Overview

Status (mETH): Live, Permissionless

Status (cmETH): Live, Permissionless

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

ItemDescription

mETH receipt token

Value accumulating ERC-20 Receipt for underlying ETH principal and rewards

mETH token address

Node Operators

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 mETH 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

ItemDescription

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

Restaking Protocols

AVS Operators

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.

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