ezETH is a liquid restaking token (LRT) issued by the Renzo Protocol, representing staked ETH delegated to EigenLayer on Base. Holders of ezETH earn yield from both native Ethereum staking and additional restaking services provided by EigenLayer operators. The token maintains 18 decimals and currently trades near $2,228 USD, closely tracking the price of ETH while accruing restaking rewards over time.
In the broader DeFi ecosystem, ezETH is actively utilized as an underlying asset in Pendle markets across Ethereum and Arbitrum, where its yield is structured into principal and yield tokens. On Base, it appears in Aerodrome liquidity pools paired with WETH, providing a venue for traders and yield farmers to access restaking exposure. The token has no recorded vote-market activity on Base, indicating its primary utility remains focused on yield generation and liquidity provision rather than governance or bribe markets.