Mantle LSP (Liquid Staking Protocol) is the liquid staking product operated by the Mantle ecosystem — a large crypto project with one of DeFi's largest DAO treasuries (originally from the BitDAO merger). mETH is the LST token, and the protocol has grown rapidly due to Mantle's significant treasury deployment into its own liquid staking product.
mETH Token
mETH is a non-rebasing ETH LST that appreciates in ETH terms as validators earn rewards. Mantle operates validators using institutional node operators across its curated set. The commission rate is competitive (10%) with other major LSTs.
Mantle's DAO treasury — one of the largest in crypto — has deployed substantial ETH into mETH, providing an initial liquidity base that helped bootstrap the protocol rapidly. As of 2024, mETH holds over $1.2B in ETH.
Mantle Network Integration
mETH bridges directly to Mantle Network (an Ethereum L2), where it serves as a primary yield-bearing asset in Mantle's DeFi ecosystem. Users can stake ETH for mETH on Ethereum, bridge to Mantle L2, and deploy mETH in Mantle DeFi protocols — accessing both staking yield and additional DeFi yield simultaneously.
COOK Token
COOK is the governance token for the Mantle LSP, managing validator selection, fee parameters, and integration partnerships. COOK was distributed through a points program rewarding early mETH holders.
Strategy: mETH + Mantle DeFi
The recommended strategy for yield maximization: stake ETH for mETH on Ethereum, bridge to Mantle L2, supply mETH to lending protocols on Mantle (earning supply yield on top of staking yield), and borrow stablecoins against mETH to deploy in Mantle's high-APY liquidity pools. The total yield stack can reach 8–12% in favorable market conditions.