Few thoughts on $BETH (tokenized burned ETH) having just recorded with @0xzak (stay tuned for pod today!) + Key value to BETH is simple: the ability to track and prove when you burn ETH + This smart contract written by @0xzak accepts ETH, sends it to the popular 0x0000 address for burning project tokens, and for every 1 ETH sent, the contract sends you 1 BETH + It remains to be seen if BETH could ever trade at any value above $0, given there's no ETH to redeem, but it also could command value in the future if ever some clever DeFi engineers get to design a protocol using BETH + Regardless, BETH is built for those who wish to make the ultimate sacrifice: burn ETH and reduce the supply for the greater good of increasing ETH's monetary premium + One likely user of BETH is anyone with larger ETH treasuries such as an L2 like @arbitrum, @LineaBuild or @base to easily prove they're burning ETH (ie if they commit to burn % of txn fees and hence show an accrual of BETH) + Someone needs to...
9.33K
49
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.