Mon Sep 09 14:37:31 UTC 2024: ## Ether.fi Chooses Scroll for Credit Card Launch, Boosting Layer-2 Network

**New York, NY** – Restaking protocol Ether.fi has announced a strategic partnership with Scroll, a zero-knowledge (ZK) rollup network, to power its upcoming credit card and lending market. This move signals a significant step towards the launch of Ether.fi’s “Cash” card, which will allow users to leverage their crypto holdings as collateral for purchases and automatically settle balances using native yields.

Scroll’s low transaction costs, achieved through its ZK-rollup technology, were a key factor in Ether.fi’s decision. The network offers “gasless” transactions, eliminating fees for users sending or staking assets. This contrasts sharply with Ethereum’s average gas fees, which are currently significantly higher.

“We’re thrilled to partner with Scroll,” said Mike Silagadze, CEO of Ether.fi. “This partnership has the potential to bring billions in TVL to Scroll and solidify its position as a leading layer-2 network.”

Since its launch in 2023, Scroll has seen its total value locked (TVL) increase from $556 million to $676 million. With the integration of Ether.fi’s services, Scroll is expected to experience further growth.

Ether.fi itself has established a strong presence in the restaking sector, boasting a TVL of $5.7 billion. This represents a 12% increase over the past month, a positive trend amidst a downturn in the wider restaking market.

The restaking sector, which includes protocols like Ether.fi, EigenLayer, Restake Finance, and Inception, currently manages a total value of around $24 billion. These platforms enable users to utilize staked assets for enhanced security and rewards across multiple blockchain applications, leading to increased capital efficiency and security within the decentralized app ecosystem.

Ether.fi’s collaboration with Scroll is seen as a significant development in the DeFi space, demonstrating the growing importance of layer-2 solutions for scalability and cost-efficiency. As the protocol continues to evolve, its credit card and lending market are expected to further disrupt the traditional financial system, offering users more diverse and innovative ways to engage with crypto assets.

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