The WETH cryptoasset, short for Wrapped Ether, is a version of ETH that is compliant with the ERC-20 token standard. New WETH is created by depositing ETH to a smart contract, which mints the ERC-20 WETH in response. WETH is commonly used in DEXs and decentralized finance applications, such as Radar Relay, dYdX, and 0x, which often require tokens to be ERC-20s.