Coinbase's cbETH is a liquid staking token for Ethereum, enabling flexible trading and DeFi participation. More
| Fully Diluted Valuation | $1.83B |
|---|---|
| 24H Trading Volume | $5.80M |
| 24H Low / High | $4.77 K / $ 4.93 K |
| Circulating Supply | 128.60 K |
| Total Supply | 373.33 K |
| Max Supply | ∞ |
| Categories | Wrapped-Tokens 9 more |
|---|---|
| Founder | Coinbase Team |
| Website | coinbase.com Whitepaper |
| Socials | |
| Chains | Ethereum Ecosystem 4 more |
| Explorer | Dex 7 more |
| Contracts |
0xbe9....49704
4 more
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| Name | Pair | OG Score |
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Coinbase has introduced an innovative solution for Ethereum stakers: Coinbase Wrapped Staked ETH (cbETH), a liquid staking token that embodies the value of staked ETH (Ethereum 2 or ETH2) through Coinbase. Launched recently, cbETH marks a significant milestone in the cryptocurrency space. This utility token allows Coinbase customers to wrap their locked staked ETH, transforming it into a flexible asset that can be traded, moved on-chain, and utilized in various decentralized applications (dApps) and DeFi protocols. The unique characteristic of cbETH lies in its nature as a liquid staking token. It enables holders to enjoy the benefits of staking - such as regular staking compensation payouts - without the constraints of lockups or unbonding periods.
cbETH operates under the standard ERC-20 token format, utilizing the cToken model pioneered by Compound Finance. This model creates a dynamic where cbETH maintains a conversion rate indicative of the underlying staked ETH. As a result, holders of cbETH indirectly participate in Ethereum staking rewards, reflected through an increasing conversion rate. This means the same amount of cbETH can be unwrapped for a greater quantity of staked ETH over time, offering an efficient way to manage staked assets.
The utility and flexibility of cbETH extends to various use cases. Primarily, it allows users to maintain their staked ETH positions while gaining liquidity. Users can wrap their staked ETH into cbETH and sell it for cash or use it as collateral in DeFi lending, enabling borrowing against staked assets. Furthermore, cbETH can be transferred from a Coinbase account to non-custodial wallets, enhancing its functionality in the broader crypto ecosystem. By creating cbETH, Coinbase not only adds to its product offerings but also contributes significantly to the evolving landscape of cryptocurrency, especially in the realms of staking and decentralized finance.
Coinbase Wrapped Staked ETH (CBETH) is unique as a liquid staking token that represents Ethereum 2 (ETH2), specifically ETH staked via Coinbase. Launched on June 16, 2022, cbETH facilitates secure and easy staking of ETH, unlocking DeFi benefits and liquidity, and is designed for seamless compatibility with DeFi applications, offering rewards on staked ETH without lockups.
It was developed and launched by the broader Coinbase team, comprising various engineers, product managers, and other specialists within the company.
You can buy Coinbase Wrapped Staked ETH (CBETH) on Coinbase, Uniswap V3 (Ethereum), Uniswap V3 (Arbitrum One), Pancakeswap V3 (Base)Uniswap V2 (Ethereum) cryptocurrency exchanges.
