DeFiChain Ether

dETH

dETH is a wrapped version of ETH that is compatible with the DeFiChain ecosystem. Every dETH is backed by 1 ETH locked on DeFiChain.

Risk Rating

Watch Out

What is DeFiChain Ether?

What we like

Provides easy on-ramp and off-ramp to convert your ETH into a DeFiChain-compatible version that is backed 1:1 by underlying reserves.

What we like less

dETH is backed by underlying ETH reserves that are held in custody with Cake DeFi (through BitGo), which increases centralization risks.

What it means for you

dETH provides you price exposure to ETH and can also be used in the DeFiChain DEX to earn trading fees.

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Information

Blockchain

DeFiChain

Info

Asset Type: DST

Key Metrics

Risk Assessment

Watch Out

Asset Strength

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.

Dependencies

DeFiChain DEX

Asset Tokenomics

dETH has an uncapped supply but has inflation control or burn mechanisms in place.

Asset Volatility

dETH is highly correlated to the overall market.

Things to know about dETH

Who invented dETH?

dETH is a tokenized version of ETH on DeFiChain and backed by ETH collateral held with Cake DeFi (via BitGo).

How does dETH work?

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.

How secure is dETH?

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.