Issue Statement: Mantle Network is an optimistic Ethereum layer-2 (L2) solution with an EVM-compatible execution environment. Mantle is DAO-governed and employs a modular approach to execution, consensus, settlement, and data availability.
Mantle has recently launched its Mantle Liquid Staking Protocol (LSP), a permissionless, non-custodial ETH liquid staking protocol deployed on Ethereum L1 and governed by Mantle. Mantle Staked Ether (mETH) serves as the value-accumulating receipt token.
mETH is currently the 5th biggest ETH liquid-staked token with over $754 million Total Value Locked (TVL) on Ethereum as of 18 January 2024.
The Mantle Core Contributor Team wishes to make the bridging of mETH more accessible to the broader community by enabling cross-chain transfers between Ethereum and Mantle.
Solution: Add mETH to Stargate for the following chains: -Ethereum -Mantle
Mantle will deposit a total of 10,000 mETH across Stargate’s mETH pools, and will continue to provide added liquidity in response to demand for bridging as authorized under MIP-25.
Success: mETH can be bridged and allow liquidity to seamlessly move between Ethereum and Mantle.
Summary: -mETH is the value-accumulating receipt token of Mantle LSP, a permissionless, non-custodial ETH liquid staking protocol deployed on Ethereum L1 and governed by Mantle. -mETH aims to become the most widely adopted and capital-efficient ETH staking token. Adoption priorities include Mantle L2 DeFi applications, Mantle L2 core technology partners, and centralized exchange partners. -The Mantle Core Contributor Team would like to integrate mETH onto Stargate to enable seamless cross-chain transfers of mETH between Ethereum and Mantle. -For more information on Mantle and mETH, please visit the respective docs here: https://docs.mantle.xyz/, https://docs.mantle.xyz/meth/introduction/overview