Overview

Status (mETH): Live, Permissionless

Status (cmETH): Under Development

The contents of this GitBook are currently under dynamic changes in preparation for the cmETH product expansion (MIP-30) and may be updated frequently without prior notice.

Description

mETH Protocol is a permissionless, vertically integrated protocol for ETH liquid staking and liquid restaking, available at: https://meth.mantle.xyz/.

Key Points

mETH mETH is a value-accumulating receipt token for ETH staking. Users can redeem mETH for the underlying principal and accumulated ETH rewards. It is a straightforward product with risk-reward profile associated with Ethereum 2.0 validation services. cmETH cmETH is a 1:1 receipt token for mETH restaking across a portfolio of positions, including EigenLayer, Symbiotic, Karak and associated Actively Validated Services. Rewards will accrue in multiple third-party assets, which users can claim periodically. cmETH Unified Receipt Token cmETH is a unified receipt token for a portfolio of restaking positions, providing users with a convenient way to participate in the risk-reward profile of restaking. cmETH Omnichain cmETH utilizes the LayerZero OFT Standard, providing added convenience to users by enabling fast bridging between chains within minutes and without slippage. Capital Efficiency Both mETH and cmETH can be leveraged across a range of DeFi and centralized applications, such as as collateral for money markets or perpetual trading. COOK COOK is the governance token for mETH Protocol. Opt-in Users opt in to their desired risk-reward profile by choosing to hold either mETH or cmETH. mETH does not assume restaking risk. cmETH incorporates the risk-reward profile of mETH.

Product Information

mETH

Item	Description
mETH receipt token	Value accumulating ERC-20 Receipt for underlying ETH principal and rewards
mETH token address	eth:0xd5F7838F5C461fefF7FE49ea5ebaF7728bB0ADfa mantle:0xcDA86A272531e8640cD7F1a92c01839911B90bb0
Node Operators	A41, P2P, Blockdaemon, stakefish
Rewards	Realized in ETH upon redemption https://meth.mantle.xyz/stats/apy
Risks (slashing)	Ethereum proof-of-stake validation penalties.
Protocol Fee	10% of rewards A portion is shared with the Node Operators
Oracles	Quorum required: 3 of 6 Update frequency: 8 hours
Vault Access	Ethereum L1
Deposits / Stake	Permissionless Instant 4bps fee (see Adjustment Rate)
Withdrawals / Unstake	Permissionless Up to 8 day delay (see Unstake Lifecycle) FIFO queue mechanism Cancel mechanism (see Quotation and Slippage) No fees
Bridging	Rollup standard bridges with L1 to L2 within ~2 minutes, and L2 to L1 within ~ 3-7 days.

cmETH

Item	Description
cmETH receipt token	Pegged 1:1 with mETH ERC-20 LayerZero OFT Receipt for underlying mETH principal restaked across a dynamic set of restaking protocols
cmETH token address	eth:0xE6829d9a7eE3040e1276Fa75293Bde931859e8fA mantle:0xE6829d9a7eE3040e1276Fa75293Bde931859e8fA
Restaking Protocols	EigenLayer, Symbiotic, Karak
AVS Operators	A41, P2P
Rewards	Inherits mETH rewards Additional restaking rewards (details TBD)
Risks (slashing)	Inherits mETH risks Additional risks associated with AVS penalties (if enabled)
Protocol Fee	20% of restaking rewards will be reserved for growth initiatives.
Oracles	No dependency
Vault Access	Ethereum L1
Deposits / Restake	Instant No fees
Withdrawals / Unstake	Up to ~7 day delay, depending on available inventory and thirdparty restaking protocol cooldowns.
Bridging	LayerZero OFT ~5 minutes between chains with no slippage.