How to Restake and Delegate Mantle’s LST on EigenLayer: a Step-by-Step Guide

EigenLayer is a middleware protocol on Ethereum that introduced the concept of restaking, which enables delegators to use their staked ETH in multiple networks and protocols simultaneously. This put the project in the limelight, sparking much interest within the community.

EigenLayer enables users to restake Liquid Staking Tokens (LSTs) and staked ETH with operators for Actively Validated Services (AVSs). This means that they can get multiple rewards in addition to the rewards they get for staking their original ETH. 

Everstake unlocks restaking opportunities for a dozen LSTs on EigenLayer. Explore their platform to discover which LST might be the best fit for you, and leverage the dedicated how-to guides for each via this link.

This particular guide, however, covers mETH, Mantle’s liquid staking token.

What Is mETH?

Mantle’s LST is called mETH, which users receive in return for staking their ETH. It uses processing on Ethereum’s L1 without added complexities while prioritizing L2 DeFi applications and partners. 

This approach is in line with Mantle’s overall strategy of making its liquid staking token the most widely adopted and capital-efficient LST in the Ethereum ecosystem.

How to Restake Mantle’s mETH on EigenLayer

Restaking Mantle’s liquid staking token mETH on EigenLayer takes several steps, which we will cover next. 

• Obtain mETH as instructed by Mantle.
• Visit the EigenLayer app and connect your wallet. Currently, you can choose from MetaMask, Coinbase Wallet, OKX Wallet, and Wallet Connect. 

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• The interface will take you to the dashboard showing your restaked and delegated ETH or LSTs. Hit Restake Your Tokens to proceed.

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• Then you will see several options, including liquid staking tokens and native restaking of staked ETH.

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• Hit Mantle Staked Ether to get to the next screen, where you can deposit (restake)and unstake mETH. 

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• Specify the amount of mETH you wish to deposit, make sure everything is correct (including the address), hit Deposit, and then confirm and sign the transaction.

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• If everything is all right, there will be a message in the lower right corner indicating that your deposit is successful.

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• Now head over to the Dashboard to see your restaked mETH in the Restaked section.

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• Go to the Operator tab you can find in the screen’s header. There, you’ll see numerous options to choose from. In this example, we’ll delegate to Everstake. To do that, write “Everstake” in the search bar or go directly to our profile on EigenLayer.

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• Press Manage as shown in the screenshot above, and then hit Delegate in the right-hand section.

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• The only thing left to do is approve and sign the transaction in your wallet. Afterward, you’ll be able to control your stake from the Dashboard.

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Why Delegate to Everstake

Thanks to our impressive track record as a multi-chain validator, Everstake was among the first 30 operators hand-picked for EigenDA, the first AVS on EigenLayer, on the Goerli testnet. Everstake has had zero slashing events on Ethereum, developed the first non-custodial non-liquid pooling solution for Ethereum, and created numerous infrastructural services for other blockchains like Solana and Cosmos. 

Certified as a Verified Operator by StakingRewards, Everstake services over 735 thousand users across 70+ blockchains, offering industry-grade security, reliability, and support. By choosing Everstake, you can be assured that you’re getting access to top-notch services run by seasoned professionals, all for some of the best conditions on the crypto market today.

Final Remarks

Restaking and delegation usher new opportunities for regular users and crypto projects. Increased yields will be introduced in Q3 2024, likely attracting even more users to the protocol while enhancing security for the projects running AVSs.

Restaking is a relatively new concept, so more AVS will become available over time. The concept’s appeal to the community of stakers and developers is so high that it is likely that the selection will become much broader in no time, and Everstake will be happy to support the best of them. 

Why not restake your LSTs now?