Coinbase users convert their staked ETH into cbETH, a liquid ERC-20 token representing their staked ETH. Stakers receive a return on investment in the form of staking rewards (supply-side fees).

Coinbase Wrapped Staked Ether is a liquid staking derivative product offered by Coinbase. Coinbase was founded by Brian Armstrong and launched in 2012.

Coinbase governs wrapping and unwrapping staked ETH to cbETH. They currently take a cut of the total staking rewards earned by the product (revenue).

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Liquid staking

Coinbase Wrapped Staked Ether

# Gas used Methodology

## Overview

Gas used measures the total gas consumed by an application. It reflects how much users are willing to incur transaction costs when using the application.

Coinbase Wrapped Staked EthercbETH

Gas used

Gas used

Competitive landscape

Chain breakdown