Wrapped eETH (WEETH)
Wrapped ether.fi ETH (weETH) represents ETH tokens that have been deposited into the pool on ether.fi, which is a non-custodial and decentralized staking protocol. When users deposit ETH into this pool, they receive eETH tokens in return. These eETH tokens can be restaked for additional rewards.
Overview
Wrapped eETH (weETH) staking involves the conversion of eETH, a token that represents staked Ethereum with variable balances, into weETH. This conversion process ensures a constant token balance, which is particularly useful for decentralized finance (DeFi) protocols that require fixed balances. The value of weETH is linked to eETH through a share system that reflects the owner's stake and the rewards that have been accrued.
How weETH works
| Ticker | WEETH |
| Category | Crypto-Backed Tokens |
| Website | https://www.ether.fi/ |
| @ether_fi | |
| Telegram | +C3fpSjmPqzA5NTVh |
| Contract Addresses | |
|---|---|
| ethereum | 0xcd...ee Copied! |
| arbitrum-one | 0x35...beCopied! |
As a wrapped non-rebasing ERC-20 version of eETH, known as ether.fi's Liquid Restaking Token, weETH allows users to earn rewards from native ETH staking and EigenLayer, as well as participate in other DeFi protocols. Unlike some other tokens, wrapped tokens like weETH do not undergo automatic balance adjustments. Changes in balance occur through the processes of minting, burning, or transferring.