The EigenLayer team recently announced here that transfer restrictions on the EIGEN token are expected to be removed on Oct. 1, 2024, at 4AM UTC.

Mantle has allocated a total of 2,098,636.67 EIGEN tokens in two phases as rewards to the community for adopting mETH, our ETH liquid staking token, through Mantle Treasury's restaking of 100K mETH on EigenLayer. Additionally, bonus EigenLayer points were also allocated to positions on Pendle’s USDe pools. These initiatives have allowed users to enjoy higher native yields across a wide range of protocols and maintain exposure to EIGEN, even allowing them to earn more EigenLayer points on average.

We are proud to announce that eligible mETH holders will be able to claim their EIGEN tokens later today on Oct. 1, 2024, at 8AM UTC. The rewards distribution is categorized into three types:

• Eligible users who held mETH on Mantle Network in Phase 1 from Feb. 9, 2024, to March 15, 2024.
• Eligible users who held mETH on Mantle Network in Phase 2 from March 16, 2024, to Sept. 25, 2024.
• Eligible users with USDe positions on Pendle via Mantle Network.

Rewards Distribution Breakdown

Phase 1

Eligible users who held mETH on Mantle Network in Phase 1 from Feb. 9, 2024, to March 15, 2024, will share a total of 1,077,480.69 EIGEN.

Calculations are as follows:

• 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:

Phase 2

Eligible users who held mETH on Mantle Network in Phase 2 from March 16, 2024, to Sept. 25, 2024, will share a total of 1,021,155.98 EIGEN.

• Total EIGEN to be Distributed to Eligible Users = 1,021,155.98
• Total EIGEN Allocated for Distribution per Day = 5,290.96 EIGEN
• Total Rewards for Eligible User on Any Given Day:

For Phase 1 and Phase 2, users' shares are calculated based on a daily snapshot. Users can also refer to the method below to calculate their total rewards individually.

Total Rewards for Eligible User Over Phase 1 OR Phase 2:

USDe positions on Pendle via Mantle Network

Users with USDe positions on Pendle via Mantle Network will be credited 0.0012 EigenLayer points per USDe daily, on top of Ethena Sats, if eligible. $EIGEN claims under this category and more details, including calculations, will be announced at a later date.

Please note that all claims will conclude on March 16, 2025. Any unclaimed EIGEN will be reallocated to the Mantle Treasury.

Please note that there will be no next tranche of EIGEN for mETH holders. However, users can continue to earn via other campaigns such as Season 1: Methamorphosis for COOK, on top of Ethereum Proof-of-Stake yields, native protocol yields, and more!