Mantle LSP Sees $100 Million TVL Surge in 24 Hours
The deployment of Mantle Liquid Staking Protocol’s (LSP) has resulted in a significant increase in Total Value Locked (TVL), reaching almost $100 million within just one day. This protocol offers native yield for Ethereum (ETH) and stablecoins.
In the liquid staking sector, Lido has been the dominant player with a TVL of $20 billion. However, new projects are now emerging to challenge Lido’s dominance, including Mantle LSP.
Mantle LSP Aims for 4% APY Native Yield
Mantle, an Ethereum Layer 2 solution, recently announced the deployment of its permissionless and non-custodial Liquid Staking Protocol, Mantle LSP. This protocol promises a native yield of 4% APY through Ethereum’s proof-of-stake participation.
Similar to Lido’s stETH, Mantle LSP introduces mETH as a “value-accumulating receipt token.” Within 24 hours of its deployment, Mantle LSP has already reached a TVL of nearly $100 million.
New Protocols Offering Native Yields
Alongside Mantle LSP, several other protocols have emerged that offer native yields. For example, Blast is a Layer 2 protocol introduced by Pacman, the founder of Blur. Blast provides native yields for ETH and stablecoins and has quickly gained attention from the community with a TVL exceeding $700 million.
Hot Take: The Rise of Liquid Staking Protocols
The deployment of Mantle LSP and the emergence of other liquid staking protocols demonstrate the growing popularity and demand for native yield solutions in the crypto space. These protocols aim to challenge the dominance of established players like Lido and offer alternative options for investors looking to participate in proof-of-stake networks while earning rewards. As the TVL numbers continue to rise, it will be interesting to see how these projects compete and innovate in the liquid staking sector.
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