How to Deposit ETHFI on OKX? Ether.fi Funding Tutorial
ETHFI is now available for spot trading on OKX. You can buy it directly with USDT or USD.
Ether.fi is a liquid staking protocol on Ethereum, and ETHFI is its governance token, deployed on Ethereum mainnet with the contract address 0xFe0c30065B384F05761f15d0CC899D4F9F9Cc0eB. OKX opened ETHFI/USDT spot trading on March 18, 2024, and later launched ETHFI/USD and ETHFI/EUR unified trading pairs in the European Economic Area (EEA). Here's the step-by-step guide.
1. Preparation: Register an Account and Deposit USDT
The primary trading pair for ETHFI is ETHFI/USDT, so you'll need USDT in your account.
If you already have USDT: skip this step and go straight to step 2.
If you don't have USDT yet: In the app, tap [Assets] → [Deposit], search for USDT, and the system will generate a deposit address. Transfer USDT from another wallet or bank account to that address.
Key Risk: USDT operates on multiple networks such as ERC-20, TRC-20, BEP-20. Always select the exact network shown on the OKX deposit page. Choosing the wrong network will result in permanent loss of your assets.
2. Find the ETHFI Trading Pair and Place an Order
Once your funds are ready, you can buy.
Find ETHFI: In the app's top market search bar, type ETHFI and select the ETHFI/USDT spot trading pair from the results.
Place an order: Choose a market order (instant execution at the best current price) or a limit order (set a price you're willing to wait for and let the order fill). Enter the amount and confirm the order.
3. Confirm Your Assets After the Trade
After placing the order, go to [Assets] → [Spot Account] to see your ETHFI balance, which confirms the purchase. If the balance hasn't changed, check the order center to see if your order has been filled.
4. Key Risk Warnings
Always verify the contract address: ETHFI is an ERC-20 token, and the official contract address is 0xFe0c30065B384F05761f15d0CC899D4F9F9Cc0eB. If you need to withdraw ETHFI from OKX to an on-chain wallet, you must select the Ethereum network and verify the contract address.
Distinguish between spot and futures trading: OKX lists both ETHFI spot and perpetual futures. If you search in the futures trading area and open a position, you are using leverage to go long or short, not holding the token. Make sure you are on the spot trading page before placing your order.
Once the order is completed, go to the OKX assets page, tap into the spot account. If you can see the ETHFI balance, the deposit operation is successful. If the balance hasn't updated, check the order center to see whether the order was filled.
