Mantle Network, the Ethereum-centric developer entity and decentralized autonomous organization (DAO), has launched Mantle LSP – a liquid staking facility on Ethereum.
The non-custodial staking protocol will enable users to participate in Ethereum staking through its node operators. Mantle LSP will reward mETH to users who stake ETH, which will be used in Mantle’s Layer 2 DeFi ecosystem.
In June 2024, the Mantle team posted a governance proposal that introduced the idea of ETH staking via Mantle’s native liquid staking protocol. The proposal received positive feedback from the community, and it was passed to build and launch Mantle LSP.
“Mantle LSD aims to provide a simple and secure architecture that strategically benefits the Mantle Ecosystem, and is a product primitive that third party applications can adopt and extend permissionlessly,” the team said in the proposal.
The new liquid staking facility will be governed by Mantle DAO. It is the second largest core product in the Mantle ecosystem after Mantle Network – the native layer 2 network.
Mantle DAO has one of the largest community treasuries in the decentralized finance (DeFi) space after it merged with BitDAO. It has staked 40,000 ETH on Lido which is generating a yield of nearly 4.1% APR since August 2023.
