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Lido EarnETH vault maintains fee structure as TVL reaches $196 million
The liquid staking giant is restructuring its EarnETH vault fees to lower fixed costs and tie compensation more closely to actual performance.
The EarnETH vault currently operates with a 1% platform/management fee and a 10% performance fee, a structure that has been in place since the vault launched on February 2, 2026.
What EarnETH actually does
EarnETH functions as a meta-vault that aggregates ETH-denominated assets, including ETH, WETH, stETH, and wstETH, and dynamically allocates them across sub-vaults. Those sub-vaults, curated by Mellow’s infrastructure, include strategies like GGV and stRATEGY, which chase yield across blue-chip DeFi protocols. The vault currently reports an APY of roughly 4.33%.
Total value locked in the EarnETH vault sits at approximately $196 million since its February launch. Withdrawals are processed in wstETH with a delay of up to 72 hours.
The consolidation strategy behind it
EarnETH is the product of a broader consolidation effort Lido announced on March 12, 2026, which merged a collection of fragmented individual vault strategies into two streamlined meta-vaults: EarnETH for Ethereum-denominated yields and EarnUSD for stablecoin strategies.
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The vault underwent a security audit by Nethermind, completed on March 2, 2026, roughly a month after launch.
Lido is also extending 0% infrastructure fees for qualifying stVaults through October 31, 2026. Fees directed from EarnETH flow to the Lido DAO treasury, which funds protocol development and governance operations.