WETH:What is Wrapped ETH?

Discussion Use-case
1

I was reading about Wrapped ETH today and I only got why it is called WETH but I’ll like use to discuss what it is, it’s use-case, what it accomplishes, benefit of acquiring it and trading it…

Your views are appreciated.

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2

It is ERC20 token issued against bitcoin. As whole DeFi activity is happening on Ethereum, BTC also enters into DeFi.

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3

Hi, badly need help. Sent eth to eth classic. Checked trust wallet but i havent seen any amount. The transaction was successfully sent. Pls help

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4

Please start your own topic, you’ll have better response. Thanks

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5

It still not clear, but thanks for the effort.

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6

Don’t know how much you know about Ethereum. There is an ERC 20 standard at Ethereum which defines the token standard issued on Ethereum. Many famous tokens are ERC20 tokens such as DAI, USDC etc. But ETH itself isn’t an ERC20 token. So in order to trade ETH for other ERC20 tokens through smart contracts(it requires both side obtain the same standard), we need an ERC20 version ETH. Then someone invented WETH which turned ETH into WETH at the exchange rate 1:1 which means 1WETH will always equal 1ETH. Put it simple , WETH is another kind of ETH in order to be used by some smart contracts on Ethereum.

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7

I think what you talk about is WBTC rather not WETH.

8

Thanks so much, a much better explanation

9

Sorry it is ERC20 token issued against ETH. ERC20 standard has some advantages against ETH. It takes benefit of that.