So we have ETH is but what is WETH (Wrapped)?

Updated: Jul 14, 2021

Ether and its wrapped ERC-20 representation


Ether, or ETH, is the native token of the Ethereum blockchain. Wrapped ETH, or WETH, refers to an ERC-20 compatible version of ether. ERC-20 is a technical standard developed after the release of ETH that allow tokens created on the Ethereum blockchain, such as pSFM, to interact with each other.

 

FIRST, THERE'S ETHER TOKEN

Ether or ETH is the native currency built on the Ethereum blockchain.


SECOND, THERE ARE ALT TOKENS

When a dApp (decentralized app) is built off of the Ethereum Blockchain it usually implements its own form of Token. Think Augur’s REP Token, or Bancor's BNT Token.


FINALLY THE ERC-20 STANDARD

ERC-20 is a standard developed after the release of ETH that defines how tokens are transferred and how to keep a consistent record of those transfers among tokens in the Ethereum Network.

 

WHY YOU NEED WETH!?


ETH DOESN’T CONFORM TO ITS OWN ERC-20 STANDARD.

As mentioned above, ETH was the proto-token of the Ethereum Alt tokens, which means it was built before the ERC-20 standard existed.


WRAPPING ETH ALLOWS YOU TO TRADE DIRECTLY WITH ALT TOKENS.

The reason you need wETH is to be able to trade ETH for other ERC-20 tokens on decentralized platforms like Radar Relay. Because decentralized platforms running on Ethereum use smart contracts to facilitate trades directly between users, every user needs to have the same standardized format for every token they trade. This ensures tokens don’t get lost in translation.

 

Wrapped ETH and SafeMoon/pSafeMoon

The BSC Trust wallet users are interacting with WETH they are using looking to purchase/Swap ETH into pSafeMoon. Follow the guide below on how to buy pSafeMoon: 1)Buy #Ethereum on your chosen exchange

2)Transfer to TW

3)Connect to #Uniswap

4)Add pSFM in custom token - Contract 0x16631e53C20Fd2670027C6D53EfE2642929b285C

5)Add same address in TW 6)Complete



These images are showing step by step from Step 3)

 

Credit:

SafeMoon Educator (Writer)

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