mantle🤔🤔
GM Ser,

I am writing on behalf of the Mantle core team. We are reaching out to let you know that Mantle is offering a target APY of 7.2% native yield — double the market reference rate — to reward early mETH users on Mantle’s recently-launched liquid staking protocol (LSP) under the mETH Double-Dose Drive.

Here's a summary of Mantle LSP:

• A permissionless, non-custodial ETH liquid staking protocol deployed on Ethereum L1 and governed by Mantle

• mETH is Mantle LSP's value-accumulating receipt token

• Double-Dose Drive is sustainably funded by Mantle Treasury’s own staked ETH with an earliest end date of April 1, 2024

How we achieved this is through Mantle’s “Top-Up” function, mETH holders will have access to rewards from: issuance, MEV, priority fees, and top-ups. The Mantle Treasury has staked a large portion of its own ETH into Mantle LSP. During the drive, the Treasury will be sustainably passing on its own ETH staking rewards to other mETH stakers via the above mechanism.

Why you should pay attention to it:

• mETH will be introduced to EigenLayer restaking through an enrolment window between Jan. 29 to Feb. 2

• The Mantle L2 ecosystem is bustling with many exciting use cases, offering substantial significant APY. This includes protocols such as Merchant Moe, Ethena, Solv Finance, Renzo, Init Capital, etc.

We are approaching our current 333k mETH capacity.

Feel free to let us know if you have any questions.

Best,

Mantle Core Team
meth.mantle.xyz/stake