Coinbase Wrapped Staked ETH

Coinbase Wrapped Staked ETH, or cbETH, is a token representing Ethereum staked through Coinbase's platform, designed to provide liquidity for staked assets.

Coinbase users can stake their Ethereum (ETH) to earn rewards. In return, they receive cbETH, which represents their staked ETH and its accruing rewards. cbETH can be traded, transferred, or used in decentralized finance (DeFi) applications, offering flexibility while still earning staking rewards.

Coinbase introduced cbETH to bridge the gap between staked Ethereum and liquidity needs in the DeFi space. This concept became more prevalent with the Ethereum 2.0 upgrade, which introduced staking to the Ethereum network. The specific launch date and more detailed origin story of cbETH can be ascertained through current research.

The introduction of cbETH coincided with significant developments in Ethereum, particularly the shift to Ethereum 2.0. This transition marked a move from proof-of-work to proof-of-stake, significantly altering Ethereum's operational dynamics. Key milestones would include the adoption rate of cbETH, its integration into various DeFi platforms, and how it has influenced the staking landscape.