dETH is a wrapped version of ETH that is compatible with the DeFiChain ecosystem. Every dETH is backed by 1 ETH locked on DeFiChain.
dETH is a low-cap, fully collateralized asset. This asset depends on a centralized entity for custody services. This asset is exposed to the underlying risks of DeFiChain DEX, a protocol rated as Watch out.
dETH has an uncapped supply but has inflation control or burn mechanisms in place.
dETH is highly correlated to the overall market.
dETH is a tokenized version of ETH on DeFiChain and backed by ETH collateral held with Cake DeFi (via BitGo).
dETH is created and maintained by a centralized entity, Cake DeFi. Users can mint dETH by depositing ETH into Cake DeFi and withdrawing to their wallet address on DeFiChain.
dETH will never have the same level of decentralization or security as ETH since it relies on trusting people and organizations to manage the system instead of automated smart contracts.