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从 LSD 到 LRT:mETH Protocol 推动以太坊质押生态新革命

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在以太坊生态逐渐成熟的今天,质押已经成为用户获取收益的重要手段。mETH协议不仅在流动机制性质押(LSD)市场的推动地,更通过引入全新的cmETH产品,推动了再质押(LRT) )市场作为一个基于创新设计的产品,cmETH为用户提供了锁定的收益机会,同时发挥了强大的扩展潜力,成为LRT市场的新增长点。

在cmETH推出的同时,mETH Protocol也上线了COOK Feast活动,从2024年11月21日至2025年2月16日,在https://meth.mantle.xyz/feast上锁定$COOK,能够瓜分200 张 $cmETH 的奖励。

活动拱起了 cmETH 的热度,同时为 $COOK 代币赋能给持有者带来更多收益,参与 COOK Feast 活动也成为获取 $cmETH 资产的最规范方式之一。

坐稳 LSD 前沿第一梯队、进军轻轨市场,mETH Protocol 野心勃勃

mETH Protocol 是在去年 8 月份上线的非许可的流动性抵押协议,用户可以将 ETH 资产在 mETH Protocol 中进行流动性抵押获得 mETH 资产,并通过 mETH 资产继续获得收益的同时保证有资产流动性,随时转移、出售或投资至其他 DeFi 机会。

作为继 Layer2 网络后 Mantle 生态倾注所有资源打造的又一拳头产品,mETH Protocol 在 LSD 市场很快实现了弯道超车,一举成为继 Lido、Binance 质押 ETH、Rocket Pool 目前 mETH 协议升级是在无早期保障弱势的情况下,TVL 仍然能够保持在 16.33 亿美元,而通过 mETH 进行质押的 ETH 仍然能够保持在 47.9 万枚左右。

同时,mETH Protocol在发展的进程中构建了十分广泛的生态系统,目前被集成至多个类别的38个不同平台或协议之上,包括Bybit、Uniswap、StarGate、EigenLayer、Symbiotic 等多个主流平台或协议,不仅为 $mETH 资产在 DeFi 领域构建了更广泛的接受程度和收益有效地构建了基础,同时也为 mETH 协议生态的不断拓展打基础。

而在坐稳 LSD 突破头部位置后,mETH Protocol 再次展进军 LRT 市场并推出 cmETH,$mETH 持有者能够在 mETH Protocol 中进行再质押获得 $cmETH,持有 $cmETH 能够获得来自于基础质押cmETH 产品的推出,进一步凸显了 mETH 协议构建以太坊质押头部生态的野心。

cmETH:LRT市场又一独角兽?

事实上,cmETH自近期推出以来,就被多方所看好。

  • 背靠强大的 Mantle 生态

cmETH 隶属于 mETH Protocol 体系,有强大的 Mantle 生态和资源后盾和支撑。 mETH Protocol 的 ETH 质押量达到了 47.9 万枚(峰值时期达到了 50 万枚),是 ETH 头部质押量,所以理论上所有 $mETH 持有者都将是 cmETH 的潜在用户,尤其是在 Mantle 生态庞大体系的驱动下更容易实现增长。那么相对于其他 LRT 协议而言,cmETH是含着金戒指出生的。

  • 创新产品设计

cmETH产品本身在设定上,相对于其他LRT产品在创新性、易用性、收益性以及安全性上都有优势,所以在LRT市场整体增长疲软的关键,cmETH更有机会从系列LRT产品中吸收。

  • 提升可组合性帮助用户获得份额收益

cmETH产品的核心优势在于其“覆盖更多收益机会”。与市场上大多数LRT采用“偶一”的形式不同,cmETH通过“偶多”的设计,让用户通过单一的LRT覆盖到EigenLayer 、Symbiotic、Karak、Zircuit 等多个再质协议。这一创新极大地减少了用户在选择不同 LRT 时的困惑,也避免了因 LRT 过多而导致的流动性碎片化押金问题。用户确实持有cmETH,可以同时利用一系列的收益,包括

  • ETH质押收益
  • 再质押协议收益(拥有包括 Eigenlayer、Symbiotic、Karak 等票据的再质押选择押)
  • AVS 收益
  • COOK 代币收益(mETH Protocol 治理代币)
  • 其他合作伙伴损失
  • dApp 和协议集成

所以从用户的角度出发,cmETH也正在成为用户从LRT市场获取收益的最佳方式。

CeFi 和 DeFi 杠杆可拓展性热点话题

无论是在 CeFi 侧还是 DeFi 侧,cmETH 都表现出了出色的便捷性。

作为 Mantle 生态的一部分,cmETH 目前已经获得了 Bybit 交易所的深度支持。在 Bybit 上,用户可以直接通过平台质押 mETH 并剩余链上积分,且 mETH 也支持作为抵押资产。这为 cmETH 提供了良好的支持CeFi 的集成基础,用户不仅能够在 CeFi 和 DeFi 之间灵活切换,还能享受到跨平台的便捷操作。

cmETH 在 DeFi 方面的“可用性”也说明提供了强大的扩展潜力。通过采用 LayerZero 的 OFT 标准,cmETH 使用户能够在几个内部实现无滑点的链间桥接,快速接入不同的 DeFi 协议。根据 mETH 在多个生态中集成成功的案例,预计 cmETH 也有望在未来加入到Berachain 和 Fuel 等新兴的 Layer1 生态中,进一步提升其在 DeFi 市场的活跃度和用户覆盖。

另外,cmETH的安全性也是其一大亮点。cmETH背后的mETH协议已经在过去一年的稳定运行中展示了其可靠的代码安全性,近期还新增了来自Blocksec的 和Quantstamp的审计报告,进一步提升了安全性和用户信任度。

综合来看,cmETH本身拥有优秀的基础,在面向协议市场的基础上就背靠庞大且广泛的用户面以及资金面。

从内求来看,凭借其多层次的收益机会、CeFi 和 DeFi 的便捷集成、以及安​​全性,表现出在市场上强大的对抗和外汇的潜力,同时其也正在对 LRT 市场进行培育。数据上看,LRT资产总供应量在今年六月份以后,尤其是一些空投下半年以后开始增长疲软甚至开始出现负增长。而cmETH面向市场后期,有望唤醒LRT开启第二增长点。

使用mETH协议欠COOK,并质押获得cmETH,承诺收益保证COOK长期价值

COOK代币是mETH协议的治理代币,也是Mantle生态的核心组成部分。

根据官方文档,COOK代币的总供应量为50亿枚,其中10%将分配给核心贡献者团队,锁定期限为1年,将分三年线性释放;30%将归属于Mantle Treasury;10 % 分配给私募投资者;剩余的 50% 分配将给 mETH 协议社区。COOK 代币持有者不仅可以参与 mETH 协议的生态治理,还可以通过投票等方式影响协议未来的方向。

在近期的《变形记》活动中,mETH Protocol 联合 EigenLayer、Symbiotic、Karak、Zircuit 等 23 个合作伙伴推出了一系列互动任务,用户通过持有 mETH 并完成任务,可获得 Power 奖励,这些奖励最终将转换为 COOK此外,COOK盛宴活动也为用户提供了更多获得COOK代币的机会。通过将COOK代币在https://meth.mantle.xyz/feast中质押,用户将能够瓜分$cmETH奖励!

COOK代币的周期性机制和广泛的分配计划,不仅在短期内为 mETH 协议的用户提供丰富的收益机会,也能在长期内的价值增长奠定了坚实的基础。的不断扩展,COOK代币的治理与价值将在未来增强,成为用户在DeFi持续和LRT市场中不可忽视的资产。

写在最后

mETH Protocol 通过其创新的 cmETH 产品,不仅在 LSD 加固中支架了自己的领先地位,还成功进军了 LRT 市场,夺取了新的市场红利。通过休眠机会、强大的跨平台整合能力及不断增强的安全性,cmETH 已成为捕获再质押市场收益的最佳入口。而 COOK 代币则为用户提供了参与协议治理和获取长期价值的机会,不仅促进了协议的生态建设,也将为持有者带来来了可观的回报。

随着mETH Protocol生态的不断拓展,cmETH和COOK的联合赋能,将进一步推动LRT市场的发展。对于投资者和用户而言,抓住这一机会,无疑是进入新时代DeFi生态的最终途径。未来,mETH协议是否能够继续引领这一行业的革命,我们值得拭目以待。

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