Following EigenLayer's Season 1 Phase 1 EIGEN distribution, we're excited to announce that mETH holders who held their mETH on Mantle L2 from Feb. 9, 2024 to March 15, 2024 will be able to view their earned EIGEN tokens corresponding to the amount of EigenLayer Points earned on Mantle Network during this period.

Mantle Treasury has restaked a large quantity of mETH into EigenLayer, and a vast majority of the earned EigenLayer Points are being allocated to mETH holders on Mantle L2, which can eventually be converted to EIGEN tokens. mETH holders have been able to view their mETH holdings on Mantle Network and the amount of EigenLayer Points accumulated since the launch of the mETH User Dashboard on April 29, 2024.

You will be able to view your allocated EIGEN tokens for the period of Feb. 9, 2024 to March 15, 2024 (if eligible) on the mETH User Dashboard from May 16, 2024 onwards. EigenLayer Points accumulated from Feb. 9, 2024 to March 15, 2024 will be removed from the dashboard, i.e., after May 16, 2024, the dashboard will only display points accumulated from March 16, 2024 onwards.

*EIGEN rewards from this initiative are generated from restaked mETH by the Mantle Treasury into EigenLayer and gifted to mETH holders on L2 for their support. Only mETH holders who have held and are holding mETH on Mantle L2 will be eligible for rewards under this initiative.

View on Dashboard

Here's how you can calculate how much EIGEN you will get for holding mETH on Mantle L2 from Feb. 9, 2024 to March 15, 2024:

• Total EIGEN to be Distributed to Eligible Users = 1,077,480.69 EIGEN
• Total EIGEN Allocated for Distribution per Day = 30,785.16 EIGEN
• Total Rewards for Eligible User on Any Given Day:
• Total Rewards for Eligible User Over Entire Phase 1 Period:

For example, if User A holds 50 mETH on a given day, they will receive:

Please note that final tokens claimable are subject to the EigenLayer team's announcement. Allocated EIGEN tokens are currently not transferable; do look out for further announcements on the claiming of allocated EIGEN tokens, currently estimated to be in Q3.

Any remaining EigenLayer Points will be processed as usual for mETH holders on Mantle Network. Further details regarding subsequent token distributions will be provided by the EigenLayer team as updates become available.