What is Wrapped eETH (WEETH)

1. Project Introduction
weETH is a wrapped ETH token of the restaking protocol ether.fi. When stakers deposit ETH into the pool, the pool mints eETH tokens and transfers them to the depositors. Users can later restake them to earn additional rewards. The introduction of weETH marks a great leap forward in the cryptocurrency market. It provides users with an opportunity to earn extra points while obtaining weETH. This strategy is expected to attract more users to ether.fi and increase the platform's overall liquidity. The launch of weETH is part of ether.fi's broader strategy, aiming to enhance its products and provide users with more opportunities to earn rewards. Ether.fi is a non-custodial staking protocol built on Ethereum, founded by Mike Silagadze and launched in 2023. Unlike other liquid staking protocols, ether.fi allows participants to retain control of their keys when staking tokens and exit validators and get their ETH back at any time.
2. Team & Investment Info
Team members are all ether.fi members: Mike Silagadze: Current CEO of ether.fi and Gadze Finance. He was the founder of Top Hat. Rok Kopp: Co-founder and Chief Growth Officer of etherFi, former Chief Revenue Officer at Obsidian HR and Vice President of Enterprise Sales at Top Hat.
Funding: It raised $5.3 million in a seed round in February 2023 from the following investors: North Island Ventures*, Chapter One*, Arrington Capital, Maelstrom Capital, Node Capital, and Version One. Series A investors: CoinFund*, Bullish*, Amber Group, OKX Ventures, Bankless Ventures, Foresight Ventures, Arrington Capital, ConsenSys Mesh, Selini Capital, Fourth Revolution Capital, White Star Capital, Punk DAO, Collider Ventures, Draper Dragon, North Island Ventures, Chapter One, Hyperithm, Relayer Capital, Lvna Capital, Sandeep Nailwal, Will Price, Mr. Block, Stani Kulechov, DeFi Dad, and Guy Young.
3. Social Media URLs
X: https://x.com/ether_fi
Telegram: https://t.me/+C3fpSjmPqzA5NTVh
Discord: https://discord.com/invite/zqGzcuQWvD
4. Token Info
Token Symbol: Weeth
Total Supply: Floating as needed
Token Type: ERC-20
Issuance/Burn Mechanism: Dynamic mechanism
Contract Address: 0xCd5fE23C85820F7B72D0926FC9b05b43E359b7ee
Token Distribution: Floating as needed
5. Related Links
Official Website: https://ether.fi/
LinkedIn: https://www.linkedin.com/company/etherfi/
GitHub: https://github.com/etherfi-protocol
Other Info:
GitBook: https://etherfi.gitbook.io/etherfi/
https://www.rootdata.com/zh/Projects/detail/Ether.Fi?k=NzExNA%3D%3D

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.