Crypto Card Craze: Ether.fi Launches U Card Cash

Recently, cryptocurrency payment cards have become the focus of the market. As a leading project in the Ethereum Restaking field, Ether.fi has launched its own U Card Cash product. After practical testing, we evaluated this card from multiple perspectives and found that it performs excellently in terms of cashback, earnings, payments, security, and enterprise applications, making it suitable for both individual and business users.

Generous Cashback Mechanism

The Ether.fi Cash card adopts a tiered cashback system. Core users can receive a 2% cashback, while Luxe and Pinnacle users enjoy a 3% cashback. In the current promotional event, users can receive up to 5% total cashback, with 3% returned directly and an additional 2% issued in the form of ETHFI tokens.

All instant cashbacks are settled in SCR tokens and (, the native token of the Scroll network, automatically credited after consumption, with no threshold limits. Users can also invite friends to use the Cash Card for consumption to receive an additional 1% cashback.

It is worth mentioning that the Cash card supports mainstream mobile payment systems and can be used directly in both online and offline scenarios.

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Flexible Interest Earning Feature

A major highlight of Ether.fi Cash is its seamless integration with the platform's Liquid Vaults. Users can directly deposit assets into the vaults within the platform and start earning interest without having to transfer funds to other platforms.

The current main Vault's base annual yield )APR( is as follows:

• Liquid USD: approximately 9.8%
• Liquid ETH: about 7.2%
• Liquid BTC: approximately 2.1%

In addition, there is about 7% of ETHFI incentives stacked on top of the basic returns.

Each Vault page provides detailed information, including recent performance, asset distribution, strategy providers, fees, and contract addresses. Users can view the Vault strategy configuration in real-time and check the distribution of contract assets through the data platform.

Taking the Liquid ETH Vault as an example, ETH will be automatically distributed across multiple protocols, and the asset allocation ratio and yield structure can be viewed at any time on the platform.

Currently, there is an incentive program called "Mint, Spend, Earn" underway, which is expected to distribute a total of 600,000 ETHFI tokens as rewards for users who deposit into the Vault and those who use the Cash card for spending.

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Diversified Payment Methods

Cash Card offers two main payment methods:

1. Borrowing Mode: Users can borrow and consume by pledging assets such as eETH, eUSD, etc. During the transaction process, the platform will automatically complete the borrowing process. The current promotional borrowing rate is 0%, and there is no need to pay Gas fees.

2. Pre-storage mode: Users can deposit various tokens into the Vault in advance, and when making a payment, the system will automatically convert them into USDC and complete the payment without triggering a loan.

Card consumption is settled in US dollars by default. Foreign currency payments will incur an approximate exchange rate conversion fee of around 0.98%. Regardless of the payment method used, transaction records and balance updates will be reflected in real-time on the Vault page.

On-Chain Operation Ensures Security

All operations of Ether.fi Cash are executed on-chain. Processes such as spending, borrowing, and cashback are completed through smart contracts. Users can view transaction details at any time, and the assets are still managed by the users themselves, ensuring a high level of security.

The only downside is that the account creation stage requires relatively complex KYC materials, and this U card is not yet supported in certain regions.

Suitable for teams and enterprises

The Cash card supports multiple members for use, with different roles set in the management backend: owner, administrator, and employee. This makes it very suitable for teams and corporate organizations.

• Administrators can set spending limits, issue/freeze cards, and view overall spending reports.
• Regular members can only use the allocated amount and cannot access the main team capital pool.

This mechanism is more friendly to DAOs, remote teams, or companies managing on-chain assets, helping to achieve a transparent and controllable spending process.

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Summary

Ether.fi Cash provides a comprehensive set of on-chain asset utilization tools. From cash back and interest accrual to payment management, users can earn token rewards during daily spending, invest idle assets into the treasury to earn returns, and flexibly choose borrowing or pre-deposit methods to complete daily payments. Teams and enterprises can also leverage the permission control system for multi-member collaboration. During the "storage, use, and management" of on-chain assets, this card offers users a practical solution.