- Minting cmETH during the offer will earn you an additional 6% APR on ETH.
- Use cmETH as collateral for liquidity while keeping the staking rewards.
Global crypto exchange Bybit yesterday launched the highly-anticipated cmETH on its platform, further popularizing Ethereum staking with appealing incentives and flexibility. Through the introduction of cmETH, Bybit leads in staking innovation, providing users with a seamless mechanism for maximizing returns on their ETH.
Launch Special Offer: In support of the launch, Bybit is giving a bonus of 6% APR on its On-Chain Earn service for those who mint and hold cmETH. The new LRT Liquid Restaking Token is an innovative offering developed by Mantle Network through the mETH Protocol.
Bybit Expands Ethereum Staking Opportunities with cmETH
cmETH is offering the most pioneering opportunity for the Ethereum staker. The protocol allows restaking yield stacking on top of native Ethereum Proof-of-Stake rewards with maximum efficiency, reaping profitable returns.
For liquidity support, cmETH holders can use their staked assets with a CVR of 80%. This allows users to access liquidity without necessarily forgoing their staking rewards. Additionally, Bybit Convert provides a fee-free method of swapping between ETH, stETH, mETH, and cmETH for easy asset management.
According to Joan Han, Sales and Marketing Director at Bybit, “cmETH is a game-changer for Ethereum staking Our integration offers users higher rewards and unparalleled flexibility in line with our mission of making crypto finance easier.”.
Minting of cmETH is very easy and can be processed with a single click on the Bybit exchange. The daily reward automatically gets added to the user’s Funding Account. An hourly balance snapshot determines eligibility for the 6% bonus APR, but there is a cap of 50,000 cmETH in total rewards.
The strategy speaks to how Bybit enhances decentralized finance for users by opening up accessible flexible staking. cmETH therefore competes with incentive-based offerings but ensures that Ethereum staking stands above the rest on the grounds of user experience.
Bybit now opens avenues for cmETH, strengthening the company’s positioning in the ecosystem while offering value to users and helping them obtain more value for their Ethereum.
