On Monday, Mantle, the Ethereum layer-2 project linked to a $2.3 billion Treasury, announced the launch of Mantle LSP, a new liquid-staking protocol.As per a press statement, Mantle LSP was implemented on Ethereum and is set to become the second essential component of the Mantle ecosystem.According to L2 Beat, the primary Mantle Network, which debuted in July, presently has more over $220 million in deposits known as total value locked, or TVL.
Staking ETH on Mantle LSP for the first time allows users to obtain $mETH tokens, which are intended to be a representation of the ETH that has been staked.The press release also states that users will be able to earn yield using $mETH.
Jordi Alexander, chief alchemist at Mantle, said in an interview that Mantle’s treasury “has to be successful in its own right. We want it to be like, the third-largest eventually after Lido and Rocket Pool.”
“We’re targeting the No. 3 spot pretty aggressively and quickly,” Alexander added.