Fluid Wrapped Ether wallet

What is Fluid Wrapped Ether (FWETH)?

Supply WETH into Fluid and fwETH is the token that records it. Fluid is the Instadapp team's DeFi protocol, where lending, vaults and a DEX all draw on a single shared liquidity layer, and its wrapped tokens are how the protocol represents a depositor's stake in that layer.

Count the layers and the ticker makes sense: ETH becomes WETH so that it behaves like an ordinary ERC-20, and WETH inside Fluid becomes fwETH. Each step is a wrapper, and none of them is the coin that pays for transactions. That is the mistake worth avoiding - fwETH cannot cover gas, WETH cannot cover gas, and only plain ETH sitting in the same wallet can. Unwrapping in the wrong order leaves you holding something you cannot spend a transaction on.

It lives on Ethereum only, and its value follows the position it stands for inside Fluid rather than trading independently, so the way out is redeeming through the protocol back to WETH and then to ETH. Wallets without it in their token lists will simply not name it; the balance is on chain regardless.

Positions inside a lending protocol can stay open far longer than planned, and everything about them hangs on one address staying reachable. Tangem's key is generated in the card and never leaves it, so the address that opened the position is the same one that closes it, however many phones later. When the receipt only matters at the moment you finally redeem it, that kind of permanence is what you want holding it.

Supported networks in Tangem (1): Ethereum.