Mantle Restaked ETH (CMETH)

Liquid Staking and Restaking

Mantle Restaked ETH is a liquid restaking token that represents Ethereum (ETH) staked on the Mantle network. Users deposit ETH and receive Mantle Restaked ETH tokens as a claimable receipt. These tokens remain transferable and tradable, allowing users to maintain liquidity while earning staking rewards. The protocol enables restaking, meaning the staked ETH can secure multiple networks or services, increasing yield opportunities.

Network Security and Yield

The staked ETH underlying Mantle Restaked ETH is used to secure both the Ethereum network and the Mantle network through its Ethereum Virtual Machine (EVM) compatibility layer. This dual use creates additional value and yield for token holders. The protocol also integrates with other platforms like EigenLayer to diversify staking positions and enhance rewards.

Composability and Ecosystem Use

Mantle Restaked ETH tokens are highly composable within the Mantle ecosystem’s decentralized applications (dApps) and DeFi protocols. They can be used as collateral, traded on decentralized and centralized exchanges, and integrated into money markets and lending protocols, increasing capital efficiency and adoption.

Governance and Future Developments

The protocol is evolving with the introduction of governance tokens and new features to enhance user experience and staking options. It aims to provide institutional-grade liquidity and security solutions, partnering with major players to expand its ecosystem.

For more details, visit the project website.

Advantages

• Mantle Restaked ETH offers high yields for staking ETH, allowing users to earn passive income while helping secure the Ethereum network.
• It provides increased flexibility by allowing users to maximize the use of their staked assets without needing to hold large amounts.
• The token (CMETH) remains liquid and tradable, unlike traditional staked ETH which is locked, so users can trade or use it in decentralized apps.
• The platform is user-friendly with a straightforward process to convert ETH to CMETH, suitable even for newcomers.
• It uses non-custodial smart contracts and off-chain services to maximize security and enforce risk limits.
• CMETH is composable within the Mantle ecosystem, enabling various yield-bearing opportunities and capital efficiency.
• The protocol is permissionless and non-custodial, meaning users keep control of their assets.
• It ranks as the fourth largest ETH liquid staking provider by total value locked (TVL).

Disadvantages

• The price of Mantle Restaked ETH can be volatile and influenced by broader Ethereum market dynamics.
• Withdrawal delays can occur depending on liquidity buffers and Ethereum validator queues, sometimes taking 40+ days.
• Restaking adds an additional risk-reward profile compared to regular staking.
• The project is relatively new and evolving, so users should stay informed about technical and community developments.
• Trading volume and market cap fluctuate, which may affect liquidity and price stability.

Founders and Key Contributors

Mantle Restaked ETH is part of the Mantle ecosystem, which does not have a single founder. Instead, it is governed by a decentralized autonomous organization (DAO) where key decisions are made by $MNT token holders. Early key contributors to the initial proposal that introduced Mantle include jacobc.eth and Ben Zhou. Additionally, Jordi Alexander and Arjun Krishan Kalsy are recognized as founders of the broader Mantle Network protocol.

Governance and Development

Mantle is a product of BitDAO, a decentralized community-backed organization, and operates under a DAO governance model. The project is supported by a large treasury and a network of partners, with governance proposals guiding its development and initiatives.

Mantle Restaked ETH Specifics

The Mantle Restaked ETH token (cmETH) is part of the mETH Protocol, which was championed by Jordi Alexander, the chief information officer at Selini Capital. However, the specific founders of Mantle Restaked ETH remain anonymous within the broader Mantle ecosystem.

Investors in Mantle Restaked ETH

The investors in Mantle Restaked ETH include notable venture capital and crypto investment firms such as Coinbase Ventures, Temasek’s Vertex Ventures, and Galaxy Ventures. These investors participated in funding rounds supporting the development and growth of Mantle Restaked ETH.

Halal Status of Mantle Restaked ETH

• General Concept: Mantle Restaked ETH is a token representing staked Ethereum in a liquid staking protocol. It allows users to earn rewards by participating in Ethereum's proof-of-stake network without lending money or involving interest (riba).

• Islamic Finance Perspective: Staking ETH is generally considered halal because it involves securing the network and earning rewards as a result of a technical process, not from interest or loans. The reward is seen as a benefit from a joint effort rather than earning money from money.

• Specific to Mantle Restaked ETH: Since Mantle Restaked ETH operates as a non-custodial, permissionless staking protocol that aligns with Ethereum's PoS mechanism, and does not involve interest-based lending, it can be considered halal.

Answer: Yes, Mantle Restaked ETH is halal because it involves earning rewards through participation in network validation without interest or unethical activities.