sETH (SETH) is a crypto-backed token that operates within the decentralized finance (DeFi) space, specifically in the synthetic asset and derivatives markets. Built on the Ethereum and Optimism ecosystems, sETH offers users the ability to access synthetic assets representing a wide range of real-world assets. It aims to provide a decentralized and permissionless platform for creating and trading synthetic assets, allowing users to gain exposure to various assets without the need for owning the underlying asset.