Avalanche Bridged WETH (Avalanche)Price

(WETH)

WETH.e is a wrapped version of Ethereum's native cryptocurrency, ETH, on the Avalanche network. It maintains a 1:1 peg with ETH and adheres to the ERC-20 token standard, enabling seamless use within Avalanche's decentralized finance (DeFi) ecosystem. When ETH is transferred from Ethereum to Avalanche via the Avalanche Bridge, it is converted into WETH.e, representing the locked ETH on the Ethereum blockchain.

The Avalanche Bridge facilitates secure, cost-effective, and rapid transfers of assets like WETH.e between the Avalanche and Ethereum networks. When ETH is bridged to Avalanche, the original ETH is locked on the Ethereum blockchain, and a corresponding amount of WETH.e is minted on the Avalanche C-Chain. The bridge utilizes Intel SGX technology to ensure the security of these cross-chain operations, allowing for a trusted and efficient cross-chain asset movement.

Users can acquire WETH.e by bridging ETH from Ethereum using the Avalanche Bridge, with tutorials available for guidance. Once acquired, WETH.e can be managed within compatible digital asset wallets by importing its specific contract address (0x49d5c2bdffac6ce2bfdb6640f4f80f226bc10bab). This allows users to view their holdings and engage with decentralized applications and exchanges on the Avalanche network. Dedicated ecosystem tools also simplify the bridging process.

Common issues include the risk of permanent fund loss if tokens are sent directly to bridge contract addresses or unsupported smart contract wallets. Users might also experience transaction delays, and some have reported problems when unwrapping WETH, leading to funds being sent to unintended addresses. Additionally, the bridge primarily supports ERC-20 tokens from Ethereum (and Bitcoin) to Avalanche, with fees incurred for bridging, and bridged assets are identified by a ".e" suffix.

The Avalanche Bridge was developed with a strong emphasis on security, replacing an earlier version (Avalanche-Ethereum Bridge, AEB) to provide enhanced security and faster transaction finality. It undergoes regular security audits to identify and mitigate vulnerabilities. Furthermore, the bridge incorporates advanced technologies, such as Intel SGX, to protect cross-chain transactions, ensuring the integrity and safety of assets transferred between the Ethereum and Avalanche networks.

WETH.e does not possess an independent tokenomics model. Its value is inherently derived from its direct 1:1 backing by ETH, which is locked on the Ethereum network. This means its supply directly corresponds to the amount of ETH bridged. While WETH.e facilitates activity within the Avalanche DeFi ecosystem, the broader tokenomics discussions, including utility for transaction fees and network security, are primarily associated with AVAX, Avalanche's native token.