Mantle
Staking · Liquid Staking · mETH
Mantle Staked Ether (mETH) is a non-rebasing liquid staking token that is the staking backbone of the Mantle ecosystem, accruing ETH staking rewards.
L2-ecosystem ETH liquid staking.
Total staked
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Latest data · 15 min delay
Risks identified
- Smart Contract
mETH, cmETH, BoringVault, PositionManagers and oracle are on-chain contracts. Audits across releases surfaced HIGH/MEDIUM/LOW findings (e.g. the MixBytes review reported 3 HIGH, 4 MEDIUM, 7 LOW, all acknowledged or fixed); residual bug/exploit risk remains.
- Reserve / Depeg
mETH is a reward-bearing claim on staked ETH whose secondary-market price can trade below its intrinsic ETH exchange rate during stress or thin liquidity; cmETH adds a second wrapping layer that can decouple from mETH.
- Counterparty
cmETH routes principal into third-party restaking protocols (EigenLayer, Symbiotic, Karak) and their AVSs, exposing holders to those external protocols' operator, slashing and contract failures beyond Mantle's control.
- Network
Underlying yield depends on Ethereum PoS validator performance; validator downtime or slashing reduces mETH's exchange rate, and unstaking is subject to Ethereum's exit queue plus protocol withdrawal delays.
- Governance
mETH Protocol is governed by Mantle with COOK as its governance token and a large treasury/contributor allocation; concentrated voting power and treasury control could steer parameters against some stakeholders.
- Oracle
The mETH exchange rate relies on an oracle (separately audited); faulty or manipulated oracle updates could misprice mETH for mint/redeem and downstream DeFi integrations.