{"id":"ethplus","title":"ETHPlus","content":"**ETHPlus (ETH+)** is a decentralized digital asset designed to provide diversified and yield-generating exposure to Ethereum's [liquid staking](https://iq.wiki/wiki/liquid-staking) ecosystem. Built on the [Reserve](https://iq.wiki/wiki/reserve) Protocol, ETH+ aims to offer a safe and indexed approach to earning yield from staked [Ethereum](https://iq.wiki/wiki/ethereum), while also contributing to the decentralization of Ethereum's [staking](https://iq.wiki/wiki/staking) distribution. [\\[1\\]](#cite-id-CqvQJSyXxo) [\\[2\\]](#cite-id-FsTbyydNcM)\n$$widget0 [YOUTUBE@VID](https://youtube.com/watch?v=zz5bp09GiwM)$$\n\n## Overview\n\nETHPlus (ETH+) functions as an RToken within the [Reserve](https://iq.wiki/wiki/reserve) Protocol framework, representing a basket of [Ethereum](https://iq.wiki/wiki/ethereum) Liquid Staking Tokens (LSTs). The project was introduced in April 2023 with a mandate to maintain an Ethereum-aligned LST basket, positively impact Ethereum's [staking](https://iq.wiki/wiki/staking) distribution, and provide value to ETH+ holders through diversification. Its design emphasizes passive yield generation and aims to simplify participation in the complex [liquid staking](https://iq.wiki/wiki/liquid-staking) landscape for users. The name \"ETH+\" was chosen to signify its alignment with Ethereum and its goal of providing diversified rewards, standing out from more complex token names in the LST space. [\\[2\\]](#cite-id-FsTbyydNcM)\n\n## Technology and Backing\n\nETHPlus is structured as an RToken, meaning it is 100% backed by a diversified set of underlying collateral tokens. A key feature of ETH+ is its over-collateralized protection, provided by RSR ([Reserve Rights](https://iq.wiki/wiki/reserve-rights)) stakers. In the event of a de-peg or loss of value in the underlying collateral, [RSR](https://iq.wiki/wiki/reserve-rights) tokens are sold off to cover losses, aiming to protect ETH+ holders.\n\nThe initial collateral backing for ETH+ consisted of 50% [Rocket Pool](https://iq.wiki/wiki/rocket-pool) ETH ([rETH](https://iq.wiki/wiki/reth)) and 50% Lido Wrapped Staked ETH ([wstETH](https://iq.wiki/wiki/wrapped-steth-wsteth)). This selection was based on their status as two of the largest LSTs in the [Ethereum](https://iq.wiki/wiki/ethereum) ecosystem, offering deep liquidity and diverse [validator](https://iq.wiki/wiki/validator) sets. The equal weighting was intended to encourage greater usage and adoption of rETH to promote a more equitable distribution of staked Ethereum, aligning with the project's mandate to positively impact [staking](https://iq.wiki/wiki/staking) distribution.\n\nOver time, the collateral basket has been updated. As of current data, ETH+ is backed by four distinct [liquid staking](https://iq.wiki/wiki/liquid-staking) tokens:\n\n* [Stader ETHx](https://iq.wiki/wiki/stader-ethx);\n* Staked Frax ETH ([sfrxETH](https://iq.wiki/wiki/frax-ether-frxeth-and-sfrxeth));\n* Wrapped Staked ETH ([wstETH](https://iq.wiki/wiki/wrapped-steth-wsteth));\n* Rocket Pool ETH ([rETH](https://iq.wiki/wiki/reth)).\n\nThe specific proportions of these collaterals are dynamically managed, with Wrapped Staked ETH ([wstETH](https://iq.wiki/wiki/wrapped-steth-wsteth)) typically holding the largest share, followed by Staked Frax ETH and [Rocket Pool](https://iq.wiki/wiki/rocket-pool) ETH, and then [Stader ETHx](https://iq.wiki/wiki/stader-ethx). The inclusion of new LSTs is dependent on technical integration and the availability of reliable [Chainlink](https://iq.wiki/wiki/chainlink) [oracles](https://iq.wiki/wiki/oracle) for price monitoring.\n\nIt is important to note that ETH+ operates as a proxy contract, which means the contract owner has the ability to make code changes, including potentially disabling sells, altering fees, or minting and transferring tokens. Users are advised to exercise caution due to this mutable aspect. [\\[1\\]](#cite-id-CqvQJSyXxo) [\\[2\\]](#cite-id-FsTbyydNcM) [\\[3\\]](#cite-id-MhlxxfJyus)\n\n## Tokenomics\n\nThe maximum supply of ETH+ is uncapped (∞). The revenue generated from the underlying staked assets in the ETH+ basket is distributed as follows:\n\n* **95%** is passed through directly to ETH+ RToken holders;\n* **5%** is distributed to RSR stakers, who provide governance and over-collateralized de-peg protection for the RToken.\n\nThis distribution model is designed to be competitive within the [liquid staking](https://iq.wiki/wiki/liquid-staking) market, ensuring attractive rewards for ETH+ holders while also incentivizing RSR stakers to provide security and governance. The collateral yield is distributed as revenue once the backing buffer, an extra collateral held to prevent RSR seizure from trading slippage, is full. [\\[2\\]](#cite-id-FsTbyydNcM) [\\[3\\]](#cite-id-MhlxxfJyus) [\\[1\\]](#cite-id-CqvQJSyXxo)\n\n## Use Cases\n\nETHPlus is designed for users seeking passive yield exposure to [Ethereum](https://iq.wiki/wiki/ethereum) through a diversified basket of [liquid staking](https://iq.wiki/wiki/liquid-staking) tokens. Its primary use cases include:\n\n* **Passive Yield Generation:** Holders can earn compounding rewards on their ETH without needing to actively manage individual [liquid staking](https://iq.wiki/wiki/liquid-staking) positions or rebalance their portfolios.\n* **Diversified Counterparty Risk:** By holding a basket of LSTs, ETH+ aims to mitigate the risks associated with any single [liquid staking](https://iq.wiki/wiki/liquid-staking) [provider](https://iq.wiki/wiki/liquidity-providers).\n* **DeFi Integrations:** ETH+ is intended to be easily integrated into various [decentralized finance](https://iq.wiki/wiki/defi) (DeFi) protocols, offering additional yield opportunities through [liquidity pools](https://iq.wiki/wiki/liquidity-pool) and other mechanisms. It is actively traded on [decentralized exchanges](https://iq.wiki/wiki/decentralized-exchange) like [Curve](https://iq.wiki/wiki/curve-finance) ([Ethereum](https://iq.wiki/wiki/ethereum) and [Arbitrum](https://iq.wiki/wiki/arbitrum)) and [Uniswap](https://iq.wiki/wiki/uniswap) V3 (Ethereum).\n* **DAO Treasury Diversification:** The token's reputation neutrality and diversified backing make it suitable for decentralized autonomous organizations ([DAOs](https://iq.wiki/wiki/dao)) looking to diversify their treasuries with yield-bearing assets.\n\nEarly adopters and advocates for ETH+ include individuals interested in [staking](https://iq.wiki/wiki/staking) ETH, [DeFi](https://iq.wiki/wiki/defi) enthusiasts seeking passive income, and yield farmers. The project aims for high liquidity and broad usability across [Ethereum](https://iq.wiki/wiki/ethereum) [Layer 1](https://iq.wiki/wiki/layer-1) and [Layer 2](https://iq.wiki/wiki/layer-2) solutions. [\\[1\\]](#cite-id-CqvQJSyXxo) [\\[3\\]](#cite-id-MhlxxfJyus) [\\[2\\]](#cite-id-FsTbyydNcM)\n\n## Governance\n\nThe deployment of the ETHPlus RToken was initiated by Eridian, an active member of the [Ethereum](https://iq.wiki/wiki/ethereum) [staking](https://iq.wiki/wiki/staking) community and a solo Ethereum staker. Eridian is known for maintaining the EthStaker Knowledge Base and DVStakers, an educational resource focused on Distributed Validator Technology (DVT). Eridian's motivation for deploying ETH+ stemmed from the desire to expand the Ethereum staking ecosystem beyond the 32 ETH minimum for solo staking, enable compounding rewards, and simplify the increasingly complex Liquid Staking Derivative (LSD) landscape.\n\nGovernance of ETH+ is primarily conducted by RSR stakers. These stakers provide both governance and over-collateralized protection for the RToken. Their role involves active participation in forum discussions and voting on governance proposals, such as the inclusion or removal of underlying LSTs in the basket. This model aims to ensure that governance decisions are aligned with the best interests of the RToken and its holders, as RSR stakers have \"skin in the game\" through their staked tokens.\n\nETHPlus (ETH+) is traded on [decentralized exchanges](https://iq.wiki/wiki/decentralized-exchange) across the [Ethereum](https://iq.wiki/wiki/ethereum) and [Arbitrum](https://iq.wiki/wiki/arbitrum) One networks. Key trading pairs include ETH+/[EUSD](https://iq.wiki/wiki/eusd) and ETH+/[WETH](https://iq.wiki/wiki/weth-wrapped-eth) on platforms like [Curve](https://iq.wiki/wiki/curve-finance) and [Uniswap](https://iq.wiki/wiki/uniswap) V3 [\\[2\\]](#cite-id-FsTbyydNcM) [\\[3\\] ](#cite-id-MhlxxfJyus)[\\[1\\]](#cite-id-CqvQJSyXxo) [\\[4\\]](#cite-id-UCUkgw7rJG) [\\[5\\]](#cite-id-R0sulrSHVN)","summary":"ETHPlus (ETH+) is a reward-generating Ethereum Liquid Staking Token (LST) basket built on Reserve Protocol. It offers diversified ETH LST yield with over-collateralized protection, aiming to positively impact Ethereum's staking distribution.","images":[{"id":"QmS2dEWvh5DkAD9cVrjaHCA7UAmEYcyFjsB1PyFGcFzRL9","type":"image/jpeg, image/png"}],"categories":[{"id":"defi","title":"defi"}],"tags":[{"id":"Protocols"},{"id":"Ethereum"}],"media":[{"id":"QmWfAfwog3u8uLHWby37ewh7WxdPSJTodZWfLmpYDLgEjs","name":"MJqUFyGm_400x400.jpg","caption":"","thumbnail":"QmWfAfwog3u8uLHWby37ewh7WxdPSJTodZWfLmpYDLgEjs","source":"IPFS_IMG"},{"id":"QmWMErd2ZmfAe4cQX5PDxANVPybqe93ZBbyntLCfvWy2wx","name":"Cópia de Design sem nome (1).png","caption":"","thumbnail":"QmWMErd2ZmfAe4cQX5PDxANVPybqe93ZBbyntLCfvWy2wx","source":"IPFS_IMG"},{"id":"https://www.youtube.com/watch?v=zz5bp09GiwM","name":"zz5bp09GiwM","caption":"","thumbnail":"https://www.youtube.com/watch?v=zz5bp09GiwM","source":"YOUTUBE"}],"metadata":[{"id":"references","value":"[{\"id\":\"CqvQJSyXxo\",\"url\":\"https://app.reserve.org/ethereum/token/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8/overview\",\"description\":\"Reserve app overview\",\"timestamp\":1753409853354},{\"id\":\"FsTbyydNcM\",\"url\":\"https://forum.reserve.org/t/rfc-introducing-eth/386\",\"description\":\"RFC Introducing ETH+\",\"timestamp\":1753409853354},{\"id\":\"MhlxxfJyus\",\"url\":\"https://www.coingecko.com/en/coins/ethplus-2\",\"description\":\"CoinGecko ETHPlus page\",\"timestamp\":1753409853354},{\"id\":\"UCUkgw7rJG\",\"description\":\"Twitter: ETH+\",\"timestamp\":1753410704208,\"url\":\"https://x.com/ethplus_\"},{\"id\":\"R0sulrSHVN\",\"description\":\"Forbes: ETH+\",\"timestamp\":1753410731104,\"url\":\"https://www.forbes.com/digital-assets/assets/ethplus-eth-2/\"}]"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/ethplus-2"},{"id":"twitter_profile","value":"https://x.com/ethplus_"},{"id":"etherscan","value":"https://etherscan.io/token/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8"},{"id":"contract_url","value":"https://etherscan.io/token/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8"},{"id":"arbiscan","value":"https://arbiscan.io/token/0x18c14c2d707b2212e17d1579789fc06010cfca23"},{"id":"website","value":"https://app.reserve.org/ethereum/token/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8/overview"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmbJqkN1vBxZnePuDwkxNcVty7SvoeQgokEiBLDMx6sLhP\""},{"id":"commit-message","value":"\"Update ETHPlus article: improve internal linking, restructure sections, add video, and founders.\""},{"id":"previous_cid","value":"QmbJqkN1vBxZnePuDwkxNcVty7SvoeQgokEiBLDMx6sLhP"}],"events":[{"id":"38849231-c77b-4c4b-ba25-8ea71306ddae","date":"2023-04","title":"ETHPlus Launched","type":"CREATED","description":"ETHPlus, a reward-generating Ethereum Liquid Staking Token basket, was introduced on the Reserve Protocol Forum, aiming to provide diversified ETH LST yield with over-collateralized protection.","multiDateStart":null,"multiDateEnd":null},{"id":"38849231-c77b-4c4b-ba25-8ea71306ddae","date":"2023-04","title":"Initial Collateral Basket Established","type":"DEFAULT","description":"ETHPlus's initial collateral basket was set to 50% RocketPool's rETH and 50% Lido's wstETH, chosen for their deep liquidity and diverse validators within the Ethereum staking ecosystem.","multiDateStart":null,"multiDateEnd":null},{"id":"38849231-c77b-4c4b-ba25-8ea71306ddae","date":"2024-09","title":"Stader ETHx Added to Collateral Basket","type":"DEFAULT","description":"A proposal was made and accepted to add Stader's ETHx to the ETH+ Liquid Staking Token basket, further diversifying its underlying collateral assets.","multiDateStart":null,"multiDateEnd":null},{"id":"38849231-c77b-4c4b-ba25-8ea71306ddae","date":"2023-04","title":"ETHPlus Launched","type":"CREATED","description":"ETHPlus, a reward-generating Ethereum Liquid Staking Token basket, was introduced on the Reserve Protocol Forum, aiming to provide diversified ETH LST yield with over-collateralized protection.","multiDateStart":null,"multiDateEnd":null},{"id":"38849231-c77b-4c4b-ba25-8ea71306ddae","date":"2023-04","title":"Initial Collateral Basket Established","type":"DEFAULT","description":"ETHPlus's initial collateral basket was set to 50% RocketPool's rETH and 50% Lido's wstETH, chosen for their deep liquidity and diverse validators within the Ethereum staking ecosystem.","multiDateStart":null,"multiDateEnd":null},{"id":"38849231-c77b-4c4b-ba25-8ea71306ddae","date":"2024-09","title":"Stader ETHx Added to Collateral Basket","type":"DEFAULT","description":"A proposal was made and accepted to add Stader's ETHx to the ETH+ Liquid Staking Token basket, further diversifying its underlying collateral assets.","multiDateStart":null,"multiDateEnd":null}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"language":"en","version":1,"linkedWikis":{"blockchains":["ethereum","arbitrum"],"founders":["nevin-freeman","matt-elder"],"speakers":[]}}