The sETH token is pegged to ETH and is used as the collateral in Synthetix vaults. The Synthetix protocol allows users to deposit ETH and receive sETH in return, which can then be used to mint Synths (Synthetix’s synthetic assets). The sETH token is a representation of ETH on the Synthetix blockchain and is the asset used to back the Synths. To find more information about the sETH token, you can visit the Synthetix website, where you can find links to each vault page. Each vault page will provide more information about the sETH token, including how it is used to back the Synths, as well as any other relevant details. Additionally, it is important to note that there are multiple sETH tokens, so make sure you understand the differences between them before investing.