L2 Standard Bridged WETH (Base) is an ERC-20 Wrapped Ether token (WETH) that has been transferred from the Ethereum mainnet (Layer 1) to the Base network (Layer 2) using the standard bridging mechanism. ^[1]

Overview

L2 Standard Bridged WETH (Base) is a wrapped Ethereum token bridged from Ethereum to the Base network, enabling users to interact with DeFi applications, NFT platforms, and other ERC-20-compatible services on Base with reduced transaction costs and faster processing times. It enhances interoperability between Ethereum and Base by locking the original WETH on Ethereum and minting an equivalent amount on Base, ensuring a 1:1 backing.

This bridged asset allows users to access Base’s ecosystem without losing exposure to Ethereum-native assets. Developers also benefit from improved composability and liquidity, as applications on Base can integrate and utilize bridged WETH in the same way they would on Ethereum. ^[1]

Tokenomics

The supply of L2 Standard Bridged WETH (Base) is elastic and adjusts based on user activity. When WETH is bridged from Ethereum to Base, an equivalent amount is minted on Base while the original is locked on Ethereum. Bridging back reverses this process, with tokens burned on Base and WETH released on Ethereum.

• Collateralization: Each token is fully backed 1:1 by WETH on Ethereum. This structure ensures transparency and auditability, with supply data publicly available via blockchain explorers and dashboards.
• Market Capitalization: As of the latest data, L2 Standard Bridged WETH (Base) has a market cap of approximately $543,604,475.
• Availability and Trading: L2 Standard Bridged WETH (Base) is tradable on several decentralized exchanges. The most active trading venue is Aerodrome SlipStream, with the WETH/USDC pair recording a 24-hour trading volume of $113,147,205. Other notable platforms include Uniswap V3 (Base) and PancakeSwap V3 (Base). ^{[1] [2]}