xETH is a Fractional-Algorithmic Synthetic Token pegged to the value of 1 ETH on Base Network.
The protocol aims to maintain xETH token’s price stability, in other words the peg, by storing sufficient collateral in the smart contracts. This collateral is used for redemptions, helping to maintain price stability, and in safe strategies to earn a passive income.
The Particle Money team are Base Ecosystem users and supporters. The xETH synthetic token explicitly gives ETH holders another great use case and a way to earn yield via additional rewards.