What is WETH?
WETH is an ERC-20 "wrapped" version of Ethereum ETH ether coin. ERC-20 is the standard developed after the release of ETH to define how tokens are transferred and how to keep a consistent record of transfers among tokens on the Ethereum Network. Because ETH is the proto-token of Ethereum network, it was built before ERC-20 and thus does not conform to its own ERC-20 standard. By wrapping ETH in ERC-20, WETH provides a tradable asset that mirrors Ethereum value allowing users to interact with smart contracts and trade the wrapped asset with a large variety of ERC-20 assets on decentralized financial (DeFi) platforms and decentralized exchanges (DEX) such as Uniswap.
