As we edge closer to the introduction of $cmETH, our team continues to work behind the scenes to bring the most user-friendly restaking experience to Mantle. We thought it would be fitting to give users an insight into how restaking will work on Mantle, while also reminding them how they can start getting involved with the next growth phase of mETH Protocol, formerly known as Mantle LSP.

What Is Restaking

Restaking is a relatively new and innovative concept in the DeFi landscape that allows staked assets in Proof-of-Stake (PoS) blockchains to be reused to secure other Ethereum-based protocols. This enables dApps to leverage Ethereum's PoS security instead of creating their own staking mechanisms, enhancing the utility of staked ETH beyond its primary network security function.

Restaking on Mantle

Through $mETH, mETH Protocol enables users to benefit from capital efficiency, convenience, and broad use cases on Mantle Network. With the upcoming introduction of $cmETH, users will have the option to tap into additional yield-bearing opportunities while maintaining these benefits. Furthermore, restaking enhances Mantle’s ability to offer market-leading rewards to our users through our core products.

To ensure the sustainable long-term growth of $cmETH, it will support multiple protocols, providing flexibility and relevance to $cmETH holders. As more restaking protocols and LRTs appear, it's apparent that many lack composability, inhibiting their adoption and long-term growth. To avoid this, similar to $mETH, $cmETH will be highly composable within Mantle Ecosystem, enabling users to access various yield-generating opportunities through L2 dApps and protocol integrations. However, this is just one of the ways users can benefit. Here is a list of the yield avenues available to $cmETH holders:

1. Yield from ETH Proof-of-Stake validation (provided via the underlying $mETH)
2. Yield from restaking protocols (e.g., EigenLayer, Symbiotic, Karak, etc.)
3. Yield from Actively Validated Services (AVS)
4. $COOK rewards (multiple seasons)
5. Other technology partner rewards
6. Yield from L2 dApps and Protocol Integrations

Join the Next Growth Phase of mETH protocol With Season 1: Methamorphosis!

MantleLSP also announced $COOK as the new governance token, guiding future initiatives for both $mETH and $cmETH products. To kickstart the next development phase of mETH Protocol, we've introduced multiple ways to start earning $COOK throughout Season 1 of $COOK's distribution phase.

Please note that the Token Generation Event (TGE) of $COOK is estimated to occur at the end of Season 1: Methamorphosis, in mid-October, so all the rewards we are about to discuss won't be available until the TGE has occurred. All further updates will be posted across our social channels, so make sure you're following Mantle's X/Twitter.

Season 1 Allocation

At the Token Generation Event (TGE), 5 billion tokens will be created. 15% of these tokens will be initially distributed among four ecosystem initiatives. Here is the breakdown of the $COOK rewards allocation for ongoing campaigns in Season 1:

Season 1: Methamorphosis — 5% (250,000,000 tokens) Accumulate Powder, our "points"-inspired rewards. Users will begin accruing Powder on their $mETH positions across our partner protocols, calculated via daily indexing. Read our Season 1: Methamorphosis step-by-step guide on how to start earning Powder today.

Mantle Rewards Station — 4% (200,000,000 tokens) Lock $MNT on Mantle Rewards station and collect your share of 200 million $COOK.

Puff — 5% (250,000,000 tokens) 5% of $COOK tokens will be distributed to the Puff project.

Puff NFT — 1% (50,000,000 tokens) 1% of $COOK will go towards Puff NFT holders.

For more information regarding the Season 1 $COOK Campaign Rewards Allocation please visit here.

It's an exciting time to be a part of Mantle Ecosystem, with many new initiatives coming your way. To stay updated with the latest happenings within Mantle, be sure to follow Mantle's X/Twitter account, where you'll hear all the updates first!