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Wrapped HBAR (WHBAR) is a cryptocurrency that is a tokenized version of Hedera on Ethereum. WHBAR represents Hedera at a 1:1 ratio, with each WHBAR token being backed by an equivalent amount of Hedera held by custodians. This means that the value of WHBAR is directly tied to the value of Hedera, and users can use WHBAR for transactions and other operations on the Ethereum network.