wstETH (Wrapped Staked Ether) is a liquid staking token issued by Lido that represents staked ETH on Ethereum, continuously accruing value as the underlying deposits earn network consensus rewards. On Base, it functions as a foundational yield-bearing asset, actively paired in Aerodrome pools with WETH, YFI, AERO, and FBOMB, collectively securing over $5 million in TVL. The token is also deeply integrated into Pendle’s yield-tokenization markets across Ethereum and Arbitrum, featuring multiple maturity dates extending through 2027 with implied staking APYs ranging from roughly 2.4% to 5.1%. For liquidity providers, wstETH serves as a standard base pair that enables yield-splitting and concentrated liquidity strategies while maintaining deep composability across lending and DEX ecosystems.