A New Kind of Wrapped Ethereum
Tethereum is a new kind of wrapped ethereum that works just like ethereum but contains properties inspired by reflect finance. Tethereum transactions (such as deposits, withdraws, or transfers) are charged a 1% fee that is split proportionally across all the holders. A portion of the fee on deposits and withdraws are sent to an operator address.
Why should you care?
Many people would like to still earn yield on their ETH without having to lock it away for 12 months in staking and still earn a decent APY. With tETH you are able to withdraw from the contract at any point and get your ETH + whatever fees you accrued just by holding. Fees are automatically reflected in your balance without any need for airdrops or transfers. You make instant dividends.
How does price work? How do I know I’ll get the same amount of ETH if I deposit?
Whenever you deposit ETH into the contract you’re always given an equivalent amount of tETH back. For example if I deposit .1ETH I’ll ALWAYS get back 100m tETH (-1% for fees). And you can withdraw .1ETH for 100m tETH always also. This means that the price of 1b tETH will always be fixed to the price of 1ETH, at least in the contract.
What about outside the contract?
Outside the contract people are able to create their own liquidity pools and use tETH as one of the pairs and have the added ability to earn tETH while you trade with those pools.
Other than that a very simple way to think about tETH is its just WETH with the added reflection inspired by RFI. Besides that, there is nothing left in the contract, in fact there are no owners on the contract. It’s fully defi.
Feel free to take a look at our website and contract!
Contract Address 0x9d4642e97b21fd1cbf73446dd51d7e0245505ded | Etherscan
Cheers, Mr. Tether
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