COOK mETH Protocol Rank #2127

mETH Protocol is a decentralized liquid staking protocol that operates on Ethereum's base layer while being governed under the Mantle ecosystem. Launched in late 2023, it allows users to stake ETH and receive mETH, a composable receipt token that represents both the staked principal and accumulated staking rewards. Holders can unstake mETH at any time to redeem the underlying ETH along with earned yield. The token is designed for broad interoperability across decentralized finance applications built on the Mantle Network, a layer-2 scaling solution. Within this ecosystem, mETH can be traded on decentralized exchanges, supplied to liquidity pools for additional returns, or used as collateral in lending markets. The protocol also introduced cmETH, a liquid restaking token that extends utility by enabling restaking opportunities on Mantle. COOK functions as the governance token of mETH Protocol, giving holders a say in decisions shaping the protocol's future direction and parameter adjustments. The broader system is built around non-custodial smart contracts paired with off-chain monitoring services that enforce risk parameters. Within the liquid staking landscape, mETH Protocol has established itself as a notable participant by total value locked.