Dear Mantle Community,

We’re excited to roll out Mantle's mETH Double-Dose Drive — a program specially crafted for rewarding early Mantle Staked ETH users in a big way.

Simply put, we took the market's yield, and doubled it: 2X for 2 months minimum (Edit: Earliest End Date: April 1, 2024)

Summary

• 7.2% native yield — double the market reference rate for ETH liquid staking protocols
• Starts Dec. 22, 2023
• Maintained for at least 2 months
• Sustainably funded by Mantle Treasury's own staked ETH
• Capped at 250,000 mETH (Edit: Cap raised to 333,333 mETH beginning Jan. 15, 2024) — Permissionless participation https://meth.mantle.xyz/stake

Details

Native Yield Mechanism

The double-dose yield is in real ETH via Mantle LSP's "Top-Up" function. mETH holders will have access to rewards from: issuance, MEV, priority fees, and top-ups. This does not require additional actions from mETH holders — the rewards will be reflected in the mETH to ETH primary market rate.

Sustainably Funded

The Mantle Treasury has staked a large portion of its own ETH into Mantle LSP. During the drive, the Treasury will be sustainably passing on its own ETH staking rewards to other mETH stakers via the above mechanism.

Permissionless, Limited Capacity

A mETH total supply limit will be enforced for the duration of this campaign and Mainnet v1 phase of Mantle LSP. Staking mETH is permissionless and first-come-first-serve.

More Rewards on L2

mETH has been configured as a tracked asset for Mantle Journey Season Alpha. Several L2 Applications have also committed to utilize mETH in their protocols and farming campaigns.

Actions

• Stake Now: https://meth.mantle.xyz/
• Bridge to L2 for more rewards: https://bridge.mantle.xyz/