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 | |
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 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 | |
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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