Coinbase Wrapped Staked ETH (cbETH)
by Coinbase — https://www.coinbase.com/cbeth
Coinbase's institutional-grade liquid staking token. Fully custodial — Coinbase operates all validators. Highest performance fee among major LSTs at 25%. Simple UX but significant centralization and oracle dependency risks.
Current Stats (Feb 27)
TVL
$268,463,843
Peg
+0.022%
APY (rolling averages)
2.82%
30d
30d
2.70%
60d
60d
2.67%
90d
90d
2.77%
1y
1y
Exchange Rate
1.124136
APY History
Peg Deviation
TVL Over Time
Exit Slippage Over Time
DEX Slippage by Trade Size
Exit Quote Details
| Trade Size | ETH Received | Slippage | Best Route |
|---|---|---|---|
| 1 ETH | 1.1229 ETH | 0.11% | Uni V3 |
| 10 ETH | 11.2283 ETH | 0.12% | Uni V3 |
| 100 ETH | 111.2953 ETH | 0.99% | Uni V3 |
| 1000 ETH | 137.1514 ETH | 87.80% | Uni V3 |
Token Attributes
| Type | Value-Accruing Price appreciates over time |
| Proof of Reserves |
Centralized
Uses Chainlink price feeds for on-chain pricing. Coinbase operates all validators centrally. Notable risk: a Moonwell incident showed oracle vulnerability when a misconfigured Chainlink feed valued cbETH at $1 instead of ~$2,200. |
| Yield Forwarding | No |
| Decentralization | Centralized |
| Contract | 0xBe9895146f7AF43049ca1c1AE358B0541Ea49704 |
Fees & Withdrawals
| Performance Fee | 25.0% of staking rewards |
| Mint Fee | 0% |
| Redemption Fee | 0% |
| Withdrawal |
Queue Only
Unwrap cbETH via MintForwarder contract which burns cbETH and returns ETH. Minimum 27 hours, often up to 48 hours in high demand. Timing depends on validator exit queue length. |
| Exit Slippage |
1 ETH: 0.11%
10: 0.12%
100: 1.0%
1000: 87.8%
Best route (100Ξ): Uniswap V3 |