rsENA is a token deployed on Base at address 0xc65433845ecd16688eda196497fa9130d6c47bd8. Based on its naming convention and market activity, it functions as a restaking derivative associated with EigenLayer’s ENA token. While no direct Aerodrome pools or Base-native vote markets are currently recorded, the token is actively traded on Pendle’s Ethereum markets.
Pendle data shows two active markets for rsENA, both featuring yield token (YT) programs from Sats. The primary market matures on March 27, 2025, with approximately $3.17 million in TVL and an implied APY of 84.6%, reflecting a "cheap PT" regime where principal tokens are trading at a discount. A secondary, smaller market matures on September 26, 2024, and is currently in equilibrium.
As a restaking derivative, rsENA likely represents a claim on restaked ENA rewards or a vault position that aggregates restaking yield. LPs interacting with this token should verify the underlying vault mechanics and redemption terms, as restaking derivatives often carry smart contract and slashing risks inherent to the EigenLayer ecosystem.