Origin chain: Ethereum
What is uETH?
uETH is a Canton-native representation of ETH issued through Lumens. It is designed to bring ETH liquidity into Canton so that wallets, applications, and settlement flows can use ETH-denominated value inside a permissioned environment.What does uETH enable?
uETH enables:- permissionless ETH deposits
- ETH liquidity for Canton applications
- private application flows backed by ETH
- seamless 1:1 redemption back into ETH
High-level lifecycle
- a user requests a deposit address
- the user deposits ETH on Ethereum
- the deposit is observed and verified
- ETH is secured in custody
- uETH is issued on Canton
- the user can transfer or use uETH in Canton applications
- the user can later redeem uETH back into ETH
Current architecture
The current uETH deployment uses:- unique Ethereum deposit addresses per user
- Safe-based custody for ETH backing
- a watcher network for event verification
- an attestor network for execution and authorization
- Canton-native token issuance and transfer
Why uETH matters
uETH is the first live example of the broader Lumens model. It shows how a liquid asset from a permissionless ecosystem can be brought into Canton through a structured issuance flow, then used by applications inside a more private and permissioned environment.What comes next
Future assets can follow the same pattern:- secure an origin-chain asset
- verify deposits and redemption events
- issue the Canton-native representation
- enable application usage and redemption