Wrapped eETH (weETH): A Stable Asset for DeFi

Wrapped eETH (weETH) is a cryptocurrency that represents staked Ethereum while maintaining a constant token balance. Unlike its counterpart, eETH, which is a rebasing ERC-20 liquid staking token, weETH is a wrapped, non-rebasing version, making it ideal for DeFi protocols that require stable token quantities. Pegged to eETH through a share system, weETH reflects the owner's stake and accrued rewards, enabling users to earn native ETH staking rewards and EigenLayer Rewards while participating in various DeFi protocols on Ethereum and compatible Layer 2 networks.

Users can mint eETH on platforms like ether.fi and wrap it to create weETH, allowing them to earn rewards without automatic balance adjustments. This stability is crucial for integration with other DeFi protocols. By converting eETH to weETH, users can enhance their earning potential while maintaining the composability needed across various DeFi platforms.

Trading for weETH will be available on Bitget and other exchanges starting on the 4th, adding to the growing interest in liquid staking and DeFi. It will be interesting to see how weETH evolves in the future. What are your thoughts on its potential impact on the DeFi landscape?