Wrapped Ether (Avalanche)

ETH

(Wrapped) ETH is the native currency of the Ethereum chain used for gas fees and security

Risk Rating
Average
$3,801.19
5.36%
What is Wrapped Ether (Avalanche)?
What we like
ETH is the most liquid asset deployed across the multichain. Wrapped ETH (WETH) is a DeFi-compatible version of ETH.
What we like less
ETH transferred through the Avalanche bridge requires more trust assumptions as the bridge depends external validators to verify transactions.
What it means for you
Users holding ETH benefit from its fee generation and deflationary mechanisms, as well as its broad support across DeFi including lending, market making and staking.

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Information
Blockchain
  • Avalanche
Key Metrics
  • Market Cap: $10.4B
  • Fully Diluted Valluation: $10.4B
  • FDV / MC: 1
  • Ranking inside Exponential (excluding stables): #8
  • Circulating Supply: 2,733,513
  • Total Supply: 2,735,255
  • Volume (24H): $1.3B
  • ATH: $4,799.89 (11/09/2021)
  • ATL: $82.10 (12/15/2018)
Risk Assessment
Average
Asset Strength

WETH.e is a large-cap, fully collateralized asset. This asset is exposed to the underlying risks of Avalanche bridge, a protocol rated as Watch out.

Dependencies
Asset Tokenomics

WETH.e has an uncapped supply but has inflation control or burn mechanisms in place. WETH.e on Avalanche is backed 1:1 by ETH locked in the Avalanche bridge protocol on the Ethereum chain. ETH is "wrapped" to make it compatible with DeFi smart contracts. 1 Wrapped ETH is always equal to 1 ETH.

Asset Volatility

WETH.e is highly correlated to the overall market.

Things to know about WETH.e

What is the difference between Ether and Ethereum?

Ether (ETH) can be thought of as the ""fuel"" or gas fee that powers the Ethereum network. Ethereum refers to the actual blockchain technology or smart contract platform that underpins Ether. Whenever you send ETH or use an Ethereum application, you must pay a fee in ETH to use the network. This fee acts as an incentive for a block producer to process and verify your transaction.

Why does Ether have intrinsic value?

Ether serves two main purposes: one as a gas fee to transact on the Ethereum network and second as a speculative store of value. Currently, Ethereum users pay the transaction fees in ETH and ETH holders bear the cost of inflation from miner block rewards. In the absence of speculation, ETH holders are betting that demand for ETH from users of decentralized applications (dApps) outpaces the rate of inflation via block rewards. The second purpose comes from its monetary premium as a non-sovereign store of value. With the transition to Proof-of-Stake and changes to its monetary policy (EIP-1559), ETH now better competes with BTC as a monetary asset given its scarcity, durability and censorship-resistant qualities.

What is Ether used for?

Ether is used within the Ethereum ecosystem to perform a range of functions, including its native use as a gas fee to transact on the network, use as collateral for DeFi lending applications (to be lent or borrowed), use as medium of exchange for alternative crypto assets and non-fungible tokens (NFTs), acceptance in select retailers and service providers, and lastly, users can stake their ETH to become a validator to help secure the network in exchange for block rewards and transaction fees.

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WETH.e Pools
Trader Joe ETH Lending
0%
Yield
$1M
TVL
Risk
C
Protocol
Banker Joe
Chain
Avalanche
Pangolin AVAX-ETH Market Making
10.7%
Yield
$1M
TVL
Risk
C
Protocol
Pangolin
Chain
Avalanche

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