24h Change-3.63%
All Time HighAug 24, 2025$5,313
All Time LowApr 9, 2025$1,486
Market Cap$409.12m
Fully Diluted Valuation$409.12m
Circ. Supply209,747 METH
CEX Volume$77,543
DEX Volume$2.08m
How much debt can be issued against METH as collateral across lending protocols.
Maximum possible exposure to METH
$56.37m
$56.37m (max additional borrows against METH) + $441.61 (bad debt if METH was hacked now)
Compound V3
$56.37m at-risk exposure = $408.68 bad debt if hacked + $56.37m additional borrowable against METH
Fluid
$32.93 at-risk exposure = $32.93 bad debt if hacked + $0 additional borrowable against METH
Showing collateral exposure for METH on Ethereum. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for METH as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
mETH0xd5f7838f5c461feff7fe49ea5ebaf7728bb0adfa | $56.37m | $408.68 | ||
mETH0xd5f7838f5c461feff7fe49ea5ebaf7728bb0adfa | $0 | $32.93 |
Risk-management actions published about METH by tracked risk managers and governance contributors, newest first.
mETH shows strong 51% utilization in Mantle USDe Comet, indicating active demand, but the cap is being resized ~30% above current supply to align headroom with usage and mitigate excess exposure to DeFi exploit risks.
mETH has low 0.27% utilization in USDT Comet, below demand threshold. Capping at 0 reduces unnecessary exposure to LST-specific risks like depegs amid increased attack frequency.
The mETH market has shown low user demand with average supply cap utilization of 0.06% over the past 30 days, leading to a recommendation to halve the supply cap and reduce protocol risk exposure.
mETH in the USDT Comet has averaged 5% supply cap utilization over the last 30 days, reflecting minimal demand. The cap reduction aims to limit unnecessary risk to the protocol.
mETH price feed is upgraded to Chainlink SVR for better oracle integrity and CAPO to track its direct relation to ETH with yield accumulation, reducing risks from price deviations.
Demand for the mETH vault has been extremely weak, contributing just $0.36 in TVL while disproportionately exposing Euler to market risks as Prime has matured.
Onboarding of mETH as collateral advised against on Aave v3 Mantle due to low liquidity, heightening risks of insufficient depth for liquidations.
mETH liquidity is extremely shallow, with a 200 mETH swap causing over 5% price impact and most depth in a single Merchant Moe pool; governance via the opaque COOK token lacks clear processes, and the 6-of-13 multisig has no timelock on critical functions like upgrades and pauses.
mETH, Mantle Staked ETH, is a key liquid staking token in the Mantle ecosystem and is proposed as collateral to allow users to borrow familiar assets, supporting DeFi flows and tapping into APAC user growth from Mantle and Bybit.
Large borrowers are requesting more looping opportunities for LSTs like mETH against WETH on Euler Prime, a key driver of sticky TVL on competing protocols like Aave's E-mode. Raising LTV and LLTV aligns parameters to attract this activity without excessive risk.
An is required to view token usage.
Tracking 8 pools, average APY 2.22%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabMETH | $419.69m | 3.59% | 3.59% | 2.12% | |||||
| open in new tabMETH | $2.76m | 0% | 0% | 0% | |||||
| open in new tabMETH-CMETH0.01% | $2.16m | 0.08% | 0.08% | 0.07% | |||||
| open in new tabWETH-METH0.05% | $1.24m | 4.53% | 4.53% | 0.51% | |||||
| open in new tabMETHfrozen | $224,729 | 0.34% | 0.31% | 0.03% | 0.34% | ||||
| open in new tabMETHLendle | 🪂 | $44,248 | 2.56% | 2.22% | |||||
| open in new tabMETHSuperchargerV2 | $41,789 | 0% | 0% | 0% | |||||
| open in new tabMETHUSDT-pool | $10,884 | 0% | 0% |
Showing 10 of 144 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabMETH âžž WBTC | $291.34m | 0.34% | 0.34% | 0% | 82.5% | $266,860 | $42,131 | ||
| open in new tabMETH âžž WBTC | $109.65m | 0.34% | 0.34% | 0% | 82.5% | $266,860 | $42,131 | ||
| open in new tabMETH âžž WETH | $100.45m | 0.34% | 0.34% | 0% | 82.5% | $266,860 | $42,131 | ||
| open in new tabMETH âžž WETH | $56.86m | 0.34% | 0.34% | 0% | 82.5% | $266,860 | $42,131 | ||
| open in new tabMETH âžž WSTETH | $54.05m | 0.34% | 0.34% | 0% | 82.5% | $266,860 | $42,131 | ||
| open in new tabMETH âžž WSTETH | $51.18m | 0.34% | 0.34% | 0% | 82.5% | $266,860 | $42,131 | ||
| open in new tabMETH âžž WSTETH | $43.52m | 0.34% | 0.34% | 0% | 82.5% | $266,860 | $42,131 | ||
| open in new tabMETH âžž SFRAX | $37.4m | 0.34% | 0.34% | 0% | 82.5% | $266,860 | $42,131 | ||
| open in new tabMETH âžž WEETH | $24.08m | 0.34% | 0.34% | 0% | 82.5% | $266,860 | $42,131 | ||
| open in new tabMETH âžž RSETH | $19.38m | 0.34% | 0.34% | 0% | 82.5% | $266,860 | $42,131 |
