What is PETH?

WETH or ETH is converted to pooled Ether (PETH) to collateralize your CDP. This is the type of collateral used for the current iteration of DAI known as "Single-Collateral." It is a version of Ether wrapped in a specific smart contract for this purpose. The ratio of PETH to WETH or ETH may fluctuate based off of mechanisms built into the MakerDAO ecosystem.

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