What is sETH?

sETH is a synthetic asset developed by Synthetix that reflects the price of Ether. It utilizes price feeds provided by an oracle to ensure accuracy in tracking the value of Ether.

The asset is part of the Synthetix protocol, which enables the creation of various synthetic instruments. sETH serves the primary use case of offering exposure to Ether's price movements without requiring direct ownership of the underlying asset.