WETH
Wrapped ether: an ERC-20 token representation of ETH created by a wrapping contract.
In more detail
ETH is Ethereum's native currency, while many DeFi contracts expect the ERC-20 interface. WETH provides that interface. A conventional WETH contract receives ETH when creating WETH and returns it when unwrapping. The contract address and network identify the actual token, even when names look familiar.
How you might use it
"The pool wants WETH, but my balance is ETH. Wrapping gives it the ERC-20 interface the pool expects."
- Written out
- Wrapped Ether
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