Since the inception of mETH Protocol, Mantle's mission has been to deliver the most user-friendly and rewarding $mETH experience. With $mETH's increasing adoption and composability within Mantle Ecosystem dApps, and the protocol now ranking as the 4th largest ETH Liquid Staking Protocol (LSP) by TVL, it's clear we've made significant strides toward that goal. Now, with the passage of MIP-30, mETH Protocol enters its next phase, further enhancing Mantle’s offerings. This includes the introduction of $cmETH — a permissionless, composable liquid restaking token that unlocks restaking opportunities on Mantle — and the protocol's new governance token, $COOK.

What is mETH Protocol?

mETH Protocol is a permissionless, vertically integrated platform for:

1. Non-custodial $ETH Liquid Staking.
2. Non-custodial $mETH Liquid Restaking (once it becomes available).

Through these features, mETH Protocol offers users capital efficiency, convenience, and a wide range of yield-bearing opportunities within Mantle Ecosystem dApps, all in a design that has been created to maximize security with non-custodial core smart contracts and off-chain services that enforce sanity bounds and risk limits.

(1) mETH: Bringing Sustainable Yield on Top of ETH Staking

Stake ETH and receive yield-bearing $mETH. Unstake $mETH to receive the underlying principal staked ETH and accumulated rewards. Check out our step-by-step $mETH staking guide, included in our "mETH Protocol: How to Get $mETH" blog, which walks you through the entire staking process.

Stake Now

Deployed on Ethereum Layer 1 (L1) and governed by Mantle, mETH Protocol provides users with access to $mETH, a value-accumulating receipt token that is highly composable across a range of DeFi applications on Mantle L2, offering exposure to additional yield-bearing opportunities.

For instance, $mETH holders can benefit from the following use cases within some of Mantle's showcase applications:

1. Trade on Mantle DEXs.
2. Earn yield by providing liquidity to $mETH LPs.
3. Generate yield within decentralized money markets.

For a complete guide on how you can put your $mETH to work within Mantle Ecosystem, visit here.

(2) cmETH: Bringing Restaking Rewards to Mantle

As part of Mantle's commitment to offering users the latest DeFi opportunities and industry-leading rewards, the passage of MIP-30 marked a new growth phase for mETH Protocol with the introduction of $cmETH, a highly composable and liquid restaking token. $cmETH will allow Mantle users to seamlessly access restaking opportunities in addition to the base Ethereum Proof-of-Stake yields, simply by converting their $mETH to $cmETH.

Once $cmETH is available, holders will have access to the following yield opportunities:

With the rise of restaking protocols and liquid restaking tokens (LRTs), many face challenges due to limited composability, which hinders their adoption and long-term potential. To address this, $cmETH — like $mETH — will be designed for high composability within Mantle Ecosystem, allowing users to tap into a variety of yield-generating opportunities via L2 dApps and protocol integrations.

Giving Power to the People With $COOK

As part of its next growth phase, mETH Protocol will also include its own governance token, $COOK, which will guide future initiatives for both $mETH and $cmETH products. This will empower stakeholders to actively participate in decisions concerning the development and strategic direction of the mETH Protocol.

At the Token Generation Event (TGE), a total of 5 billion $COOK tokens will be created. 15% of these tokens will be initially distributed among four ecosystem initiatives, including Season 1: Methamorphosis. Read our comprehensive guide on how users can start accumulating $COOK here. Additionally, keep an eye on the Methamorphosis campaign page, where you'll find all the latest Methamorphosis campaigns.

If you have any questions about the mETH Protocol, join the Mantle community on Discord, where our team is ready to assist you. To stay updated on the latest mETH Protocol developments, follow our official X/Twitter account @mETHProtocol.