According to CoinDesk, Mantle, the Ethereum layer-2 project with a $2.3 billion treasury, announced the launch of its new liquid-staking protocol, Mantle LSP. The protocol has been deployed on Ethereum and is the second core product of the Mantle ecosystem. The main Mantle Network, which was launched in July, currently has over $220 million in deposits, known as total value locked (TVL), according to L2 Beat.
The introduction of Mantle LSP allows users to stake their ETH on the platform and receive $mETH tokens, which represent the staked ETH. With $mETH, users can also earn yield. Jordi Alexander, chief alchemist at Mantle, stated in an interview that the company aims for its treasury to be successful and eventually become the third-largest after Lido and Rocket Pool. Alexander added that they are targeting the No. 3 spot aggressively and quickly.