KEY TAKEAWAYS
- The mETH Protocol launches $cmETH, a liquid restaking token, on Mantle and Ethereum networks, enhancing yield opportunities.
- $cmETH offers diverse yield strategies through automated, risk-adjusted allocations, setting it apart from other liquid restaking tokens.
- Season 2: Methamorphosis incentivizes $mETH and $cmETH holdings with Powder rewards, promoting user engagement and liquidity.
- Partnerships with Veda, IntoTheBlock, Mantle, and BlockSec ensure robust support and security for $cmETH operations.
The mETH Protocol has introduced a new liquid restaking token, $cmETH, as part of its Season 2: Methamorphosis campaign. This token is now live on both the Mantle Network and the Ethereum network, offering users an opportunity to earn yields from various staking and restaking protocols.
With $cmETH, users can benefit from a range of yield opportunities, including those from ETH Proof-of-Stake validation, restaking protocols, and Actively Validated Services. Additionally, users can earn Powder for $COOK rewards during Season 2, which starts on October 30, 2024, and lasts for 110 days.
How $cmETH Enhances Restaking Opportunities
$cmETH serves as a 1:1 receipt token for $mETH restaking, allowing users to leverage multiple vault strategies through automated, risk-adjusted allocations. This versatility distinguishes $cmETH from other liquid restaking tokens (LRTs), which are often tailored for specific protocols.
Support for $cmETH vault operations is provided by Veda and IntoTheBlock, utilizing their yield-centric infrastructure to offer seamless entry into diverse yield opportunities. Mantle and BlockSec are also involved as security and DevOp partners, ensuring the protocol’s security.
Season 2: Methamorphosis Details
Season 2: Methamorphosis will feature a range of protocols supporting $cmETH integrations. While Native will only support the season for the first 30 days, updates on participating protocols will be available on mETH Protocol’s social media and campaign page.
Both $mETH and $cmETH holdings will be incentivized with Powder for the initial 30 days, allowing users time to transition without losing rewards. Powder accrual rates will vary based on holdings in wallets and qualified DeFi activities, with rewards viewable on user dashboards.
The season also includes a referral program, enabling users to earn additional Powder by referring others. Future plans involve incentivizing $cmETH restaking and expanding collaborations with DeFi protocols to enhance liquidity and user engagement. A step-by-step guide for restaking $mETH for $cmETH will be released soon.
For more details, visit the official announcement here.
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