Coinbase has launched a new asset Wrapped Staked ETH (cbETH) on the Ethereum network, an ERC-20 token, which allows customers to use their staked Ether while getting their results.[Insteadofthewebtrade[แทนจากเว็บเทรด
According to the website Users can transfer tokens to Coinbase, place stakes, then wrap ETH2 into cbETH and see the new wrapped staked tokens appear in their accounts. The token is expected to be available for trading on August 25 “if liquidity conditions are met.”
Coinbase will add support for Coinbase Wrapped Stacked ETH (cbETH) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds will be lost.
What is cbETH? Let’s dive in
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— Coinbase Assets (@CoinbaseAssets) August 24, 2022
“Our hope is that cbETH will be accepted for trading, transfers, and use in DeFi applications.” Coinbase sayIn cbETH white paper published in August, “With cbETH, Coinbase aims to contribute to the broader crypto ecosystem through the creation of high-utility wrapped tokens. and open source smart contracts.”
According to the white paper, cbETH acts as a compound token, or cToken, as it is “most compatible with dApps in DeFi today. because it complies with ERC-20 standard.”
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