Unlike staked ether (stETH), or bridge protocols which allow you to “transport” tokens to different protocols (ie, sending Solana-based tokens to Ethereum via Wormhole), wETH doesn’t have a centralized entity. Immutable, open-source smart contracts govern how wETH and ETH interact, and it’s simple to confirm that the wETH contract is fully backed at any given moment. There’s a risk that the smart contracts behind wETH could be hacked.. WETH is pegged 1:1, and thanks to block explorers you can easily validate this.

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• Source: https://www.coindesk.com/markets/2022/11/29/first-mover-asia-ethereum-isnt-weth-or-steth-but-jokes-still-move-markets/?utm_medium=referral&utm_source=rss&utm_campaign=headlines