XETH is a Fractional-Algorithmic Synthetic Token pegged to the value of 1 ETH on Arbitrum One. The protocol aims to maintain XETH token’s price stability, in other words the peg, by storing sufficient collateral in the time-locked smart contracts. This collateral is used for redemptions, helping to maintain price stability. Wonderful Protocol is a DeFi project aimed at developing and popularizing synthetic tokens for multiple L1 &amp; L2 Ecosystems. Wonderful Protocol introduces a decentralized solution by adopting a partial collateralized design, where Wonderly's synthetic tokens are backed primarily by ETH and partially by the native token AFX (approx 99.8% ETH backing).

Wonderly Finance xETH

XETH is a fractional-algorithmic synthetic token pegged to the value of 1 ETH on Arbitrum One

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