ETHx is the liquid restaking token (LRT) issued by Ether.fi, representing stETH that has been restaked to capture additional yield. Deployed on Base at 0xa35b1b31ce002fbf2058d22f30f95d405200a15b, it functions as a yield-bearing derivative that tracks the value of stETH while accruing restaking rewards distributed by the Ether.fi protocol.
The token is actively utilized in yield-derivative markets, with a notable presence on Pendle where it serves as an underlying asset in a market holding over $4.6M in TVL and offering an implied APY of approximately 3.9%. Although it currently shows no activity in Aerodrome pools or Base vote markets, ETHx remains a foundational asset for restaking strategies on the network.