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]
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]
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.