What are ERC-20 tokens?
Weth coin
To wrap Ether tokens, one just needs to send ETH to a smart contract which will generate wETH in return and lock up the ETH as a reserve backing the wETH. WETH Quarterly Returns Before we go any further, let’s briefly explain the concept of wrapped coins to you. In the Cryptoverse, a wrapped coin is a prototype token pegged to the original coin's value that can be unwrapped at any point. Almost every major blockchain has a wrapped version of its native cryptocurrency like Wrapped Bitcoin. A smart contract reproduces the price of an ETH in real-time for the Wrapped Ether. So you can always trade Wrapped ETH with Ether at a 1:1 ratio. Similarly, all other wrapped coins such as WBTC, etc., can be redeemed for the original asset at any time.
WETH Price Chart
Crypto weth
They are a form of wrapped Ether that follows the ERC-20 token standards and is, therefore, a type of Ether itself. Uniswaps’s major activity involves ERC-20 tokens, which means that one needs WETH to participate in this platform. This allows users to change their ETH to WETH to be able to do liquidity provisioning and make token swaps. The coin is currently trading at $1,912, and 24-hour volume is at $1,042,815,699. Credit Card One of the major advantages of WETH is that it enables ETH trading on decentralized exchanges (DEXs) that exclusively support ERC-20 tokens. Without WETH, trading ETH on these exchanges wouldn't be possible, as they are designed to interact only with ERC-20 tokens.
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