Leveraged eETH wallet

What is Leveraged eETH (XEETH)?

Think of xeETH as the volatile half of a pair. A reserve of eETH, ether.fi's liquid restaking token, backs two claims at once: a dollar-stable token that is held at one dollar of value, and xeETH, which absorbs everything else. Because the stable half never moves, the whole swing of the reserve lands on the volatile half, and a move in ETH shows up here magnified.

What makes this one particular is the collateral. eETH is ETH that has been staked and then restaked, so xeETH is exposure to ETH stacked on top of a restaking receipt: the accrual inside eETH flows into the reserve, and the operator and restaking risk of eETH sits underneath your position too. There is no borrowed money in the structure, so there is no funding charge and the risk of liquidation is low, and xeETH can be redeemed for its share of the reserve at any time.

Holders confuse xeETH with eETH more often than you would expect. They are not interchangeable: eETH is a one-to-one style claim on staked ETH, xeETH is the leveraged remainder after the stable side is covered.

This is a position people take for a long ETH view, and long positions do badly with key rotation. In Tangem the private key is generated inside the card's secure element and never leaves it, a second identical card serves as the backup, and a recovery phrase exists only if you deliberately choose to add one. Supported networks in Tangem (1): Ethereum. Storage that asks nothing of you between the mint and the redemption is what a position held this long actually needs.