What is Wrapped Ethereum (WETHW) and How Does It Work?
Introduction to Wrapped Ethereum (WETHW) Wrapped Ethereum (WETHW) is a tokenized form of Ethereum (ETH) that allows users to trade Ethereum on decentralized platforms that require ERC-20 token standards. WETHW is pegged 1:1 to ETH, making it interchangeable while improving compatibility across decentralized exchanges (DEXs) and applications. It simplifies the process of interacting with platforms that primarily operate using ERC-20 tokens. Why Use Wrapped Ethereum (WETHW)? One of the main reasons for using Wrapped Ethereum is that ETH itself does not comply with the ERC-20 token standard. Many decentralized finance (DeFi) platforms require assets in the ERC-20 format. WETHW allows ETH holders to participate seamlessly in DeFi applications, liquidity pools, and trading activities. Essentially, wrapping ETH into WETHW enhances the usability of the token. How Does WETHW Maintain its Value? WETHW maintains its value by being fully backed by Ethereum in a 1:1 ratio. For every WETHW mi...