About Coinbase Wrapped Staked ETH

Coinbase Wrapped Staked ETH is Coinbase's liquid staking token: a transferable claim on ether staked through Coinbase's institutional validators. cbETH is deliberately not a 1:1 wrapper — its conversion rate against ETH climbs as staking rewards accumulate, and it can trade below that rate because exiting depends on Coinbase. It is the main staked-ETH asset on Base.