WETHWETH
Overview
What is WETH?
Wrapped Ether (WETH) is an ERC-20 version of Ether, so smart contracts such as exchanges and lending markets can handle Ether like any other token.
How does WETH work?
Depositing Ether into the WETH contract mints the same amount of WETH, and withdrawing burns WETH and returns the Ether, so every WETH is backed 1:1 by Ether held in the contract.
Who governs WETH?
WETH is the wrapped Ether contract (WETH9). No company issues it: anyone can wrap Ether into WETH or unwrap it back.
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The values in this graphic are examples and do not reflect actual values. Treat them as approximations.