WETH is an Ethereum token that represents wrapped ETH, or ETH that is locked up in a smart contract. WETH is a way to use ETH in Ethereum-based decentralized applications (dapps) that don’t natively support ETH.
WETH also allows users to trade ETH on decentralized exchanges (DEXes) that don’t natively support ETH.
WETH is an ERC20 token, which means it is built on the Ethereum blockchain and compliant with the Ethereum token standard. WETH can be created by sending ETH to a smart contract, and it can be destroyed by sending WETH back to the smart contract.
NOTE: WARNING: WETH is not an Ethereum, it is an ERC-20 token built on the Ethereum network. It is important to be aware of the differences between WETH and Ethereum, as they are not interchangeable. Always do your research before investing in any cryptocurrency.
The smart contract keeps track of how much WETH is in circulation at any given time.
WETH is not an official Ethereum Foundation project, but it is widely used by dapp developers and DEX users.
Is WETH an Ethereum? No, but it’s a token that represents ETH locked up in a smart contract.
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