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.
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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.”
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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.
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Source – PR Newswire
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