Mantle Rolls Out Non-Custodial Liquid ETH Staking to Disrupt Status Quo

Coinmama
Mantle Rolls Out Non-Custodial Liquid ETH Staking to Disrupt Status
Blockonomics is a decentralized and permissionless bitcoin payment solution

[ad_1]

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 while still earning staking rewards and securing the Beacon Chain.

By freeing up locked value, Mantle seeks to lower barriers to participating in consensus while circumventing centralized intermediaries. The project elected to stake a portion of its formidable $470 million treasury using the protocol to boost mETH adoption.

“The concentration of ETH staking is a result of network effect through a feedback loop of increasing name recognition and use case,” said Mantle Chief Alchemist Jordi Alexander. “By focusing on mETH’s adoption in LSDfi both in the Mantle ecosystem and beyond…Mantle LSP intends to be a part of the solution by creating more options for users.”

Mantle emerged from the merger of developer group BitDAO and middleware protocol Parmi in early 2023. Beyond Mantle Network layer-2 scaling, liquid staking constitutes a dual infrastructure pillar aimed at greater decentralization.

With the third-largest treasury backing the initiative and an emphasis on composability between mETH and Mantle’s layer-2, Mantle LSP offers a credible path to gaining share in liquid staking. Already seated firmly in architecture development, Mantle now can leverage its technical competency and well-capitalized position to push a new standard aiming for the number three spot measured by ether deposits.

If boosting appeal for mETH while delivering a competent user experience crossing chains and protocols, Mantle may emerge as the next viable alternative for accessing Ethereum staking without fully relinquishing control or liquidity.

bc500



[ad_2]

Source link

[wp-stealth-ads rows="2" mobile-rows="3"]
Genesis-mining