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Add Learn page on Wrapped Ether (WETH) #8203

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Add Learn page on Wrapped Ether (WETH)
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corwintines committed Mar 21, 2024

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commit 2f8d01735f9f2c0ccabf793027a56f56b88d3c40
8 changes: 4 additions & 4 deletions public/content/wrapped-eth/index.md
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@@ -6,7 +6,7 @@ lang: en

# Wrapped ether (WETH) {#intro-to-weth}

Ether (ETH) is the main currency of Ethereum. It's used for several purposes like staking, as a currency, and paying for computational services. **WETH is effectively an upgraded form of ETH with some additional functionality required by many applications and [ERC-20 tokens](/glossary/#erc-20)**, which are other types of digital assets on Ethereum. To work with these tokens, ETH must follow the same rules they do, known as the ERC-20 standard.
Ether (ETH) is the main currency of Ethereum. It's used for several purposes like staking, as a currency, and paying for gas fees for computation. **WETH is effectively an upgraded form of ETH with some additional functionality required by many applications and [ERC-20 tokens](/glossary/#erc-20)**, which are other types of digital assets on Ethereum. To work with these tokens, ETH must follow the same rules they do, known as the ERC-20 standard.

To bridge this gap, wrapped ETH (WETH) was created. **Wrapped ETH is a smart contract that lets you deposit 1 ETH into the contract and receive 1 minted WETH** that conforms to the ERC-20 token standard. WETH is a representation of ETH that allows you to interact with it as an ERC-20 token, not as the native asset ETH. You will still need native ETH to pay for gas fees, so make sure you save some when depositing.

@@ -18,7 +18,7 @@ You are able to unwrap WETH for ETH by using the WETH smart contract. You can re

[ERC-20](/developers/docs/standards/tokens/erc-20/) defines a standard interface for transferable tokens, so anyone can create tokens that interact seamlessly with applications and tokens that use this standard in Ethereum's ecosystem. Since **ETH predates the ERC-20 standard**, ETH doesn't conform to this specification. This means **you can't easily** exchange ETH for other ERC-20 tokens or **use ETH in apps using the ERC-20 standard**. Wrapping ETH gives you the opportunity to do the following:

- **Exchange ETH for ERC-20 tokens**: You cannot exchange ETH directly for other ERC-20 tokens. WETH is a representation of Ether that complies with the ERC-20 fungible token standard and can be exchanged with other ERC-20 tokens.
- **Exchange ETH for ERC-20 tokens**: You cannot exchange ETH directly for other ERC-20 tokens. WETH is a representation of ether that complies with the ERC-20 fungible token standard and can be exchanged with other ERC-20 tokens.

- **Use ETH in dapps**: Because ETH isn’t ERC20-compatible, developers would need to create separate interfaces (one for ETH and another for ERC-20 tokens) in dapps. Wrapping ETH removes this obstacle and enables developers to handle ETH and other tokens within the same dapp. Many decentralized finance applications use this standard, and create markets for exchanging these tokens.

@@ -29,7 +29,7 @@ You are able to unwrap WETH for ETH by using the WETH smart contract. You can re
|------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Supply | The supply of ETH is managed by the Ethereum protocol. The [issuance](/roadmap/merge/issuance) of ETH is handled by Ethereum validators when processing transactions and creating blocks. | WETH is an ERC-20 token whose supply is managed by a smart contract. New units of WETH are issued by the contract after it receives ETH deposits from users, or units of WETH are burned when a user wishes to redeem WETH for ETH. |
| Ownership | Ownership is managed by the Ethereum protocol through your account balance. | Ownership of WETH is managed by the WETH token smart contract, secured by the Ethereum protocol. |
| Gas | Ether (ETH) is the accepted unit of payment for computation on the Ethereum network. Gas fees are denominated in gwei (a unit of Ether). | Paying gas with WETH tokens is not natively supported. |
| Gas | Ether (ETH) is the accepted unit of payment for computation on the Ethereum network. Gas fees are denominated in gwei (a unit of ether). | Paying gas with WETH tokens is not natively supported. |

## Frequently asked questions {#faq}

@@ -47,7 +47,7 @@ WETH is generally considered secure because it is based on a simple, battle-test

<ExpandableCard title="Why am I seeing different WETH tokens?" eventCategory="/wrapped-ether" eventName="clicked Why am I seeing different WETH tokens?">

Besides the [canonical implementation of WETH](https://blog.0xproject.com/canonical-weth-a9aa7d0279dd) described on this page, there are other variants in the wild. These may be custom tokens created by app developers or versions issued on other blockchains, and may behave differently or have different security properties. **Always double-check the token information to know which WETH implementation you're interacting with.**
Besides the [canonical implementation of WETH](https://etherscan.io/token/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2) described on this page, there are other variants in the wild. These may be custom tokens created by app developers or versions issued on other blockchains, and may behave differently or have different security properties. **Always double-check the token information to know which WETH implementation you're interacting with.**

</ExpandableCard>

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