Wrapped eETH
WEETH
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
Whale Pulse
Large transaction flow (>$10k)
24h Whale Volume
$0.0k
Sentiment
Accumulation
Recent DEX Trades
Want real-time SMS/Email Whale Alerts?
Upgrade to ProAI Analysis
Comprehensive evaluation of the token
WEETH (Wrapped eETH) by ether.fi represents a market-leading non-rebasing liquid restaking wrapper capturing Ethereum staking and EigenLayer restaking yields. With a substantial market capitalization of approximately $5B deployed across roughly 20 networks, the protocol demonstrates active development, evidenced by new multi-chain expansions (such as Monad) and institutional integrations (including Aave V3). The tokenomics follow a transparent 1:1 mint/burn mechanism against underlying eETH with value accrual. Security and audit records show no historical protocol-level exploits, verified audits from leading security firms like OpenZeppelin, and an active bug bounty program. Governance and operational oversight are maintained by public leadership (Mike Silagadze, Rok Kopp) and the ether.fi Foundation. Key residual risks include smart contract complexity across layered restaking protocols, cross-chain bridge dependencies, and reliance on sustained restaking yield incentives.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Wrapped eETH (WEETH)
Wrapped eETH (WEETH) is an ERC-20 non-rebasing liquid restaking wrapper token issued by the ether.fi protocol. Operating primarily on the Ethereum mainnet and deployed across roughly 20 networks—including Base, Arbitrum, Optimism, and Monad—WEETH wraps ether.fi's liquid staking token, eETH. Rather than altering token balances through rebasing mechanics, WEETH accrues rewards via an appreciating exchange rate against ETH, capturing both native Ethereum proof-of-stake yields and EigenLayer restaking rewards. The token features an uncapped, demand-driven supply minted 1:1 against eETH deposits and burned upon redemption.
ether.fi was founded by Mike Silagadze and Rok Kopp, deploying its protocol mainnet in May 2023 and full eETH functionality in November 2023, followed by a $23 million funding round led by Bullish Capital in March 2024. Protocol governance is managed by the ether.fi Foundation and ETHFI governance token holders. WEETH functions to provide liquidity for restaked ETH across decentralized finance integrations, utilizing LayerZero V2 framework standards for multichain expansion. The underlying smart contracts and integrations have undergone security assessments by firms including OpenZeppelin, alongside an active bug bounty program.
While no smart contract exploits, depeg events, or regulatory actions have been reported against the protocol, holding WEETH entails specific structural risks. Users are exposed to layered protocol risks, including validator slashing on both Ethereum and EigenLayer, smart contract upgradeability risks, and dependencies on cross-chain bridge architecture. Additionally, WEETH holders possess no direct governance rights over ether.fi parameters, and the asset exhibits low trading volume relative to its total market capitalization, presenting potential liquidity and slippage considerations in secondary markets.