1. The mETH protocol on Mantle: An emerging force in DeFi*
On the Mantle platform, the native staking token $mETH of mETHProtocol stands out with unique liquidity and a wide range of application scenarios. Since the Season 1 airdrop, the total value locked (TVL) on the platform has reached $127 million, currently ranking as the fourth largest liquid staking token (LST) on Mantle, demonstrating great appeal to the DeFi community.
2. Key metrics of the Mantle chain
As of now, the TVL of the Mantle chain is approximately $518 million, with cumulative trading volume exceeding $11.14 billion. Compared to other Ethereum Layer 2 solutions, Mantle ranks fifth in TVL, indicating its future potential. Following the success of Season 1, the usage of mETH and cross-chain demand continue to grow, laying a solid foundation for the launch of Season 2.
3. mETH and cmETH: The bridge connecting Season 2
$cmETH is the latest introduced composite liquid staking token in mETHProtocol, combining existing liquid staking and re-staking mechanisms. By holding $COOK tokens, users can not only influence the performance of mETH and cmETH but also earn additional rewards. In Season 2, cmETH will support re-staking across multiple platforms like Eigenlayer and Karak Network, allowing users to earn double or even triple returns.
4. Strategies for participating in Season 2
Users can obtain mETH by staking ETH on the [Mantle mETH official website](https://meth.mantle.xyz/stake) and earn 10 Powder points daily. By re-staking mETH on supported platforms to obtain cmETH, users can earn more Powder and directly bridge back to the Ethereum mainnet, further enhancing liquidity. The new referral mechanism launched in Season 2 also rewards the top 100 referrers with an additional 20% in points.
5. $COOK airdrop and incentive distribution
In Season 2, the $COOK token will continue to play a key role. By participating in staking and re-staking, users will be eligible for $COOK airdrops and rewards. Additionally, every day for holding one mETH or cmETH, users can earn 10 Powder points, and using referral links will provide extra points.
Conclusion
The achievements of mETHProtocol in Season 1 mark its important role in the Mantle ecosystem. The launch of Season 2 introduces cmETH and re-staking opportunities, providing ETH holders with more ways to participate and benefit. Seize the opportunity, optimize your ETH holding strategy, and fully utilize $mETH and $cmETH to participate in innovative reward activities on the Mantle chain for greater returns.
