DUBAI, UAE, Jan. 27, 2025 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, has introduced cmETH to its platform, unlocking a new era of Ethereum staking opportunities. To celebrate this launch, Bybit is offering users an additional 6% APR on their ETH holdings for a limited time when minting and holding cmETH through its On-Chain Earn service.
What Is cmETH?
cmETH is a Liquid Restaking Token (LRT) introduced by Mantle Network through the mETH Protocol. Designed to maximize efficiency and rewards, cmETH allows users to stack additional restaking yields on top of Ethereum's native Proof-of-Stake rewards.
Key Features of cmETH on Bybit
- Extra 6% APR for Staking Through Bybit On-Chain Earn, users can enjoy a bonus 6% APR when they mint and hold cmETH during the promotional period-one of the most competitive offerings in the market.
- Use cmETH as Collateral With an 80% Collateral Value Ratio (CVR), cmETH holders can leverage their staked assets for liquidity without sacrificing rewards.
- Effortless Conversions Bybit Convert enables fee-free swaps between ETH, stETH, mETH, and cmETH. This fast and flexible feature ensures users can manage their holdings with ease.
Joan Han, Sales and Marketing Director at Bybit, highlighted the importance of this milestone: "cmETH is a transformative addition for Ethereum staking. By integrating this innovative token, we're giving our users the tools to achieve greater rewards while maintaining access to their funds. It's about creating opportunities that are simple, flexible, and rewarding."
Simplified Staking, Daily Rewards
Bybit's seamless process lets users mint cmETH with just one click. Rewards are distributed daily to their Funding Accounts, making the entire staking experience straightforward and rewarding.
Hourly snapshots of cmETH balances determine eligibility for the 6% bonus APR, capped at a total of 50,000 cmETH. Rewards are credited daily to users' accounts, ensuring transparency and timely payouts.
The introduction of cmETH underscores Bybit's commitment to advancing DeFi accessibility and user empowerment. This launch offers not only better rewards but also greater flexibility, reflecting Bybit's dedication to simplifying crypto finance while delivering unparalleled value.
Bybit / TheCryptoArk
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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