$223.453 -10.26%

What is iETH?

Inverse Ethereum by Synthetix: claims to inversely tracks the price of Ether through price feeds supplied by an oracle. It is also claimed that its value freezes when it reaches its upper limit of $390 (i.e. when Ether’s value reaches $130) or its lower limit of $130 (i.e. when Ether’s value reaches $390).

It is claimed that if it reaches either of its limits and gets frozen, it will no longer be able to be purchased on Synthetix.Exchange, but can still be traded for other Synths at its frozen value. It is further claimed that at some point after it has reached either of its limits, it will be substituted for another iETH with different limits.

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