Mantle Restaked ETH (CMETH)
The mETH Protocol is a prominent decentralized finance (DeFi) solution designed to optimize Ethereum staking and yield generation on the Mantle Network. Launched in late 2023, it operates on Ethereum layer 1 (L1) but significantly enhances its capabilities through integration with Mantle's layer 2 (L2) network. This protocol offers a streamlined and user-friendly approach to staking Ethereum (ETH), allowing users to access a variety of composable financial products and yield-bearing opportunities.
Key features of mETH Protocol
Value-accumulating receipt token: $mETH
At the core of the mETH Protocol is its native token, $mETH, which acts as a value-accumulating receipt for users who stake their ETH. By staking ETH, users receive $mETH tokens, which represent their staked assets and accumulated rewards. This token is highly composable within the Mantle ecosystem, enabling users to engage with various DeFi applications and enhance their yield opportunities.
| Ticker | CMETH |
| Category | Ethereum Ecosystem |
| Website | https://www.mantle.xyz/meth |
| @mETHProtocol | |
| Telegram | mantlenetwork |
| Contract Addresses | |
|---|---|
| ethereum | 0xe6...fa Copied! |
| mantle | 0xe6...faCopied! |
Staking and yield generation
Users of the mETH Protocol can stake their ETH and, in return, receive yield-bearing $mETH tokens. These tokens not only represent the user's initial staked ETH but also accumulate additional rewards over time. The protocol is designed to maximize user convenience and capital efficiency, offering a seamless process for both staking and unstaking, thus allowing users to manage their assets effectively.
Ecosystem-wide adoption
The mETH Protocol has witnessed significant adoption across the Mantle ecosystem. Users can trade $mETH on decentralized exchanges (DEXs) within the network, provide liquidity to $mETH liquidity pools, and generate additional yield through decentralized money markets. This widespread adoption underscores the protocol's flexibility and the robust opportunities it offers for users seeking to expand their DeFi engagement.
Governance and future developments
The mETH Protocol is governed by Mantle, with plans to introduce a governance token named $COOK. This token will enable users to participate in protocol decision-making processes, ensuring a decentralized and community-driven approach to future developments. The introduction of $COOK marks a significant step in enhancing the protocol's governance framework.
Enhancements and innovations
Introduction of $cmETH
One of the notable innovations within the mETH Protocol is the introduction of $cmETH, a liquid restaking token. This permissionless and composable token unlocks additional restaking opportunities on the Mantle network, allowing users to further optimize their yield strategies. $cmETH provides an avenue for users to maximize their returns by leveraging the protocol's comprehensive suite of DeFi tools.
Security and risk management
Security is a paramount consideration for the mETH Protocol. The protocol employs non-custodial core smart contracts, ensuring that users maintain control over their assets at all times. Additionally, off-chain services are implemented to enforce sanity bounds and risk limits, safeguarding users' funds and enhancing the overall reliability of the platform.