The Mantle DAO team has launched a liquid staking protocol on the Ethereum mainnet with access to “expanded yield opportunities.”
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? Introducing a Mantle core product: Mantle LSP, a permissionless, non-custodial ETH liquid staking protocol!
Get your hands on $mETH, the value-accumulating receipt token that opens the gateway to expanded yield opportunities.
? Check out the APY at: https://t.co/5uJADLgHiF pic.twitter.com/Lw7upiRS5V
— Mantle (@0xMantle) December 4, 2023
In exchange for ETH deposited, participants in Mantle LSPwill receive a share of Mantle Staked Ether (mETH). Activity within the protocol entails certain bonuses.
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METH is a value-accumulating token standard ERC-20.
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The initiative represents an expansion of the Mantle ecosystem following the launch L2-network and the team’s aim to offer alternatives to available LSD protocols.
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“The concentration of staking reflects network effects through a feedback loop […]. By focusing on integrating mETH into LSDfi both within the Mantle ecosystem and beyond, and on its capital efficiency […], Mantle LSP intends to offer more opportunities for users,” — said Mantle’s Chief Alchemist Jordi Alexander.
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Earlier, Glassnode analysts evaluated the impact of liquid staking Lido Finance on Ethereum.
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As reported in September L2-project Mantle Network integrated the USD Yield (USDY) stablecoin from Ondo Finance pegged to the US dollar.
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