In today's gradually maturing Ethereum ecosystem, the staking mechanism has become an important means for users to obtain returns. The mETH Protocol not only occupies a place in the liquid staking (LSD) market but also promotes innovation and development in the restaking (LRT) market by introducing the new cmETH product.
As an innovative design-based product, cmETH provides users with multiple earning opportunities while showcasing strong scalability potential, becoming a new growth point in the LRT market.
With the launch of cmETH, the mETH Protocol also launched the COOK Feast event, which runs from November 21, 2024, to February 16, 2025. By locking $COOK at https://meth.mantle.xyz/feas..., participants can share in a reward pool of 200 $cmETH.
The event not only ignited the popularity of cmETH but also empowered the $COOK token, bringing more benefits to its holders. Participating in the COOK Feast event has become one of the optimal ways to acquire $cmETH assets.
Sitting firmly in the first tier of the LSD track and advancing into the LRT market, mETH Protocol is ambitious
The mETH Protocol is a non-permissioned liquid staking protocol launched last August, allowing users to stake ETH assets within the mETH Protocol to obtain mETH assets, while continuing to earn returns on mETH assets while retaining asset liquidity, enabling transfers, sales, or deployment to other DeFi opportunities at any time.
As another flagship product built with all resources from the Mantle ecosystem following the Layer2 network, the mETH Protocol quickly achieved a lead in the LSD market, becoming the fourth largest ETH LSD ecosystem after Lido, Binance staked ETH, and Rocket Pool. Currently, even without early yield subsidies, the TVL of the mETH Protocol remains at $1.633 billion, and the amount of ETH staked through mETH is still around 479,000.
At the same time, the mETH Protocol has built a very extensive ecosystem during its development, now integrated into 38 different platforms or protocols across multiple categories, including mainstream platforms or protocols such as Bybit, Uniswap, StarGate, EigenLayer, and Symbiotic. This not only lays the foundation for broader acceptance and yield utility of $mETH assets in the DeFi space but also establishes a basis for the continuous expansion of the mETH Protocol ecosystem.
After firmly establishing its position in the LSD track, the mETH Protocol is again advancing into the LRT market and launching cmETH, allowing $mETH holders to restake within the mETH Protocol to obtain $cmETH. Holding $cmETH enables users to earn a series of returns from base staking rewards, various restaking point rewards (airdrop expectations), and restaking AVS rewards, among others. The launch of the cmETH product further highlights the mETH Protocol's ambition to build a leading Ethereum staking ecosystem.
cmETH: Another unicorn in the LRT market?
In fact, since its recent launch, cmETH has been viewed favorably by many parties.
- Backed by a strong Mantle ecosystem
cmETH belongs to the mETH Protocol system, supported by a robust Mantle ecosystem and resources. The ETH staking volume of the mETH Protocol has reached 479,000 (peaking at 500,000), making it a leading ETH staking pool. Therefore, theoretically, all $mETH holders will be potential users of cmETH, especially under the drive of the vast Mantle ecosystem, making growth easier to achieve. Compared to other LRT protocols, cmETH is born with a golden key.
- Innovative product design
The cmETH product itself has advantages in innovation, usability, profitability, and security compared to other LRT products. Therefore, in the current overall sluggish growth of the LRT market, cmETH is more likely to stand out among a series of LRT products.
- Enhanced composability helps users obtain multiple returns
The core advantage of the cmETH product lies in its "coverage of more earning opportunities." Unlike most LRTs in the market that adopt a "one-to-one" format, cmETH allows users to cover multiple restaking protocols such as EigenLayer, Symbiotic, Karak, and Zircuit through a "one-to-many" design. This innovation greatly reduces user confusion when choosing different LRTs and avoids liquidity fragmentation caused by too many LRTs. Users only need to hold cmETH to enjoy a series of returns, including:
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ETH staking rewards
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Restaking protocol rewards (diverse restaking options including Eigenlayer, Symbiotic, Karak, etc.)
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AVS rewards
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COOK token rewards (mETH Protocol governance token)
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Other partner rewards
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dApp and protocol integration
From the user's perspective, cmETH is becoming the best way for users to capture returns from the LRT market.
Multi-dimensional scalability in CeFi and DeFi drives adoption
Whether on the CeFi side or the DeFi side, cmETH demonstrates excellent convenience.
As part of the Mantle ecosystem, cmETH has already received deep support from the exchange Bybit. On Bybit, users can directly stake mETH through the platform and earn on-chain points, and mETH can also be used as collateral. This provides a solid foundation for cmETH's CeFi integration, allowing users to flexibly switch between CeFi and DeFi while enjoying cross-platform convenience.
The "availability" of cmETH in DeFi also provides it with strong scalability potential. By adopting LayerZero's OFT standard, cmETH enables users to achieve seamless cross-chain bridging within minutes, quickly connecting to different DeFi protocols. Based on the successful integration of mETH in multiple ecosystems, cmETH is also expected to join emerging Layer1 ecosystems such as Berachain and Fuel in the future, further enhancing its activity and user coverage in the DeFi market.
Moreover, the security of cmETH is another highlight. The mETH Protocol behind cmETH has demonstrated reliable code security during its stable operation over the past year, and recently added audit reports from Blocksec and Quantstamp, further enhancing security and user trust.
Overall, cmETH has an excellent foundation, backed by a large and broad user base and funding at the market's initial stage.
Internally, with its multi-layered earning opportunities, convenient integration of CeFi and DeFi, and security, it shows strong competitiveness and broad potential in the market, while also reshaping the LRT market. Data shows that the total supply of LRT assets has been growing weakly or even showing negative growth since June of this year, especially after some airdrops. However, with cmETH entering the market, it is expected to awaken LRT and initiate a second growth point.
Use mETH Protocol to earn COOK and stake to obtain cmETH, ensuring multiple returns for the long-term value of COOK
The COOK token is the governance token of the mETH Protocol and a core component of the Mantle ecosystem.
According to official documentation, the total supply of COOK tokens is 5 billion, with 10% allocated to the core contributor team, locked for one year and released linearly over three years; 30% will belong to the Mantle Treasury; 10% is allocated to private investors; and the remaining 50% will be distributed to the mETH protocol community. COOK token holders can not only participate in the governance of the mETH Protocol ecosystem but also influence the future direction of the protocol through voting and other means.
In the recent Methamorphosis event, the mETH Protocol, in collaboration with 23 partners including EigenLayer, Symbiotic, Karak, and Zircuit, launched a series of interactive tasks. Users can earn Power rewards by holding mETH and completing tasks, which will ultimately be converted into COOK tokens, becoming an important source of income for holders. Additionally, the COOK Feast event provides users with more opportunities to obtain COOK tokens. By staking COOK at https://meth.mantle.xyz/feas..., users will be able to share in the $cmETH rewards!
The multi-incentive mechanism and broad distribution plan of the COOK token not only provide rich earning opportunities for users of the mETH protocol 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 the COOK token will continue to strengthen in the future, becoming an asset that cannot be ignored by users in the DeFi and LRT markets.
In conclusion
Through its innovative cmETH product, the mETH Protocol has not only solidified its leading position in the LSD track but has also successfully entered the LRT market, capturing new market dividends. With multiple earning opportunities, strong cross-platform integration capabilities, and continuously enhanced security, cmETH has become the best entry point for capturing returns in the restaking market. The COOK token provides users with opportunities to participate in protocol governance and obtain long-term value, promoting the ecological construction of the protocol and bringing considerable returns to holders.
As the mETH Protocol ecosystem continues to expand, the joint empowerment of cmETH and COOK will further drive the development of the LRT market. For investors and users, seizing this opportunity is undoubtedly an excellent way to enter the new era of the DeFi ecosystem. In the future, whether the mETH Protocol can continue to lead this industry revolution is something we will eagerly watch.