Do more with your staked ETH
cbETH lets you safely and easily use and earn rewards on your staked ETH.
We work with trusted validators. We’re the only publicly listed and audited crypto exchange. Our best-in-class encryption and security have been keeping user funds safe for 10+ years.
Wrap your staked ETH to cbETH with just a few steps and zero fees. You can unwrap at any time. cbETH can be traded on Coinbase and used in DEXs like Uniswap and Curve.
Earn competitive staking rewards on cbETH with a simple 10% commission and no lockups.¹ Plus access a growing ecosystem of DeFi applications to earn more.
¹ Rewards rates are determined by the Ethereum protocol and Coinbase will pass through the rewards to you, minus a fee. You will not earn a reward unless it is received by Coinbase. You can find our current commission fee in help center.
The cbETH ecosystem
Earn and use your cbETH on a growing number of DeFi applications on Mainnet.*
A leading decentralized crypto trading protocol, governed by a global community.
Curve is an exchange liquidity pool on Ethereum designed for extremely efficient stablecoin trading.
Balancer is a decentralized protocol that provides DeFi liquidity infrastructure.
Yearn is a decentralized suite of products helping individuals, DAOs, and other protocols earn yield on their digital assets.
Aave is a decentralised non-custodial liquidity market protocol where users can participate as suppliers or borrowers.
Compound is an algorithmic, autonomous interest rate protocol built for developers, to unlock a universe of open financial applications.
Silo is a non-custodial lending protocol to borrow any crypto asset with another.
Wrap or unwrap cbETH from staked ETH on Coinbase. Buy or sell cbETH directly.
Buy, sell or deposit cbETH in DeFi protocols from Coinbase Wallet.
Chainlink is a decentralized blockchain oracle network built on Ethereum.
Vesper allows you to easily grow your holdings by routing your deposits through DeFi's leading yield sources.
The DeFi infrastructure built to bring higher capital efficiency + greater capital control to the liquidity market.
The best on-chain staking yields for a more decentralized network.
Ethereum is the community-run technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications.
An L2 scaling solution for Ethereum, offering a unique combination trustless security, EVM compatiblity, scalability and cost.
Optimism is a low-cost and lightning-fast Ethereum L2 blockchain.
Polygon is the most proven way to build and scale your projects on Ethereum.
Maximize ETH yield through Aave and Compound leveraged staking and Uniswap V3 liquidity provision of ETH liquid staking tokens.
Builders, you now have access to millions of Coinbase users.
It's a no-brainer for innovators to integrate cbETH into DeFi.
cbETH Advantages
Unlock the benefits of DeFi.
We’re making it easy for Coinbase users to onboard to DeFi. Your innovations with cbETH can draw new users to DeFi and grow access to financial freedom.
We’ve built cbETH to be seamlessly compatible with DeFi applications. This includes a simplified c-token model, on-chain price oracle, and self-serve APIs.
We employ best-in-class practices to reduce the risk of slashing. We work with highly rated validators and diversify our node operators, clients, and hosting.
What builders are saying
Everything you need to build on cbETH
Coinbase's whitepaper provides in-depth details on the importance, technology, benefits and risks involved with cbETH
Returns the circulating supply, total supply, and conversion rate of cbETH.
Access open source resources or contribute to building on Coinbase wrapped tokens.
Easily access cbETH permissions to start building.
Easily integrate Chainlink's cbETH price oracle.
The token contract on Arbitrum allows you to see transfers, holders, DEX trades, and more.
The token contract on Base allows you to see transfers, holders, DEX trades, and more.
The token contract on Etherscan allows you to see transfers, holders, DEX trades, and more.
The token contract on Optimism allows you to see transfers, holders, DEX trades, and more.
The token contract on Polygon allows you to see transfers, holders, DEX trades, and more.
FAQs
What is cbETH?
Coinbase Wrapped Staked ETH (“cbETH”) is a utility token that represents Ethereum 2 (ETH2), which is ETH staked through Coinbase. Over time, the price of cbETH will likely deviate from ETH because cbETH represents 1 staked ETH plus all of its accrued staking rewards starting from when cbETH's conversion rate and balance were initialized (June 16, 2022 19:34 UTC). cbETH is minted exclusively by Coinbase. cbETH can be sold or sent off-platform, while ETH2 will remain locked-up until a future protocol upgrade.
We wrote a white paper for cbETH with in-depth technical details.
Why would I wrap staked ETH (ETH2) to get cbETH?
Wrapping your ETH2 allows you to sell or send your staked ETH before a future Ethereum network upgrade, which may happen as soon as 2023. cbETH can also be used in DeFi and other dapps.
If you want to sell your ETH2 or send it to another wallet, wrapping it for the cbETH is your only option. cbETH is an ERC-20 token and can be sold or sent anytime.
What is token wrapping?
Token wrapping is a process in which a crypto asset is locked up in a smart contract and a new token (the wrapped token) is issued on the blockchain to represent the original token.
Wrapped tokens provide liquidity, allowing customers to freely trade or transfer the position while the underlying token remains locked.
Am I eligible to wrap cbETH?
If you are in one of the geolocations where ETH staking is available, then you will be eligible to wrap your staked ETH (ETH2) into cbETH. Please view this help center article for eligible regions.
What are the risks to wrapping my staked ETH?
Markets may value cbETH less than staked ETH, which could cause you to lose some cash value if you wrap and then sell your cbETH. If you no longer want to hold cbETH, you can also unwrap it for ETH2 for free.
Unwrapping your cbETH will return ETH2 plus all of the rewards accrued during your holding period. The underlying ETH2 and accrued rewards remain locked after you unwrap your cbETH.
Can I unwrap my cbETH?
Yes, you can unwrap your cbETH and receive the underlying ETH2. The amount of ETH2 you’ll receive is equal to the amount of cbETH multiplied by the conversion rate.
The conversion rate will grow over time so long as staking rewards exceeds penalties from very rare slashing events.
How do I verify my cbETH token address in my wallet?
Coinbase’s cbETH token can be found at the following contract address.
The cbETH contract address is a public address that identifies the cbETH token contract on Ethereum. The contract address can be found on the block explorer Etherscan, which is a data analytics platform that allows you to view Ethereum addresses.
The official cbETH contract is: 0xbe9895146f7af43049ca1c1ae358b0541ea49704
When you visit cbETH’s address page on Etherscan, you should see the official contract address on the right side of the page.
When receiving or buying a cbETH token off of the Coinbase platform, please confirm that the “cbETH” token corresponds to the contact address above. Anyone can mint a token with the ticker “cbETH”, so when in doubt, please confirm the contract address.
Where can I find the cbETH conversion rate?
We publish the current cbETH conversion rate on an Exchange API endpoint, which represents the number of ETH2 units that can be wrapped for 1 cbETH.
What’s the difference between Ethereum (ETH) and Ethereum 2 (ETH2) on Coinbase?
ETH2 is ETH that is staked in order to validate transactions and earn rewards on the ‘Beacon Chain’, which is the new proof-of-stake blockchain that will merge with the current version of Ethereum and become the main network. The price of ETH2 is equal to ETH.
All ETH2 are currently locked in a smart contract and will not become available for trading until the merge and a following upgrade are complete. In the meantime, Coinbase is making it possible for ETH2 holders to wrap their ETH2 into cbETH, which is a liquid representation of ETH2 that can be traded or transferred.
Will I eventually be able to unstake my ETH2?
Yes, you will. In a future Ethereum protocol upgrade, possibly as soon as 2023, the protocol will allow unstaking ETH2 back into ETH. We plan to support unstaking after this upgrade.
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