User signing up for ether.fi create a non-custodial account deployed on-chain. This non-custodial account can be used to hold assets, and swap between different supported assets.
Supported assets
Over 100 assets are supported for swaps, across different asset classes:
Stocks
Metals
Crypto assets
All assets exist as tokens on the blockchain.
The swap transaction
Swaps make use of underlying DeFi protocols such as Across, Enso, and OpenOcean. When swapping; you can select which asset you want to exchange, and which asset you want to receive. Multiple quotes are fetched and compared across eligible providers, and the best price is presented for confirmation.
All swaps require user authentication, after which the transaction is submitted on-chain. Swaps may take up to 15 minutes to complete depending on the asset and size of the trade.
Cashback on swaps
All swaps except for the sale of ETHFI are eligible for 0.15% cashback.