WETH

fairysquirt

to be clear if you're learning. there is a distinction that many have forgotten but is worth always stating imho. a coin has its own blockchain, a token rides on another blockchain. bitcoin on ethereum is an erc20 token, so is WETH on Ethereum, but ETH is a coin on ethereum but needs to be wrapped into the erc20 token standard to be used in DeFi just as any other token. bitcoin is the coin of bitcoin blockchain, runes are not coins they are effectively tokens following a token protocol on bitcoin. doge is a coin as its the native currency of its own blockchain. shiba is not a coin, it was a token launched on ethereum. people somehow confuse them. coins generally in my mind hold alot more merit as people who created them actually had to be blockchain developers, propagate, promote and manage their own networks. doge and wif are NOT comparable asset classes. people forgetting or not really caring about the distrinction is how this memecoin run is a rug fest because its a memetoken run and they require zero effort, skill or intention to deliver anything, or need to have any effort or continual work be done to maintain their ongoing existence. a whole network had to die for a coin to be a rug, often enough. not saying POS coins that used bitcore qt wallet works didn't lose value, but they had more merit than most tokens. there was alot more involved to integrate a coin into a website. tokens can do alot on the backs of the mother chain's compatability and talented devs work. tokens are often parasitic to the chain and the market cap of the native coin, sometimes they are the marketing and brands that draw people to that chain and support the price of the native token. maybe SOL is like this as many LPs are SOL/Shit token pairs. anyway call coins coins and tokens tokens and atleast I will be happy, apparently nobody else in crypto gives a shit anymore.

jay_pu

Hi inadyttap . Will you be willing to swap your Evienne No. 22 for my Evienne No. 89 and I'll just add WETH to make it worth your while?

jay_pu

Hi bro. Will you be willing to trade your Evienne No. 22 for my Evienne No. 89 and I'll just add WETH or avatar/s?

ec265

ETH WETH rETH COIN

Zarigis

But the value is entirely derived from the underlying ETH, which the network also secures. Where does it end? If I stake 64 ETH, wrap it as 32 stETH and 32 WETH, then wrap the stETH that as 28 wstETH, then make a wstETH-WETH Univ2 token, is the network securing 32 (stETH) + 32 (wstETH) + 32 (WETH) + 64 (wstETH-WETH) = 160 ETH worth of ERC20 tokens? If that's the case then it's hardly surprising that the value of tokens exceeds the value of ETH, since so much ETH would end up being triple counted.

coinfeeds-bot

tldr; Decentralized exchange aggregator 1inch suffered a $5 million hack due to a vulnerability in its outdated Fusion v1 smart contract implementation. The attack targeted resolvers, entities filling orders, but end-user funds remained safe. The hacker stole 2.4 million USDC and 1276 WETH. 1inch has launched bug bounty programs to address vulnerabilities and recover funds, though recovery chances are slim unless the hacker returns them. The incident highlights ongoing security challenges in the crypto space. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Somebody__Online

Well since you have some crypto assets now, might get as well learn how to use them in the defi ecosystem. Depending on what you like to do and invest in there will be ways to earn while holding rather than just holding. For example I like ETH, rather than just buying and holding ETH in my wallet I stake the ETH with Lido for wstETH tokens (an index of ETH + the yield earned from staking). I then take that wstETH and add it to a liquidity pool paired with WETH. Ultimately the position is exposed to the price of ETH but it’s not just ETH but ETH + staking yield + trading fees + liquidity incentives for supplying to the pool. Rather than holding ETH and waiting, I’m holding ETH, participating in DeFi and making 15-30% on my ETH. That’s just one example of some DeFi you can do. It gets way more complicated if you want it to. But like I said, good time to learn while there’s no rush to sell

LeonFeloni

Take a chain that you really like, and think has a good core setup. Particularly, one with other assets on-chain. Example: I've been an Algorand Gov for years now. And while the largest share of my crypto is Algorand, I also hold on chain: goBTC (that is BTC wrapped on the Algo chain), goETH, wSOL, WBTC, WETH, am steadily increasing my share of the leading dex in the ecosystem: Tinyman's governance token while actively farming more. Algorand moved to offering staking for consensus participation, with its defi scene offering a number of liquid staking tokens (Folks Finance, Tinyman). Messina.One is a leading omnichain setup, offering liquid staking options as well as bridging Eth, BTC, Polygon, Avalanche, Arbitrum , BNB, Base, and Plume. An on-chain casino has an option to stake its token and take part of being the House, and sharing 50% of its profits with stakers. Dapps like Lofty.ai offers diversification into tokenized real-estate. MeldGold offers tokenized gold and silver, and has future plans for more metals For me, Algorand is still underwater. However, if you include what I've earned in the ecosystem, I've profited pretty well * a quarter or so of my algo at this point comes directly from using defi, I earn from participating with in consensus, I earn from depositing and lending my other crypto, from lending markets and LPs. So, what do you like a lot? What can you expand into it's defi scene to earn significantly more with your investments? What's stable, reliable, decentralized, cheap, and fast?

Lufia321

Thank you! I bought POL, supplied it, borrowed WETH against it, swapped that for USDC and then supplied that as well.

andys811

I've been stacking up on wstETH on base, can't get myself to hold ETH knowing I can get staking rewards ontop but I like the ability not have the funds locked up and then you can do wstETH-WETH liquidity pool on aerodrome and stake the pool to earn aerodrome as commission and earn trading fees while wstETH gets converted back into ETH. Just lil tips to get higher yield off your tokens I really like aerodrome finance and I normally just buy cbBTC with the AERO I get as commission

jcoffin1981

I can see approx 1500 XRP in BSC. It has been there for 4 years, but I'm just not sure I can move it. What I'm more concerned about is the approx $1,200 in WETH/SUSHI tokens I cannot find.

StatisticalMan

Yeah I think it is useful to track them but they shouldn't be on the main list. The same thing with wrapped coins (i.e. WETH, WBTC) and asset backed liquidity tokens (i.e. STETH).

SunliMin

When new terms/usages are being thrown around by influencers, sometimes it's hard to figure out the meat from the potatoes. Times like this, it's good to look to the big builders in the space and figure out where their heads are at. For example, lets look at Coinbase. On the CPD (Coinbase Developer Platform), they have a new product, AgentKit. Its a product that combines the rest of the CDP API, along with LangChain and some warpper/adapter logic around LangChain, to let you plug in your own models. They then have many agents they created (think many tools that the LLMs can use when working) that give it direct access to the CDP. I've been playing around with their quickstart. it takes 3 minutes to set up and plug in my own API keys to my preferred LLM model, along with my Coinbase API keys, and bamn, I have a AI powered wallet. It gives a chat interface and lets me say in plain English things like "How much WETH do I have?", "Send $100 of USDC to worthtip.eth", "Swap 0.1 ETH to USDC and then deposit the USDC into AAVE", and it will manage all these interactions for me. It's rather impressive, and its probably the most user friendly wallet experience I've seen. So from this, we can gather that Coinbase thinks that LLM's controlling wallet operations is a big enough upcoming need that they started building this. They likely think that either this will allow the creation of better user wallet experiences, or perhaps its to go beyond user wallets and allow treasuries (from DAOs, companies or people) to be managed autonomously. It could also be about just creating a building block here that eventually becomes just one feature of a larger product (i.e. USD => USDC minting via Circle/Coinbase, blend the web2/web3 financial worlds in such a way that the differences are fully abstracted from the user). I'm curious what the leading use case will be in 2-3 years. It seems like cool tech, but tech that is still finding its use case.

MichaelAischmann

UniSwap V3 offers a USDT pair & SaitaSwap has a WETH pair.

theartoflsd

Oh dahm, even more than I thought.. also WETH right?

MichaelAischmann

I feel only very few people in this sub are aware that you can earn 20+ community currencies on Reddit. They are memes spread across 3 different networks: Arbitrum, Polygon, Stellar. I don't want to endorse any of them as investment, just here to tell you that you can earn all of them for your participation in their respective subreddits. I've traded most of the memes into POL, WETH & XLM. All these tokens were helpful in many ways. They solidified my understanding of self custody, gave me opportunities to experience DEXs, improved my knowledge of liquidity pools & got me into decentralized finance. [https://rccmarketcap.com/](https://rccmarketcap.com/) is a list of most Reddit Community Currencies and will provide you with a lot of additional information as well as links to their respective communities.

HSuke

Actually, it's 100% on the Ethereum network. You mean 60% in ETH and WETH.

LPQ_Master

That's what I though too. It seems to be traded WETH/BGB, but for the life of me I cannot get it to swap with normal ETH, or WETH

Sufficient_Ad_8112

I tried going on raydium.io and connected my phantom wallet but my balance (WETH/ETH) doesn’t show up in raydium.

MichaelAischmann

What are your experiences with AAVE? I'm thinking about supplying some WETH & some POL on Polygon to earn yield on these assets. Anything I should be aware of?

Extension-Nobody-622

Stop trading and believe in something. Choose one you have full conviction on and hold it long term. That's where big money is made. Check out this video : [https://x.com/muststopmurad/status/1839732601759641960?s=46&t=6e7XaEO6M77um3MXJx3v5w](https://x.com/muststopmurad/status/1839732601759641960?s=46&t=6e7XaEO6M77um3MXJx3v5w) Check out those assets : [SAITAMA $0.005296 - Saitama Inu / WETH on Ethereum / Uniswap - DEX Screener](https://dexscreener.com/ethereum/0xf3f4dfd1b442c2baa4ef9d4d4cd4a4494ecfd845) [SATOSHI $0.8061 - Satoshi Nakamoto / WETH on Ethereum / Uniswap - DEX Screener](https://dexscreener.com/ethereum/0xf0d86adea54ee8c498f6d3e803a5d927d68831fa)

InclineDumbbellPress

Looking at Etherscan it shows several swaps from WETH to USDC so definitely cashing out

AbstractIdeas5

As an ETH maxi i had to adapt my strategy on this. Solution? I longed SOL with WETH on gTrade to capture the SOLANA price movement but also keep my weth. They are too precious.

SuccotashWorth9201

Look L2's are irrelevant to the cost of using ETH on its own network or bridging to WETH, i am talking about that and not any of its tributaries and what they do.

coinfeeds-bot

tldr; A crypto whale that had been inactive for over eight years has moved a significant amount of Ethereum (ETH). The whale initially acquired 16,636 ETH at an average cost of $11.21 in 2015. Recently, the whale transferred the ETH to a Gnosis Safe wallet and converted it into Wrapped Ethereum (WETH). The whale sold 788 ETH for $1.83 million in USDT and still holds 15,848 WETH worth $36.43 million. This move comes as Ethereum's price fluctuates, with the whale realizing over 20,300% gains from the initial investment. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; An ancient whale, identified by the address 0xe3e, has been quietly selling Ethereum (ETH). Recently, the whale sold 1,926 WETH for 4.416 million USDT at an average price of $2,292. This whale originally withdrew 16,636 ETH from ShapeShift in early 2016 when the price was $5.24. After holding the tokens for over 8.5 years, the whale has now sold 2,452 WETH for 5.644 million USDT. The whale still holds 14,185 WETH, valued at $32.8 million, with an estimated profit of $38.3 million. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; A multisignature wallet linked to Vitalik Buterin sold 190 WETH for $441,971 USDC. This follows a previous transaction where the wallet received 3,800 ETH from Buterin and sold 950 ETH for 2.28M USDC. The wallet still has 950 WETH available for sale. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

HSuke

Interesting. He owns $2M of ETH and WETH but no Bitcoin.

coinfeeds-bot

tldr; MetaMask, in partnership with Mastercard and Baanx, has introduced the MetaMask Card, allowing users to spend crypto directly from their wallets for everyday purchases. The card simplifies the process of using crypto for transactions by enabling direct spending of cryptocurrencies like USDC, USDT, and WETH on any purchase accepted by Mastercard. Initially available in a pilot phase in the EU and UK, the card aims to bridge the gap between blockchain and traditional payment systems, offering benefits such as security and speed. The collaboration seeks to enhance financial accessibility, especially in regions with significant unbanked populations. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

UrNs0

I've used Sushi Swap mainly and some Uniswap. Synapse Protocol is also good and supports many chains. Here is a link on the Wrapped Ether: [What is Wrapped Ether (WETH) | ethereum.org](https://ethereum.org/en/wrapped-eth/) On AAVE I am lending USDC on AVAX. So my interest is paid in AUSDC and my rewards are paid in WAVAX which I have to claim whenever I want. This WAVAX is a wrapped version of AVAX that I can swap to AVAX if I want or I can go swap that to USDC and lend even more. Compound is similar you get CUSDC and then get COMP as your reward/bonus. One thing I can't stress enough is to pay attention to what network your on at all times. Both AAVE and COMP are very good about making you switch to the correct network but just always double check. You send it on a wrong network to a wallet and funds can go missing.

Torsinnet

Thank you for your comments. I often see WETH: I have ETH, so how do I get WETH instead ? adoes it have the same value then ETH ? Which bridge do you use if you need to convert a coin into other chains ?

Legitimate-Ad-6385

Is the recipient an exchange or a private party? If it's an exchange, it's up to them if they want to help you or not. If it was a private party, they are able to retrieve it by just adding the polygon network and WETH token to whatever wallet they are using. Either way, if the recipient doesn't want to be helpful, you are SOL

WoodenInformation730

Impermanent loss is always bad, you want no volatility (volatility itself doesn't actually matter as long as you withdraw at the same rate) in the price of CONE/WETH so you earn the most money from fees.

DrinkMoreCodeMore

Pretty much lol Spending $0.003 or $30 in gas fees. WETH ftw

Somebody__Online

I use a Trezor hardware wallet with my windows PC I use Rabby chrome extension or MetaMask for obscure shit and connect them to “Hardware Device” both sides f those wallets use the same trezor. They are interchangeable. I prefer Rabby for the transaction simulator before signing a transaction. (If your new to crypto, Rabby makes it super easy to use ETH and ETH layer 2 chains) I then sign into GMX with Rabby and make a “one click trading” wallet in the interface. That will be the hot wallet that signs transactions backed by funds in my cold wallets on my trezor. Then I fund the one click wallet with some WETH to pay gas for fees when I trade. Now that it’s all set up the trading is super easy. Just setting my buy and sell limits and adjusting positions all from the GMX one click interface without needing to use the trezor each time to sign the transactions. It makes it super simple to pop in on a positions adjust a Stop Loss or Take Profit or even adjust collateral of open futures positions all while not needing to constantly pull out the hardware wallet

Plankton-Illustrious

# “The storm is coming, and there are two choices: get out of its way or learn to dance in the rain.” X: @BASEDJIGGLY DEXSCREENER: Check out BUFF/WETH on DEX Screener! [https://dexscreener.com/base/0x6eC8F93A765D763a2Cc8dF94E4445524C03Cb53E](https://dexscreener.com/base/0x6eC8F93A765D763a2Cc8dF94E4445524C03Cb53E)

Big-Finding2976

I looked into it, but that's not going to help unfortunately. Trading ETH to USDT wouldn't cost much, but Kraken charge $8 to withdraw USDT on the ETH chain. It's only $1-3 on Arb One, Optimism, Polygon, Solana or Tron, but I don't think you can swap USDT to ETH on those, only to some other token that represents ETH. Another issue is in my country we have a rule where we can't buy back a coin within 30-days of selling it, else it makes the tax situation complicated. If I did withdraw USDT on the ETH chain and trade it for WETH, I could hold that for 30 days and then trade it back to ETH, but I checked and even if it waives the network fee, I'd still lose $10-20 on each trade, so it's cheaper to pay the 0.003 ETH fee to withdraw directly from Kraken.

coinfeeds-bot

tldr; UwU Lend, a DeFi protocol co-founded by Michael “Sifu” Patryn, experienced a $19.3 million exploit. A single wallet extracted various tokens, including WETH and WBTC, and traded them on Uniswap. The method of the exploit is currently unknown. UwU Lend, which offers lending, borrowing, and asset management, had prioritized security with code forked from AAVE V2 and underwent audits. The protocol has not yet issued an official statement regarding the incident. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Mikey40Hands

Base is on 🔥 and this one is an absolute SAVAGE and no signs of stoppingn!!! Less than 24 hours old and the numbers are insane. Ads and everything start on Tuesday. 5m market cap on the way. Get ittttt 💪🏼💪🏼💪🏼 Check out AEROBUD/WETH on DEX Screener! https://dexscreener.com/base/0x51b8F730F8BF77236E6040Cc503A560B3C52E12c

Semmeth

WETH, BETH. Maybe he meant that

SunliMin

It feels like context is needed here, both in that article, the title and comments. There are not "over 2.4m crypto projects". There are over 2.4m ERC20, ERC721 and ERC1155 contracts deployed. When a new ABC token comes out and someone makes a liquidity pool of it and WETH, that pool that was deployed is a new token being tracked, same with the ABC:WBTC, ABC:DAI, etc, each new pool gives you a token that is effectively your receipt to track how much you own of the backed assets for the withdraw, and that receipt is a contract per pool per defi app. This is also true with any form of staking. Defi apps use other tokens as receipts, but it does not make each of those token its own "project". Theres also the case that not every contract that exists is even built to be used. These numbers include Polygon and other sidechains. As a dev in this space, I have deployed probably... 30 or 40 NFT contracts to that blockchain. These aren't monkey NFTs to be traded, they are underlying infrastructure of our core products. In fact, at my current job, our NFTs are built to fail to transfer if it detects its being transferred by a 3rd party contract, because we explicitly do NOT want it to get picked up by defi apps, because our use case is not the average token use case, and it would go against our goals. All that is to say, this 2.4m number is wrong. If by "projects" they meant "dapp", the number is inflated at least 10:1, but probably closer to 50:1. For example, Uniswap V3 on mainnet Ethereum has 958 markets, so the 3rd version of Uniswap on one network accounts for nearly 1,000 of these "projects". Now imagine this for every version of Uniswap, across every chain, including every fork. Now imagine that same logic, but applied to Compound Finance, AAVE, every single Defi app on every chain and every fork. Easily hundreds of thousands are just from those big defi apps and clones alone.

Wheels_McFantini

1. To Mog the world 2. The community that formed around the project was absolutely electric. Many other tokens lose their community entirely when the price goes down. The Mog community got bigger and more active when the price went down. There's something magnetic about people having fun on the internet regardless of price. 3. We cater to a culture of perseverance, relentlessness, manifestation, hard work, and effortless cosmic domination. 4. Mog was a fair launch coin, with no marketing budget. The LP is locked. 5. The 10 team members that funded the deployment received 12% of the tokens at launch. \~7% of the tokens were burned by anti-sniper-taxes in the first few blocks. The remaining 81% went directly into the Mog/WETH liquidity pool. 6. Ownership of the Mog contract has been renounced, the contract is now immutable.

Hunter-North

Gimme the address, I may transfer 20 fake WETH to it

coinfeeds-bot

tldr; A crypto investor lost over $71 million by sending 1,155 Wrapped Bitcoin (WBTC) to a scammer's address due to a poisoned address attack. This phishing method involves scammers creating addresses that mimic legitimate ones, tricking victims into sending funds. The scammer has already transferred the WBTC to various wallets and converted them to Wrapped Ether (WETH). *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

No-Tackle-8652

38.8% (the top 2 "accounts") are the beacon chain contract and the WETH contract. So the real number is 18.35%

LazurusDemon

Just checked [coinmarketcap](https://coinmarketcap.com/currencies/tribe/) and there's a TRIBE/WETH pair on uniswap v3.

coinfeeds-bot

tldr; Chainlink has launched Transporter, a new app designed for hyper-secure cross-chain transactions, utilizing the Chainlink Cross-Chain Interoperability Protocol (CCIP). Transporter aims to simplify the transfer of large token values and critical messages across different blockchains, starting with support for Arbitrum and Ethereum. It features an easy-to-use interface, 24/7 support, and a visual tracker for transaction monitoring, charging only for CCIP usage without additional fees. Early adopters include venture capital firms Fourth Revolution Capital and Moonrock Capital. Additionally, Chainlink introduced a new token transfer mechanism within CCIP for native ETH transfers through WETH token pools. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

LargeSnorlax

That's because no one (especially here) actually uses Crypto. The amount of people that I've seen asking what a private key is or asking why they shouldn't stake on exchanges makes my brain explode. Don't get me wrong, SOL's had its growing pains, especially in 2021. It's had plenty of problems. But let me tell you, if you have the wrong amount of Gas, or if the network is congested, you just try again at another time, you don't have to do [some frankenstein creation of nonce manipulation like you have to on eth to rescue your transaction](https://www.youtube.com/watch?v=J6xbcjNDFO0) and you don't have to wait days until Bitcoin finally cares about your transaction that maybe didn't pay slightly enough gas to get included. All these people that are always talking about using L2s - You think anyone outside the Crypto sphere is using L2s like Arbitrum or IMX unless someone metaphorically holds a gun to their head and forces them to learn how to? The people in this space *don't know how to use a wallet*, let alone get to or use a L2. WETH? What the fuck is that? Bridging? Base? Huh? Ape only click Coinbase wallet, no know fancy words. SOL you send and you use. That's the appeal. Some people are priced out of chains [where sometimes it costs $100 to make a transaction you want to do](https://i.imgur.com/jlk2LbA.png). Weirdos who refuse to acknowledge that "their" chain has any flaws will try to poke holes in this but the reality is that some people **don't want to deal with that bullshit** which is why many users are flowing over to SOL and congesting it.

WoodenLeader1083

Is it strange to receive ETH when I withdrew from a liquidity pool on some dodgy L2 dapp instead of the WETH I supplied? Or is that common? They unwrap it ??

OMFGROFLMAO2

Did you send ETH or WETH?

coinfeeds-bot

tldr; Decentralized cryptocurrency exchange FixedFloat has reportedly suffered another exploit, resulting in the loss of nearly $3 million worth of cryptocurrencies including Ethereum (ETH), Tether (USDT), Wrapped Ether (WETH), DAI, and USD Coin (USDC) from its hot wallet on the Ethereum blockchain. An unknown entity used a smart contract for token swapping to facilitate the transactions. This follows a previous attack in February where FixedFloat lost $26.1 million. The company has not yet issued a public statement, and its website is currently down for maintenance. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Cannister7

It's AIX. It's an ETH based token. I swapped it with ETH (WETH), but it's now been listed in the exchange so I want to send it there. Yeah maybe I didn't have the network set for ETH on the exchange. Going to sleep now, I'll check tomorrow. Thanks

bubbafry

WETH is almost completely risk free relative to ETH. It’s so risk free that it’s probably questionable whether or not ETH to WETH is a taxable event, since they can always be exchanged 1:1 100% of the time. WETH is “wrapped ether”. There is a smart contract on ETH that takes your eth, locks it, gives you WETH back. WETH can do certain things that ETH can’t from a technical perspective. But as long as the smart contract is not compromised you can always burn the WETH and get 100% ETH back minus gas, and there are no fees to do this (other than gas). It would be extremely surprising if a compromise would be found at this point but you can never say never. Wbtc is a little more complicated because you are bridging between different blockchains, since WBTC is on ethereum network. Though the idea behind it is the same as WETH

nutyourself

> cannot be used within smart contracts Sorry but that is not correct. A smart contract CAN receive and send ETH. I know this because I work with these contracts all the time. And, like I said, think about how WETH works! The WETH smart contract receives ETH and sends WETH. And vice versa when you send it WETH, it sends you ETH. We good now?

Throwaway4VPN

WETH is Wrapped ETH as an ERC-20 token. ETH is the native token, it is NOT ERC-20 standard and cannot be used within smart contracts....

FuckAntiMaskers

Does anyone have the link to trade moons to WETH to trade for cryptos on ETH?

nutyourself

Smart contracts can use eth. How do you think WETH works?

Throwaway4VPN

It actually doesn't, ETH can only be used by and EOA and not within smart contracts. ETH needs to be wrapped even on L1 to work on a smart contract, other than for gas from the EOA calling the contract. If you look at uniswap LPs on Ethereum for example they are TOKEN/WETH. The reason for this is smart contracts need to approve token usage (amongst other functions), and ETH is not a token.

Throwaway4VPN

I mean not the best example since Ethereum and all L2s also have WETH... ETH on L1 is not an ERC-20 so cannot be used in most DeFi until converted to WETH.

TopAlert2383

Matic is it's own chain that's EVM compatible. It's not an L2. That's why they have WETH. Polygon has a new L2 that actually settles on ETH.

bass619

Are there any plans to increase liquidity on Uniswap? perhaps merge the USDT pool with the WETH one?

FuckAntiMaskers

Sushiswap V3? That's on Arbitrum Nova right? If you swapped Moons for WETH on there from MetaMask, what's the process of getting that WETH available to trade for other crypto on Uniswap Ethereum?

vattenj

L2 centric is bad, since all L2s have different names, just like a totally different coin. What is the difference between ETH on arbitrum or WETH on bsc？They are actually the same thing, both from operational and functional view

vattenj

Sounds good on paper, never works in reality. You can not just move coin to L2 and enjoy it, because you have to constantly interact with most of the ETH addresses that resides on L1. In one word, unless most of the ethereum users have migrated to L2(And I highly doubt it due to so many confusing names in L2), moving ETH to L2 means you basically get an altcoin like WETH on another chain, this is already enough to discourage many people

60minutesmoreorless

I don’t have the technical knowledge to fully agree or disagree, but from my own frustrating user experience navigating several different L2’s and bridges etc, you might be right. How does it matter if the L2’s are “cheap” when you have to spend so much ETH to even move anything into an L2, then spend more ETH to do anything with it, then spend more ETH to bring it back to the real world and do something with it or cash out etc. Tometimes you need to swap for WETH instead of ETH, which will always remain confusing as F. I don’t invest in ETH because I know I’ll blow my entire pile on fees as soon as I want to move or do anything with a single coin or token.

60minutesmoreorless

Thank you, I figured it out most of the way, but now I’m baffled by the WETH part and what I do with it, if I swap Moons for ETH, then at what point does it turn to regular ETH again and I cash out? I’m almost there hah

60minutesmoreorless

Right? Some random good news. What method did you use? I must admit I’m confused by ETH vs WETH, I’ve had crypto disappear on me before on the Matic bridge etc. I’ve heard use Sushiswap to flip Moons for ETH (lose 30% of your pile to fees) and then send what ETH you have left back across the bridge to the Ethereum mainnet? Does WETH figure in at all? Haha

virtual_black_whale

WETH is ETH that has been wrapped into an ERC-20 token, it makes it easier for Uniswap to work with native ETH. On Uniswap you can select ETH or WETH as input or output and it will handle the wrap/unwrap for you. The pair being used will be the same for both, just choose the one you want in the list. A lot of dex also allow you to wrap/unwrap you coins by selecting ETH/WETH as a pair. It's free and you only pay for the gas.

Smiling_Jack_

The only coin on Ethereum is ETH itself. What you see as other coins are tokens, which are smart contracts that generally conform to the ERC-20 standard. DEXes tend to employ AMM pools, which pair two tokens with each other. ETH itself is not a token, so it doesn't sit in these pools (unless lots of extra programming is done). That's where WETH comes in. Since WETH is a token, it can be paired with other tokens in AMM pools.

CallingMicrosoft

I think I get what you're saying, so after I would purchase them with WETH, it would just be (Coin) on the Ethereum network then right?

EchoCollection

No I went through WETH on HOPR

EchoCollection

JUP loads a lot faster for me and it did something I've never seen before. I bought a memecoin on Jupiter today and it bought it for me through radium (probably utilizing their liquidity). Kind of like how swap dapps go USDC -> WETH -> ERC-20 COIN

iaco56

It worked thanks! Now how do I bridge it to another crypto like ETH or something from WETH on Arbitrum nova? This is such a pain in the ass!

FuckAntiMaskers

I want to trade some moons for a token that's on Uniswap V2 and paired with WETH. Does anyone have a guide on how to do this easiest/cheapest?

FuckAntiMaskers

Would you know if I swapped my moons to WETH on RCP Swap, would it cost much to then send that WETH to another DEX to trade for other tokens on ETHs ecosystem? 

Smiling_Jack_

Guise I just sent WETH from my BNB wallet to my Arbitrum wallet but I don't see it there yet. How long do I need to wait?

Citadel_Employee

Out of curiosity does something like WETH face similar issues? Or is it more protected since everything is on Ethereum, and therefore a smart contract could mint/burn the WETH. And if that is the case would a smart contract hack result in a similar outcome to the one described with Bitgo and wBTC?

secret__savage

Yes. Look into MOG/WETH

majorpickle01

WETH is a decentralized smart contract and is pretty much as good as regular ETH (obvious bugs apply but WETH has been running fine for years and is a relatively simple contract). the WBTC has a custodian I believe, although all reserves are on chain. But it's been running since 2019 with no issues so it's basically as safe as it gets for BTC on defi. The price will not always be 1:1 on exchange, because anyone can buy and sell for whatever price they like. The price will always trend to 1:1 though because of arbitrage - if WBTC is 5% cheaper for example on uniswap, people will buy it and unwrap it to get 1 BTC making a profit. In reality gas fees and such often mean that a small discrepancy in price will exist. But it's nigh on 1:1. Exactly the same as USDC or Tether - fully redeemable but nearly always priced at 0.999999 or whatever. OF course, if a lot of people REALLY want tether or usdc, they'll bid above par, so it'll go to 1.000010 or something. TLDR: they are fine. If you want to long term hold use ETH not wETH and BTC not WBTC. If you want to trade and swap, it's fine to use the wrapped equiv

DrinkMoreCodeMore

I put half my ETH on WETH on OP just so I wouldnt get rekt by L1 fees.

HSuke

It's a good concept, but I think there are 2 issues preventing this from gaining major traction: 1. EIP-4337 style AA is very expensive. When doing this on the Taiko A6 testnet, it costs 15x as much to transfer WETH using AA than it does natively. 1. This is a completely separate issue from AA and only affects the Loopring wallet. Currently, it costs nearly $200 to activate the Loopring wallet on L1 + L2. Even the $10 it costs to activate the wallet on L2 is expensive.

coinfeeds-bot

tldr; Brokkr Finance is migrating to Arbitrum after burning 45% of all tokens, aiming to build superior strategies and vaults, including V3 Delta Neutral Strategies. The migration will be smooth, with tokens airdropped into wallets without manual linking. The migration includes wallet, staking, and LP balances, as well as staking rewards, using a snapshot from Feb 12th. Staking balances will have a 31-day lock period. A bug in the staking rewards mechanism was fixed, removing the unstaking period. Post-migration, a BRO-WETH 1% pool will open on UniswapV3. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

ale23arg

They are not that new... But right now most of my crypto investment (about 50k) is within the Ronin ecosystem. Ronin is an L2 dex. Just got introduced into binance and it's been announced it will get into coinbase. I'm have most of it on a liquidity pool if WETH-Ron that gives about 30% apr in liquidity rewards and about 70% apr in Ronin as staking rewards. Now that sounds too good to be true because it never lasts .. 3 months ago when Ron was about 0.5 the staking rewards were about 30% because you were rewarded on a token that had a lot less value than what it has now.... Also starting March 1st starting rewards will be halved so I'm expecting that 70% come back to 30% which is still pretty good. Everything here is hot without risks .. if the token tanks back to .5 my 50k would go to like 10k.... Even though I keep getting rewards on said token.... Doing some basic analysis of the chain is direct competitor would be imx. Ron has way more active users and daily active wallets and I believe those are real people vs imx model which kind of gives incentives to bots since most ofb it is transaction based. IMX has a market cap of like 4.3 bill and Ron is like 0.8 B. Now that's mostly because of circulating supply vs supply. Ron has a fixed supply of 1b tokens but it has yet to be distributed fully (and won't be for some time) but if we estimate the market cap based on the total supply ron should be 3b instead of 0.8. I am still very bullish on RON and it's ecosystem. One of the main games from polygon migrated over with five success and now imx is losing projects to Ron.

coinfeeds-bot

tldr; Aave is advancing a proposal to launch a $5M quarterly incentives program named "Merit" to encourage adoption and reward users. The program aims to distribute rewards in wrapped Ether (WETH) and Aave's GHO stablecoin for actions aligned with Aave's strategic objectives, enhancing its competitiveness in the DeFi landscape. The rewards are planned for users engaging in specific activities such as borrowing against deposits, staking, participating in governance, and migrating funds from rival protocols. The proposal, currently focused on Aave's v3 deployment on Ethereum, seeks to incorporate community feedback before proceeding to a final vote for implementation. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

VoxImperii

I’m really curious: where do you see what you got? I’ve had Atom staked for quite a while but all I see is tiny amounts of bullshit (WETH, some random tiny dust coins) when I got to staking overview. Do they airdrop directly into your wallet or what?

Machete521

I just tried it for WETH, ETH and BTC on Ledger Live Unfortunately Coinbase is not the best. They charge higher fees. Moonpay and others are better.

TechnoRanter

The biggest thing that makes me concerned for ETH right now and makes me cautious to build bags is how the L1 L2 situation is. L1 is so expensive that L2s are the only real solution for the masses, but they still don't carry the same security as the base chain. Until they do, I feel skeptical towards the future of this platform. I'm an Algo user and consider buying WETH and holding some there, but wrapped tokens have their own problems in terms of trust and I'd much prefer to hold on native chain, something complicated by the gas fees :{

Kamikaze_Cash

Well here’s an example. Yesterday, I had WETH in a Coinbase wallet. I wanted to move this to a Trust wallet. I could unwrap the Eth and then move it that way. Or, I could send WETH to my Trust wallet. Trying to receive WETH on Trust gave me like 10 different options with funky names like Axios, aSync, stuff like that. I had no means of determining which of these options (networks?) the WETH was on in Coinbase wallet, and idk what happens if I choose the wrong one. So that’s out. So I had to unwrap my Eth and pay a fee to do that. Then I wanted to move my Eth from Coinbase wallet to Trust, for another fee. Trying to send that Eth gave me another big list of options. What are these options? Networks? For some coins, you don’t want to send something on the wrong network. The coins can just disappear into a black hole. I had no idea if my Coinbase wallet Eth was on some funky network, so I did what I know how to do, and send Eth to an Eth wallet on the Eth network. $7 fee. Idk which coins don’t have multiple networks. Idk what happens if I choose the wrong network. Idk where to even begin figuring it out. Fortunately I mostly just hold as a speculator and I’ll eventually sell when prices hit some arbitrary point I’m happy with at the time.

jbtravel84

Hello! 0xa9C0cdEd336699547aaC4f9De5A11Ada979BC59a is OpenOcean. The hacker swapped your WETH to ETH there. Your funds were first sent to **0xa6738B57f78b1af7F3CC94b107F888d7E40bCD12** which is an intermediary wallet /w this txn - [https://etherscan.io/tx/0x3460eafd59762a34257a316c3a2cca8df5b7ee4c4c4445f6d0d235aa36b03d06](https://etherscan.io/tx/0x3460eafd59762a34257a316c3a2cca8df5b7ee4c4c4445f6d0d235aa36b03d06) There's a couple of deposit addresses here but your funds aren't in there. * 0xc5C4417Cee32E708Ac61C36D656b68402ff87ae5 - ChangeNOW * 0x0302A905F0Ca867646Df0c5F63c6C58F7Ce069cd - AlphaPo Your funds were sent to **0x97dc5b190FB6E8a793803191356aaf6475adf0a7** with this txn - [https://etherscan.io/tx/0x018c66886038db5e17585138643f5a98abe50d1e3047e0c198149f532b8ca82b](https://etherscan.io/tx/0x018c66886038db5e17585138643f5a98abe50d1e3047e0c198149f532b8ca82b) Inside **0x97dc5b190FB6E8a793803191356aaf6475adf0a7** I see a number of deposit addresses where your funds went. Based on the timestamps your funds most likely went into one or multiple of these three deposit addresses * 0x9C6D589B7e6Cea55138A3ea1E0AC615126290ED2 - Binance * 0xa888Abedf5Dff6E6051B7f983B43FC092471C166 - SimpleSwap * 0xaFe8243dC68B0fFfaf4F83a26d99bb33bB61Ebb6 - SimpleSwap This scammer appears to be doing most of his deposits in 20 ETH deposits. Other deposit addresses presumably from more victims include: * 0x13A4679A7A28D0d98Ecb773ac79cEf9B56294669 - FixedFloat * 0x70EB5a38786c83C8B185e3985b44E421Ca03F3Ef - exch * 0x1ca8a5f0816e07751963E5b0cDfe1b18d192dfbe - exch * 0x53c783259eAadADe777fC2d057D3fC0B30c3Dd7f - SimpleSwap * 0x754D98267d0351D842F0de1C28FA27D91c59949A - SimpleSwap This looks like some sort of phishing scam based on the recency of the transactions and other victims involved. Hope this helps!

roastedbagel

Yup did the same but with Binance and the polygon chain. Sent $100 worth of WETH to my regular ETH Binance address but on the polygon network. Technically that ETH address belongs to my Binance account just like the ETH chain address does... And looking at the blockchain It's still sitting there today, 2 years later, and pisses me off anytime I think about it. Binance could absolutely just send it back or even use the api to withdraw it out but they refuse to and want $500 due to "the complexity of recovering"...i call foul, Hell I'm pretty sure I could even use the api myself to withdraw it and gain custodial access by authentication but it says "chain not supported" when making the call through postman. Again, that's their API deliberately not allowing access, not cause of a technical limitation. So stupid...

MinimalGravitas

What does 'soy onions' mean? Also, you are honestly doubling down here? ETH isn't a 'token'. You can't grant permission for a dApp to spend it. That's why WETH (Wrapped ETH) exists, dApps can only be given permission to use non-native assets, like ERC-20 tokens. So yes, you seem to be demonstrating a perfect example of the Dunning-Kruger effect.

lohitcp87

I think they moved his WETH..

wealth4good

You're correct, WETH is just wrapped ETH so it can be moved on different networks either on a centralized exchange or for some other reason to transport the ETH.

bricarp

There's two reasons to wrap coins. The most common reason is to bring it to another chain. Have you ever been to a casino? How do you gamble at a blackjack table? You have to use the dollars to buy chips, then you either win more chips or lose those chips, and then you redeem the chips for actual dollars again. But the key distinction here is: **you don't actually gamble with real dollar bills**. So if a casino chip says it's worth $100, how much is it actually worth? There's two right answers: * It's worth nothing. It's not real money. It's just useless clay. * It's worth $100, because I believe this particular piece of clay is redeemable for a real $100 bill at my request. That's what something like WBTC is. It's a casino chip. WBTC is an ERC-20 token. WBTC does exist on the Ethereum network. It's not real BTC, but as long as you believe that it's redeemable for actual BTC, then it should have the same value as BTC. You can't use real dollars at a blackjack table and you can't use real BTC on the Ethereum network. But you **can** use clay (which represents dollars) at a blackjack table and you **can** use WBTC (which represents BTC) on an Ethereum DEX. Others have mentioned that it is possible to wrap a coin on its own network. I think you deal with this second situation far less often. The short version of it is that ETH is a coin that is used to pay network fees. Coins are meant for network fees. Coins aren't meant for trading. So, WETH is a token that potentially still exists on the Ethereum network: * It's a token, which means it can be traded. * It is redeemable at a 1:1 ratio for the real ETH coin, and therefore WETH should have the same value as ETH.

CoverYourMaskHoles

ETH is transacted on the actual Ethereum chain. ERC-20 tokens are contracts on the blockchain. To easily swap Tokens you have to wrap the ETH into ERC-20. Which means you lock the actual ETH into a contract and then it is minted as WETH in the contract. It’s just how it works.

HSuke

Yeah. Most of the people responding to you are giving pretty shitty answers because it's hard to explain without understanding smart contracts and liquidity pools. For example, Smart contracts can't spend your ETH. WETH allows you to give approval to another contract to spend your ETH, which is needed for swaps. The other contract is interacting with additional liquidity pools and other contracts, so they need to be able to spend your ETH.

Smiling_Jack_

WETH on Ethereum is completely different from WETH on Binance, or WETH on TRON, or WETH on Solana. And 'Wrapped' is a bit of a loose term. While there are explicitly defined standards for fungible tokens on various chains (ERC-20 on Ethereum, BEP-20 on Binance, TRC-20 on Tron etc.) that these 'wrapped' assets conform to, there are no strict rules for the process of minting them. The quality of the smart contracts minting these various tokens (and again they are all different tokens) is very important. And there are many different approaches to creating these smart contracts, aka bridges.

Cannister7

But are they both referred to as WETH and with that ticker? That would be very confusing, is what I mean. It's no wonder I was asking this question and people are giving me conflicting answers

Cannister7

Wait, so there are two different types of WETH? 😩

alterise

You can't use ether (ETH) directly for defi, it's the native *coin* on ethereum and apart from being transferred from one wallet to another, it's used to pay for gas fees. To use ETH in defi on ethereum, you need a token. The most common and widely used token standard is ERC-20. This is where WETH comes in. It's a smart contract that mints WETH for every ETH deposited into it. So when you swap ETH for another token on any dex, what happens is this: 1. ETH is deposited into the WETH contract which mints the corresponding amount of WETH 2. WETH is transferred into the Liquidity Pool address and the corresponding token you swapped for is transferred to you. The reverse happens when you swap any token for ETH.