Season 3. This week.

.𖥔 ݁ ˖ BOYS ARE COMING .𖥔 ݁ ˖ 1111 soft-core e-boy souls 💗 ᯓ★ Launches January 9th Lowkey tender, highkey iconic 💫 on @0xMantle chain ⛓️

$MNT Community have been eating good recently - $MNT token chadding - 1m $MNT rewards from Oct - Dec - 4m $ENA rewards from Dec - Mar - 500k *redacted* rewards from Dec - Mar 🤭 We are ending off 2024 on a high but 2025 is gona be way bigger. So much in stored in the coming months. Honestly can't wait for 2025. @0xMantle is just getting started.

mETH Protocol is one of the largest liquid staking and restaking protocols in the industry today, boasting over $1.8B in TVL. Our governance token, $COOK, serves as a gateway, empowering you with a greater voice in our future directives.

gmeth, feasting in progress 🤤 meth.mantle.xyz/feast

18 weeks. $1,000,000,000 TVL. @IgnitionFBTC 🔥

Only 9 days left until $mETH positions are no longer eligible for Powder rewards under Season 2: Methamorphosis! $cmETH positions will still continue to accrue Powder until the end of the season. Acquire $cmETH now at meth.mantle.xyz/restake, or swap it on supported CEXs/DEXs.

Utility purposes of $cmETH and how it differs from other LRTs $cmETH is LIVE! It represents @mETHProtocol Restaked Ether, or the Mantle receipt token of their LST $mETH, restaked. Being it restaked, $cmETH unlocks new utilities and yield sources: ◾️ It inherits the Ethereum POS yield deriving from $mETH. ◾️ It accrues yield from Restaking Infra Protocol such as @Karak_Network, @eigencloud and @symbioticfi. These can ultimately leverage the big amount of liquidity coming from this LRT to support applications requiring a good degree of economic security. Obviously these protocols also leverage their AVS in this regard, leading us to the next point. ◾️ $cmETH receives yield from AVS. ◾️ Other technology partners could build mechanisms through which $cmETH, since utilized, would generate interest. ◾️ Same applies for L2 dApps and other protocols integrations. ◾️ Finally, as Methamorphosis Season 2 began, $COOK rewards add to the pile. Not only as a reward, but also as a $cmETH and $mETH governor. Now, as we ascertained in our previous piece on Methamorphosis S1 ending, $mETH TVL was $1.2B. With S2 it hasn't stopped there, now sitting at $1.4B. This number, combined with one of the largest on-chain treasuries (over $2B), forms a solid backing for $cmETH. And this is a major difference compared to other LRTs. Let's then see how $mETH restaking is looking from a data perspective, specifically through restaking protocols: 🔵On @eigencloud $mETH has a 14% dominance over the other ETH LSTs. 🟢On @symbioticfi $mETH has reached its limit of 20k $mETH, with just a 0.01% remained to supply. Demand for $mETH to be restaked is therefore high. 🟠On @Karak_Network 10% of Total Value Locked (which comprises BTC tokens, LRTs, LSTs, Stablecoins, Pendle tokens, and Governance tokens) comes from $mETH: impressive. 🔴On @veda_labs $mETH restaking vault has a 42% dominance over the other ETH restaking vaults. Definitely a strong position! Talking about $cmETH, there are currently 138k minted tokens, accounting for $452M in TVL. This means 32% of $mETH have already been restaked into $cmETH! How is it distributed? Regarding $cmETH distribution by protocol: 🔵99.5k $cmETH are on @eigencloud (72%) 🟡20.6k are undeployed (14.9%) 🟠13.7k are on @Karak_Network (9.9%) 🟢4.4k are on @symbioticfi (3.2%) Finally, a positive sign can be noticed from the difference between $cmETH on L1 and $cmETH on L2: ⚫️On L1 $cmETH amounts for 55.7k. ⚪️On @0xMantle L2 it amounts for 82.2k: so 59% of all $cmETH are on Mantle Network. This contributes in bringing more and more value to the chain and ecosystem. With that said $cmETH is surely going to empower and improve Mantle DeFi, and overcome other LRTs currently with a higher share in the LRT market. The data on the Mantle LRT is however promising other than impressive, having it launched on Oct 30. We'll keep monitoring its progress and update you. Many milestones to be hit! And...that's it. As always, make sure to follow @Chain_Eye to read quality content on quality projects.

🥩 sozu haus bbq 🥩 doctor will cook we shall feast today at 7pm link below