Mantle has recently unveiled its liquid staking protocol (LSP) on the Ethereum mainnet. This move comes after their successful deployment of a Layer 2 network. Mantle’s protocol introduces a non-custodial system allowing users to stake Ethereum (ETH) through validator nodes. In return, participants receive Mantle-staked ether (mETH), representing their stake. This approach offers a fresh perspective on network staking, aiming to decentralize the process significantly.
Challenging Major Stakeholders
A vital aspect of Mantle’s strategy is to address the growing concentration of staked ETH in the hands of dominant providers such as Lido, Coinbase, and Binance. Mantle’s chief strategist, Jordi Alexander, highlights the issue stemming from a feedback loop driven by name recognition and user preference. Mantle counters this by promoting mETH in the Liquid Staking and DeFi (LSDfi) ecosystem.
The goal is to provide diverse options for users and improve capital efficiency to sustain yie
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