Bridged Wrapped Ether (Stargate)

WETH Price

About Bridged Wrapped Ether (Stargate) (WETH)

Bridged Wrapped Ether (Stargate) is a multi-chain representation of Ethereum's native asset, designed to enable the seamless transfer and utility of Ether (ETH) across different blockchain networks through the Stargate Finance protocol.

• It utilizes the LayerZero interoperability protocol to facilitate secure and efficient cross-chain transfers between supported networks like Fantom and Kava.
• The asset maintains 1:1 backing with native Ether, ensuring that users can redeem their bridged tokens for the original asset on the Ethereum mainnet.
• It serves as a core liquidity component within the Stargate ecosystem, allowing users to access decentralized finance (DeFi) applications on non-Ethereum chains while maintaining exposure to ETH.

What Is Bridged Wrapped Ether (Stargate)

Bridged Wrapped Ether (Stargate) is a tokenized version of Ether that has been bridged from its native Ethereum blockchain to alternative networks using Stargate Finance. It acts as a bridge-specific derivative, allowing the value and utility of ETH to be utilized in ecosystems where native ETH is not directly available.

Value moves through the system via the Stargate bridge, where native ETH is locked or swapped into a liquidity pool on one chain, and a corresponding amount of Bridged Wrapped Ether is provided on the destination chain. This mechanism ensures that the total supply of the asset across all chains remains consistent with the amount of underlying ETH secured by the protocol.

The token is "put to work" primarily as a medium of exchange and a source of liquidity in cross-chain swaps. Users can stake the token in liquidity pools to earn protocol service fees or use it as collateral in various lending and borrowing protocols on the destination networks. As the ecosystem grows, the scalability of the asset is tied to the total liquidity available in Stargate's unified liquidity pools, which aim to eliminate the need for fragmented liquidity across different bridges.

What Makes Bridged Wrapped Ether (Stargate) Unique

• Unified Liquidity: Unlike traditional bridges that use fragmented "wrapped" assets, Stargate utilizes unified liquidity pools to ensure that bridged assets are backed by the protocol's shared reserves.
• LayerZero Integration: It is built on LayerZero, an omnichain interoperability protocol that uses decentralized oracles and relayers to verify cross-chain messages without relying on a centralized intermediary.
• Instant Guaranteed Finality: Stargate provides a guarantee that a transfer initiated on the source chain will successfully arrive on the destination chain, significantly reducing the risk of failed or reverted transactions during the bridging process.

What Can You Use Bridged Wrapped Ether (Stargate) for?

• Cross-chain Swaps: Users can swap native ETH for WETH on chains like Fantom or Kava in a single transaction, facilitating rapid movement between ecosystems.
• Liquidity Provisioning: Holders can provide WETH to Stargate Finance liquidity pools to earn a portion of the transaction fees generated by the protocol.
• DeFi Utility: The token can be used across various decentralized applications (dApps) on supported networks for activities such as lending, borrowing, and yield farming.
• Arbitrage: Traders can exploit price discrepancies between ETH on different chains by moving value through the Stargate bridge efficiently.

How Does Bridged Wrapped Ether (Stargate) Work?

Bridged Wrapped Ether (Stargate) operates using the Delta Algorithm, a resource management balancing property that enables unified liquidity across multiple chains. When a user initiates a transfer, the protocol checks the available liquidity in the destination pool. If sufficient, the transaction is processed through LayerZero's messaging layer.

LayerZero uses a combination of an Oracle and a Relayer to verify that a transaction happened on the source chain. The Oracle provides the block header, while the Relayer provides the proof of the transaction. This dual-verification system ensures that the destination chain only processes transactions that have been confirmed on the source network.

Users pay protocol service fees for cross-chain transfers, which are distributed to liquidity providers and used to maintain the protocol's infrastructure. These fees help rebalance the unified liquidity pools to ensure that assets are always available for bridging across the network's supported paths.

Team Info and Investors

The project is developed by the team behind Stargate Finance and LayerZero Labs. LayerZero Labs has received significant backing from major venture capital firms, including PayPal Ventures, Google, and a16z. Stargate Finance is governed by a decentralized autonomous organization (DAO) where STG token holders vote on protocol parameters and upgrades. While the source does not specify individual founder names for this specific bridged asset, it highlights the broader backing and technical foundation provided by the LayerZero network.

Where can you buy Bridged Wrapped Ether (Stargate)?

WETH tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Bridged Wrapped Ether (Stargate) is WAGMI (Kava), where the most active trading pair WETH/USDT has a trading volume of $18.25 in the last 24 hours.

What is the daily trading volume of Bridged Wrapped Ether (Stargate) (WETH)?

The trading volume of Bridged Wrapped Ether (Stargate) (WETH) is $19.57 in the last 24 hours, representing a -37.30% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Bridged Wrapped Ether (Stargate) (WETH)?

Bridged Wrapped Ether (Stargate) (WETH) reached an all-time high of $5,653.37 and an all-time low of $978.42. It’s now trading -67.60% below that peak and 87.30% above its lowest price.

What is the market cap of Bridged Wrapped Ether (Stargate) (WETH)?

Market capitalization of Bridged Wrapped Ether (Stargate) (WETH) is $143,050 and is ranked #- on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of WETH tokens (78 tokens are tradable on the market today).

What is the fully diluted valuation of Bridged Wrapped Ether (Stargate) (WETH)?

The fully diluted valuation (FDV) of Bridged Wrapped Ether (Stargate) (WETH) is $143,050. This is a statistical representation of the maximum market cap, assuming total number of 78 ETH tokens are in circulation today.

How does the price performance of Bridged Wrapped Ether (Stargate) compare against its peers?

With a price increase of 2.70% in the last 7 days, Bridged Wrapped Ether (Stargate) (WETH) is outperforming the global cryptocurrency market which is up 0.60%, while outperforming when compared to similar Kava Ecosystem cryptocurrencies which are up 0.00%.

How to add Bridged Wrapped Ether (Stargate) (WETH) to MetaMask?

Adding Bridged Wrapped Ether (Stargate) (WETH) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import WETH as a token. You can copy WETH’s contract address (0x695921034f0387eac4e11620ee91b1b15a6a09fe) and import it manually, or if you've installed MetaMask's chrome extension, add WETH to MetaMask with one click on CoinGecko.

Add WETH to MetaMask.