forIsolated per-asset restakingThe safe default — liquidity & integrations

Eigenpie

  • Isolated risk per LST
  • Many LST options
  • Magpie ecosystem (vlEGP)
  • Small TVL (shrank from peak)
  • Fragmented liquidity (many tokens)

ether.fi

  • Largest LRT by far (~65% share)
  • Deepest DeFi liquidity & integrations
  • Non-custodial withdrawal keys
  • Yield not always the highest
  • Systemic weight / concentration

Bottom line

Pick Eigenpie for isolated per-asset restaking; pick ether.fi for the safe default — liquidity & integrations.

* TVL = dated snapshot (DefiLlama + provider reports, 2026).