Decentralized autonomous organization (DAO) Mantle has released a permissionless liquid staking protocol on Ethereum mainnet. The launch aims to expand liquid staking solutions beyond concentrated providers like Lido and Rocket Pool which currently dominate ether stakes.
Keypoints
- Mantle has launched a non-custodial liquid staking protocol on the Ethereum mainnet
- The protocol allows users to stake ETH and receive mETH tokens representing their stake
- mETH is a liquid staking derivative that allows ETH stakers to free up capital while earning yield
- Mantle aims to diversify liquid staking solutions beyond major providers like Lido and Coinbase
- Mantle DAO plans to stake some of its $470M treasury using the protocol to bootstrap adoption
The protocol allows users to stake ETH while receiving mETH tokens representing their share. As a liquid derivative, mETH unlocks staked capital to utilize in DeFi or other protocols…
