METH Mantle Staked Ether

Key Use Cases of Mantle Staked Ether

• Liquidity and Yield: Mantle Staked Ether (mETH) allows users to stake their Ethereum (ETH) and receive mETH, a liquid staking token that represents their staked value and accumulated rewards. This token can be traded on various exchanges and used within the Mantle Ecosystem and other DeFi applications to generate additional income.

• DeFi Integration: mETH can be integrated into various DeFi applications within the Mantle Ecosystem and beyond, enhancing its utility and efficiency. This includes leveraging mETH in lending, borrowing, and other financial services, thereby expanding the DeFi ecosystem.

• Restaking and Delegation: Users can further stake mETH to issue cMETH, which can be used in Actively Validated Services (AVS) on EigenLayer, contributing to network security and generating additional income. This process allows users to participate in restaking and delegation, unlocking new opportunities for yield and security.

• Market Dynamics: The ETH to mETH exchange rate is deterministically calculated, reducing the impact of stake size on slippage. mETH pricing is governed by market dynamics, making it a valuable asset in the DeFi space.

• Ecosystem Expansion: The adoption of mETH across various applications and partnerships with other DeFi platforms enriches the Mantle Ecosystem, increasing liquidity and diversifying the use cases of mETH.

Pros of Mantle Staked Ether

• EVM Compatibility: Mantle Staked Ether is part of the Mantle Network, which is EVM-compatible. This means developers can deploy Ethereum DApps on it and use Ethereum smart contract development frameworks like Remix, Truffle, Hardhat, and Foundry.
• Affordable Transaction Fees: Mantle Network slashes gas fees considerably, cutting transaction costs by more than 80% thanks to batched transactions and its modular design.
• Hyper-scaling: Mantle introduces a separate decentralized data availability layer with the help of EigenDA, allowing it to improve Ethereum’s efficiency and potentially achieve throughputs as high as 1TB/s or more.
• Ethereum-secured: Mantle transactions use the same validator sets and consensus process as Ethereum transactions, benefiting from the security of one of the most secure blockchains in the industry.
• Staking and Governance: Mantle Staked Ether allows users to participate in staking and governance, providing a way to earn rewards and influence network decisions.

Cons of Mantle Staked Ether

• Newness: Mantle launched on the mainnet alpha in July 2023, so it has a long way to go before it can deliver its full potential.
• Centralized Sequencer: The core Mantle team initially uses its own centralized sequencer node, which puts the network at risk of censorship resistance. Although it plans to make sequencer nodes decentralized in the future, this is a current limitation.
• Dependence on Ethereum: As a layer 2 scaling solution, Mantle is dependent on Ethereum. If Ethereum’s Proof-of-Stake consensus mechanism helps it speed up, then Mantle and its ilk may become less necessary.
• Staking Complexity: Staking on Mantle involves technical steps and understanding of the staking process, which can be challenging for beginners.
• Market Volatility: The value of staked ETH is subject to large fluctuations, and users risk losing their earnings from staking if ETH’s market price falls significantly while their funds are frozen.

Founders of Mantle Staked Ether

Mantle Staked Ether is part of the Mantle Network, which was created by BitDAO. The founders of BitDAO are Ben Zhou and Daniel Yan, who are also the co-founders and executives of Bybit. Ben Zhou is a former forex trader and a serial entrepreneur in the crypto space, while Daniel Yan is a former hedge fund manager and a co-founder of Tencent-backed fintech company Matrixport.

Investors in Mantle Staked Ether

The specific investors in Mantle Staked Ether are not listed in the provided sources. However, here are some key points about the project:

• Project Overview: Mantle Staked Ether is a value-accumulating receipt token for ETH staking, part of the Mantle ecosystem which includes a high-performance Ethereum layer-2 network and various token-governed products.
• Governance: The strategic direction of the Mantle ecosystem is determined by token holders, indicating a decentralized governance structure.
• Ecosystem: The project is built on Ethereum and leverages extensive existing resources to deliver a rewarding experience for stakers.
• Token Functionality: The receipt token (mETH) represents a claim to the underlying staked principal and accumulated rewards, which can be used in various DeFi and centralized applications.

For detailed information on investors, it is recommended to visit the official Mantle website or contact the project directly.

Halal Status of Mantle Staked Ether

• Halal Status: Yes
• Reason: Mantle Staked Ether is based on the Ethereum blockchain, which operates using a proof-of-stake mechanism. In Islamic finance, staking can be considered halal if it does not involve riba (interest) and if the underlying asset and the blockchain platform adhere to Sharia-compliant principles. Since Ethereum is generally considered Sharia-compliant and staking in this context is seen as contributing to the network's security and efficiency rather than lending money for interest, Mantle Staked Ether can be considered halal.