In the increasingly mature Ethereum ecosystem, the staking mechanism has become an important means for users to earn returns. The mETH Protocol not only occupies a place in the liquid staking (LSD) market, but also promotes innovation and development in the re-staking (LRT) market through the introduction of the brand-new cmETH product. As a product based on innovative design, cmETH provides users with multiple earning opportunities, while also demonstrating strong expansion potential, becoming a new growth point in the LRT market.
At the same time as the launch of cmETH, the mETH Protocol also launched the COOK Feast event, from November 21, 2024 to February 16, 2025, where users can lock $COOK on https://meth.mantle.xyz/feas... to share in the reward of 200 $cmETH.
While fueling the heat of cmETH, the event also empowers the $COOK token to bring more returns to its holders, and participating in the COOK Feast event has become one of the best ways to acquire $cmETH assets. Firmly occupying the first echelon of the LSD track and entering the LRT market, mETH Protocol is ambitious
mETH Protocol was launched in August last year as a permissionless liquid staking protocol, where users can stake their ETH assets on mETH Protocol to obtain mETH assets and continue to earn returns while maintaining asset liquidity, transferring, selling or investing in other DeFi opportunities at any time.
As another flagship product built by Mantle ecosystem after the Layer2 network, mETH Protocol quickly overtook the competition in the LSD market, becoming the fourth largest ETH LSD ecosystem after Lido, Binance staked ETH, and Rocket Pool. Even without early yield subsidies, mETH Protocol's TVL can still maintain around $1.633 billion, and the amount of ETH staked through mETH is still around 479,000 ETH.
At the same time, in the course of its development, mETH Protocol has built a very extensive ecosystem, and has now been integrated into 38 different platforms or protocols of various categories, including mainstream platforms or protocols such as Bybit, Uniswap, StarGate, EigenLayer, and Symbiotic. This not only lays the foundation for building broader acceptance and earning utility for $mETH assets in the DeFi field, but also lays the foundation for the continuous expansion of the mETH Protocol ecosystem.
After firmly occupying the leading position in the LSD track, mETH Protocol has again advanced into the LRT market and launched cmETH, allowing $mETH holders to re-stake on mETH Protocol to obtain $cmETH, and holding $cmETH can bring a series of earnings such as basic staking returns, integration rewards (airdrop expectations) from various re-staking protocols, and re-staking AVS returns. The launch of the cmETH product further highlights the ambition of mETH Protocol to build the leading Ethereum staking ecosystem.
cmETH: Another unicorn in the LRT market?
In fact, cmETH has been widely favored since its recent launch.
- Backed by the powerful Mantle ecosystem
cmETH belongs to the mETH Protocol system, with the powerful Mantle ecosystem and resources as its backing and support. The ETH staking volume of mETH Protocol has reached 479,000 ETH (peaking at 500,000 ETH), making it one of the top ETH staking pools, so in theory all $mETH holders will be potential users of cmETH, especially driven by the huge Mantle ecosystem. Compared to other LRT protocols, cmETH is born with a golden key.
- Innovative product design
In terms of design, the cmETH product has advantages over other LRT products in terms of innovation, usability, profitability and security, so it is more likely to stand out from the series of LRT products in the current overall sluggish LRT market.
- Improving composability helps users obtain multiple returns
The core advantage of the cmETH product lies in its "coverage of more earning opportunities". Unlike most LRT in the market adopting a "one-to-one" form, cmETH, through its "one-to-many" design, can allow users to cover multiple re-staking protocols such as EigenLayer, Symbiotic, Karak, and Zircuit through a single LRT. This innovation greatly reduces the confusion of users in choosing different LRTs, and also avoids the problem of liquidity fragmentation caused by too many LRTs. Users only need to hold cmETH to enjoy a series of returns, including
- ETH staking returns
- Re-staking protocol returns (with a diversified choice of re-staking options including Eigenlayer, Symbiotic, Karak, etc.)
- AVS returns
- COOK token returns (mETH Protocol governance token)
- Returns from other partners
- dApp and protocol integration
So from the user's perspective, cmETH is also becoming the best way for users to capture returns from the LRT market.
Multi-expandability in CeFi and DeFi drives adoption
Regardless of the CeFi or DeFi side, cmETH also exhibits excellent convenience.
As part of the Mantle ecosystem, cmETH has already gained deep support from the exchange Bybit. On Bybit, users can directly stake mETH on the platform to earn on-chain points, and mETH also supports being used as collateral. This provides a good CeFi integration foundation for cmETH, allowing users to switch flexibly between CeFi and DeFi, and enjoy convenient cross-platform operations.
The "usability" of cmETH in DeFi also provides it with strong expansion potential. By adopting LayerZero's OFT standard, cmETH allows users to achieve slippage-free cross-chain bridging in minutes and quickly access different DeFi protocols. Based on the successful integration cases of mETH in multiple ecosystems, it is expected that cmETH will also be likely to join emerging Layer1 ecosystems such as Berachain and Fuel in the future, further enhancing its activity and user coverage in the DeFi market.
In addition, the security of cmETH is also a major highlight. The mETH Protocol behind cmETH has demonstrated its reliable code security in its stable operation over the past year, and has recently added audit reports from Blocksec and Quantstamp, further enhancing its security and user trust.
In summary, cmETH has an excellent foundation, with a large and extensive user base and financial resources backing it from the beginning.
Internally, relying on its multi-level earning opportunities, convenient CeFi and DeFi integration, and security, it has shown strong competitiveness and broad potential in the market, and is also reshaping the LRT market. From the data, the total supply of LRT assets has been sluggish or even negative growth since June this year, especially after some airdrops. After cmETH enters the market, it is expected to awaken the LRT and start a second growth point.
Use mETH Protocol to earn COOK, and stake to get cmETH, multiple returns ensure the long-term value of COOK
The COOK token is the governance token of the mETH Protocol and is a core component of the Mantle ecosystem.
According to the official document, the total supply of COOK tokens is 5 billion, of which 10% will be allocated to the core contributor team, with a lock-up period of 1 year and a linear release over 3 years; 30% will be attributed to the Mantle Treasury; 10% will be allocated to private investors; the remaining 50% will be distributed to the mETH Protocol community. COOK token holders not only can participate in the ecological governance of the mETH Protocol, but also can influence the future direction of the protocol through voting. In the recent Methamorphosis event, the mETH Protocol collaborated with 23 partners such as EigenLayer, Symbiotic, Karak, and Zircuit to launch a series of interactive tasks. Users can obtain Power rewards by holding mETH and completing these tasks, and these rewards will ultimately be converted into COOK tokens, becoming an important source of income for holders. In addition, the COOK Feast activity also provides users with more opportunities to obtain COOK tokens. By staking COOK on https://meth.mantle.xyz/feast, users will be able to share the $cmETH rewards! The multi-incentive mechanism and the extensive distribution plan of COOK tokens not only provide rich earning opportunities for mETH Protocol users in the short term, but also lay a solid foundation for its long-term value growth. As the mETH Protocol ecosystem continues to expand, the governance and value of COOK tokens will continue to be enhanced, becoming an asset that cannot be ignored by users in the DeFi and LRT markets.
