Restake your $mETH for $cmETH now, and participate in Season 2: Methamorphosis!

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$cmETH is the new liquid restaking token incubated under mETH Protocol, and is now live on Mantle Network and Ethereum network. With $cmETH, users will earn yields from staking, yields from multiple restaking protocols via risk-adjusted vault strategies, Powder for $COOK rewards under Season 2: Methamorphosis, while having the flexibility to use it freely across DeFi integrations to enjoy even higher rewards.

If you're looking to enter the growing restaking space, $cmETH makes the whole process easier for you.

Introducing $cmETH

mETH Protocol is one of the largest liquid staking and restaking protocols on Ethereum. Its liquid staking token, $mETH, has grown to become the 4th largest ETH LST in less than a year, achieving a peak TVL of $2.19 billion. With $cmETH, mETH Protocol continues to evolve and capture even greater market share by expanding into the restaking sector.

$cmETH is a 1:1 receipt token for $mETH restaking, which includes a portfolio of positions spanning EigenLayer, Symbiotic, Karak, and associated Actively Validated Services. Unlike most LRTs, which are tailored for specific protocols, $cmETH's versatility allows users to leverage multiple vault strategies through automated, risk-adjusted allocations, as restaking platforms continue to grow.

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As such, users who hold $cmETH can enjoy the following yields:

1. Yields from ETH Proof-of-Stake validation (underlying $mETH)
2. Yields from restaking protocols
3. Yields from Actively Validated Services (when it becomes available)
4. Powder for $COOK Rewards
5. Yields from other technology partner rewards (when it becomes available)
6. Yields from L2 dApps & protocol integrations

Support for $cmETH vault operations come from Veda and IntoTheBlock, leveraging their yield-centric infrastructure, flexible design and composability across DeFi to help deliver for users a seamless entry into diverse and high-performance yield opportunities.

$cmETH also counts Mantle and BlockSec as its security and DevOp partners, ensuring protocol security around the clock.

Season 2: Methamorphosis

Season 2 will start on Oct. 30, 2024, and last for 110 days.

We are pleased to introduce the full list of protocols that will support $cmETH integrations for Season 2.

Disclaimer: Please note that Native will only be supporting Season 2 for the first 30 days, until further notice. Participating protocols may be updated periodically during the season. Please refer to our updates on mETH Protocol's X/Twitter and the Methamorphosis Campaign page for the latest information.

While $cmETH holdings will be a core focus for Season 2, both $mETH and $cmETH holdings will be incentivized with Powder for the first 30 days to give users more time to switch from $mETH to $cmETH without missing out on any initial rewards.

The rewards format will be similar to Season 1; however, L1 protocols will not be incentivized in Season 2. Different Powder accrual rates will apply to holdings in wallets and within various qualified DeFi activities, calculated via daily indexing.

Powder rates are as follows:

Users will be able to view their Powder rewards from $mETH holdings on their dashboard upon the first indexing, but rewards from $cmETH holdings and the interface for restaking protocol rewards will only be released at a later date.

Season 2: Methamorphosis also includes a referral program, allowing users to earn additional Powder by referring users and boosting their total $COOK rewards. All users will have the opportunity to enter their preferred referral code. However, once a referral code is bound, it cannot be changed.

With the support of Mantle, future plans include incentivizing $cmETH restaking, launching new growth initiatives, and expanding collaborations with DeFi protocols to further enhance liquidity and user engagement within the ecosystem. Additionally, $COOK holders will play a crucial role, wielding greater influence on the strategic direction of products under mETH Protocol.

A step-by-step guide on how to restake your $mETH for $cmETH will also be released later this week.

Begin your restaking journey with $cmETH today!