> For the complete documentation index, see [llms.txt](https://docs.kpk.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.kpk.io/funds/infrastructure/onchain-accounting/price-feeds/weeth.md).

# weETH

weETH is Ether.fi's non-rebasing wrapped eETH. It is priced **purely from its on-chain exchange rate** — no market oracle sits in the pricing path. This `ICustomPriceFeed` adapter reads the weETH contract's `getRate()` and scales it by the NAV's own ETH/USD. Any market divergence is surfaced by a market **monitor** feed, not by moving this price.

**Source:** [`weETH_CustomPriceFeed.sol`](https://github.com/karpatkey/onchain-accounting/blob/main/src/prices/protocols/weETH_CustomPriceFeed.sol)

{% hint style="info" %}
**Mainnet feed.** The L2 deployments use a different oracle composition — see [weETH (L2)](/funds/infrastructure/onchain-accounting/price-feeds/weeth-l2.md).
{% endhint %}

***

## Approach

`getRate()` × ETH/USD — `getRate()` gives eETH per weETH, which is ETH per weETH when treating **eETH/ETH ≡ 1.0** (eETH is a \~1:1 rebasing claim on staked ETH); ETH/USD then converts to USD. This is a pure-fundamental [`BaseCustomPriceFeed`](/funds/infrastructure/onchain-accounting/price-feeds.md#supported-feed-types) subclass: it implements only the `_rate()` hook and carries no market weETH/ETH Chainlink leg. The ETH/USD term is the NAV's own price for WETH (via `getPriceDataNoDivergence(WETH)`), not a hardcoded oracle.

<figure><img src="/files/4QMhDqqbeaMM5yfaW6qe" alt="Left-to-right flowchart of the weETH (Mainnet) price feed: the on-chain exchange rate scaled by the NAV&#x27;s ETH/USD, with a staleness gate."><figcaption><p>weETH (Mainnet) price feed — the on-chain exchange rate scaled by the NAV's ETH/USD, with the staleness gate.</p></figcaption></figure>

{% hint style="info" %}
The ETH/USD term is sourced from the NAV's own primary feed — see [Base/USD from the NAV's own selector](/funds/infrastructure/onchain-accounting/price-feeds.md#base-usd-from-the-navs-own-selector).
{% endhint %}

***

## Price calculation

```
price = getRate() (18) × (ETH/USD, NAV-selected) (8) / 1e18      // USD, 8 dec
```

| Input     | Source                                             | Description                      |
| --------- | -------------------------------------------------- | -------------------------------- |
| `getRate` | `IweETH.getRate()` on weETH (18 dec)               | eETH per 1 weETH                 |
| ETH/USD   | **NAV** — `getPriceDataNoDivergence(WETH)` (8 dec) | the NAV's primary WETH/USD price |

`getRate()` is the weETH contract's authoritative eETH-per-weETH conversion; since 1 eETH ≈ 1 ETH, it doubles as ETH per weETH. A real depeg does **not** move this price but instead trips the divergence monitor (below). Output decimals are inherited from the ETH/USD feed (8).

***

## Constructor

```solidity
constructor(
    address weEth_,
    address nav_,
    address baseAsset_
)
```

| Parameter    | Description                                                                                |
| ------------ | ------------------------------------------------------------------------------------------ |
| `weEth_`     | weETH token address (also the supported underlying; used for `getRate()`)                  |
| `nav_`       | NAVCalculator (proxy) — supplies the base asset's USD price via `getPriceDataNoDivergence` |
| `baseAsset_` | the registered base asset whose USD price is read (WETH)                                   |

***

## Staleness

`getLatestPrice()` returns stale if `getRate()` returns `0`, or if the NAV reports the base asset (WETH) primary feed stale. There is no market-leg heartbeat — the rate call has no independent heartbeat, and the only external timestamp is the NAV's selected WETH feed, which supplies the reported `updatedAt`.

***

## Divergence monitors

weETH carries a **divergence tolerance of 250 bps** and is watched by a Redstone weETH/USD market **monitor** feed. If the primary deviates from the monitor beyond 250 bps the asset is flagged `irregular` (a signal, not a price change). See [Primary feed and divergence monitors](/funds/infrastructure/onchain-accounting/price-feeds.md#primary-feed-and-divergence-monitors).

***

## Chains

Deployed on **Ethereum**. The L2 variant instead reads a Chainlink weETH/eETH exchange-rate feed, since weETH is bridged there and has no on-chain rate — see [weETH (L2)](/funds/infrastructure/onchain-accounting/price-feeds/weeth-l2.md).


---

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