Exactly Wrapped Ether wallet

What is Exactly Wrapped Ether (EXAWETH)?

Put WETH into Exactly's variable rate pool on Optimism and what comes back to the wallet is EXAWETH: a receipt token for that deposit, not the ether itself. It is an ordinary ERC-20 on Optimism, transferable, and redeemable through the protocol for the underlying WETH.

The part holders trip over is what the number in the wallet means. The exaToken behaves as a vault share: the balance you hold stays the same, while the amount of WETH each share can be redeemed for tracks the interest paid by borrowers in the pool. So a wallet that shows the same figure month after month is working exactly as designed, and the fiat value shown next to it will not match a plain WETH balance of the same size.

Two more practical notes. The underlying is wrapped ether, so getting back to native ETH is a second step after redeeming. And fees on Optimism are paid in ETH, not in the exaToken, so keep a little ETH on that network if you ever intend to move or redeem the position.

Supported networks in Tangem (1): Optimism. Since a share like this does its work on-chain without the holder signing anything, the Tangem app simply reads the current balance from Optimism each time it is opened; the card itself can sit untouched in a drawer for as long as the position stays open, which suits a deposit receipt you intend to leave alone.