How does the Ethereum gateway work

After creating withdrawal request, Ethereum tokens are transferred to the gateway side as wETH (Waves ETH) tokens, then gateway processed them and finally sends as external ETH transaction,  i.e. wETH > Ethereum gateway > ETH.

For deposits, the process is repeated but in the opposite direction ETH > Ethereum gateway > wETH asset.

You will receive tokens to your Ethereum address which you used. By the way, deposits and withdrawals process usually takes up to 120 minutes.

Warning. All transactions are always processed only through this gateway address - 3PAs2qSeUAfgqSKS8LpZPKGYEjJKcud9Djr

What is Waves ETH?

The Waves ETH token (wETH) represents Ethereum on the Waves blockchain. Waves allow people to store and transfer it more efficiently due to Waves’ high speeds and low transaction fees.

Every wETH token is 1:1 backed by Ethereum held in a secure multi-sig account.