mETH Protocol (cmETH): Effortless Cross-Chain ETH Restaking
Following Ethereum's move to a proof of stake (PoS) block validation model in September 2022, ETH staking and liquid staking solutions have been taking the market by storm. The Mantle Network (MNT) project — a popular Layer 2 chain for Ethereum — had also decided to leverage the popularity of ETH liquid staking by launching the mETH Protocol, then known as Mantle LSP, in late 2023. In a matter of months, mETH had grown to become Mantle's leading decentralized finance (DeFi) protocol and one of the largest liquid staking platforms in the industry.
Another development in this sphere that’s taken shape between the second half of 2023 and throughout 2024 has been the arrival and explosive growth of ETH liquid restaking. Introduced by the EigenLayer protocol, liquid restaking is notably different from liquid staking as it supports a wider range of yield generation opportunities. Having replaced liquid staking as the industry's new in-vogue “thing,” liquid restaking is gaining popularity at lightning speed. Observing the development, the mETH Protocol has decided to add liquid restaking to its arsenal with the introduction of the cmETH liquid restaking token.
Key Takeaways:
mETH Protocol is a liquid staking/liquid restaking service on the Mantle Layer 2 chain.
In late October 2024, the protocol entered the liquid restaking niche by introducing the cmETH token, an omnichain asset that creates liquid restaking opportunities via partner platforms, such as EigenLayer, Symbiotic and Karak.
cmETH can be bought on Bybit as a Spot pair (cmETH/USDT).