Mantle Launches Incentives Campaign for its Liquid Staking Protocol – Crypto News – Crypto News
Connect with us
Mantle Launches Incentives Campaign for its Liquid Staking Protocol Mantle Launches Incentives Campaign for its Liquid Staking Protocol

De-fi

Mantle Launches Incentives Campaign for its Liquid Staking Protocol – Crypto News

Published

10 months ago

on

The ‘Metamorphosis’ campaign rewards stakers with Powder, which will be convertible to COOK, Mantle LSP’s future governance token.

Ethereum Layer 2 Mantle Network has unveiled the first season of its “Metamorphosis” campaign, which allows mETH users to begin accruing “Powder,” similar to points, that will be convertible to Mantle LSP’s future governance token, COOK.

The campaign will reward those using Mantle’s Ethereum restaking platform, both natively and on partner protocols such as Pendle or EigenLayer. However, mETH holdings and native usage on Mantle will yield more Powder.

Metamorphosis Rewards

Season 1 begins today and is expected to end in October. Mantle’s native token, $MNT, is up 8% this week.

In addition to accumulating Powder, Metamorphosis also aims to position $mETH holders for the upcoming transition into Mantle’s new Liquid Restaking Token (LRT), cmETH, which will feature a full range of variable yields, as well as additional incentives from Mantle’s ecosystem partners.

mETH TVL
mETH TVL

The market capitalization of mETH sits at $1.65 billion, making it the fourth-largest liquid staking token (LST) in DeFi, only trailing Lido’s stETH, Rocket Pool’s rETH, and Binance staked ETH.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending