Mantle Restaked Ether ($cmETH) is a permissionless, composable liquid restaking token that unlocks restaking opportunities on Mantle. It is part of the mETH Protocol, which has been operating since late 2023 on Ethereum layer 1 (L1) under Mantle’s governance. The protocol allows users to stake ETH in exchange for $mETH, a value-accumulating receipt token that provides exposure to additional yield-bearing opportunities across various DeFi applications on Mantle Network L2. Users can unstake $mETH to retrieve their original staked ETH principal along with accumulated rewards.

Driven by Mantle’s mission to offer a user-friendly and rewarding experience, $mETH has seen widespread ecosystem adoption. Holders can trade on Mantle DEXs, earn yield by supplying liquidity to $mETH pools, and generate returns within decentralized money markets. Due to this growing composability and adoption, the protocol currently ranks as the fourth largest ETH Liquid Staking Provider (LSP) by Total Value Locked (TVL). With the launch of $cmETH and the planned introduction of $COOK, the protocol’s upcoming governance token, mETH Protocol is entering its next phase. These developments aim to provide capital efficiency and convenience while maximizing security through non-custodial core smart contracts and off-chain services that enforce risk limits and sanity bounds.