Bybit Launches cmETH With Exclusive Bonus Rewards, Unlocking Advanced Ethereum Staking
In Brief
Bybit has added cmETH to its platform, expanding Ethereum staking opportunities for its users, and has announced an exclusive promotion allowing users to earn an additional 6% APR on their ETH holdings.
Cryptocurrency exchange Bybit announced the addition of cmETH to its platform, expanding Ethereum staking opportunities for its users. To mark this launch, Bybit is offering an exclusive promotion, allowing users to earn an additional 6% APR on their ETH holdings for a limited period when they mint and hold cmETH through its On-Chain Earn service.
“cmETH is a transformative addition for Ethereum staking,” said Joan Han, Sales and Marketing Director at Bybit, in a written statement. “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,” he added.
cmETH is a Liquid Restaking Token (LRT) developed by Mantle Network as part of its mETH Protocol. This token is designed to enhance efficiency and increase rewards by enabling users to earn additional restaking yields on top of Ethereum’s native Proof-of-Stake rewards.
One of the key features of cmETH is that, through Bybit On-Chain Earn, users can earn an additional 6% APR when minting and holding cmETH during the promotional period, making it one of the most competitive offers in the market. Furthermore, with an 80% Collateral Value Ratio (CVR), cmETH holders can use their staked assets for liquidity purposes while still benefiting from rewards. Additionally, Bybit Convert offers fee-free swaps between ETH, stETH, mETH, and cmETH, providing users with a quick and flexible way to manage their holdings efficiently.
cmETH: Simplified Staking With Daily Rewards
Bybit makes the process of minting cmETH effortless with a simple one-click option. Users receive their rewards daily in their Funding Accounts, streamlining the staking experience for ease and efficiency. Eligibility for the 6% bonus APR is determined by hourly snapshots of cmETH balances, with the bonus capped at a total of 50,000 cmETH. Rewards are credited daily to users’ accounts, ensuring timely and transparent payouts.
The launch of cmETH highlights Bybit’s focus on enhancing accessibility to decentralized finance (DeFi) and empowering users. This development not only offers enhanced rewards but also provides greater flexibility, demonstrating Bybit’s commitment to simplifying the cryptocurrency finance process while delivering value to its users.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
