Skip to content

Latest commit

 

History

History
25 lines (22 loc) · 1.03 KB

WETH.md

File metadata and controls

25 lines (22 loc) · 1.03 KB
Raw

198 - WETH

WETH stands for Wrapped Ether. For protocols that work with ERC-20 tokens but also need to handle Ether, WETH contracts allow converting Ether to its ERC-20 equivalent WETH (called wrapping) and vice-versa (called unwrapping).

WETH can be created by sending ether to a WETH smart contract where the Ether is stored and in turn receiving the WETH ERC-20 token at a 1:1 ratio.

This WETH can be sent back to the same smart contract to be “unwrapped” i.e. redeemed back for the original Ether at a 1:1 ratio.

The most widely used WETH contract is WETH9 which holds more than 7 million Ether for now.

Slide Screenshot

198.jpg

Slide Text

  • Wrapper Ether
  • Ether Vw. ERC-20
  • Wrapping -> ERC-20
  • Unwrapping -> Ether
  • WETH Contract -> 1:1
  • WETH9 -> 7M Ether
  • WETH10 -> Efficiency & EIP-3156 Flash Loans

References

Tags