2025 marked a turning point for mETH Protocol.
Though markets shifted, a universal belief nonetheless rooted itself in institutions, accelerating their capital into Ethereum, with ETFs from BlackRock, Bitwise and VanEck drawing sustained inflows cumulating over $13B.
As institutions move beyond exposure and toward deployment, mETH Protocol is focused on what the market now demands: functional, scalable, institution-ready solutions.
In 2025, we expanded across Mantle Network, Ethereum, and HyperEVM, while unlocking onboarding rails through partners such as Bybit, Kraken, Copper, Fireblocks, Anchorage, and OSL. Now, with our recent Buffer Pool Upgrade enabling efficient mETH to ETH redemptions, we're positioning ourselves in the new year as the on-demand access point for ETH yield.
Let's dive in.
mETH Protocol in 2025:
Over the year, mETH Protocol reached a peak TVL of $2.19B+, onboarded 76,712 unique addresses across all Methamorphosis seasons, and delivered 40+ integrations, including expansion into HyperEVM with 1,900%+ TVL growth.
Institutional credibility strengthened in April as mETH became the first liquid staking token to be included on a public company balance sheet via Republic Technologies. mETH continued to gain traction as a treasury asset, marked by its 1,000 ETH allocation from NounsDAO, and its inclusion in Mantle Treasury and Mantle Index Four.
This momentum continued with support from major custody providers including Copper, Fireblocks, Anchorage, and OSL. Such partnerships provide secure, institution-ready custody that meets traditional compliance standards. In return, this allows mETH to be used for off-exchange settlement, as collateral, and in regulated yield strategies.
Concurrently, market access expanded significantly through our spot and collateral listings on leading centralized exchanges like Bybit and Kraken, which facilitated new distribution channels and global userbases.
The trust of these platforms are a testament to mETH Protocol’s security and reliability, backed by leading infrastructure providers like Kraken Staked and P2P, with zero slashing incidents to date.
Strong Asset Growth
Asset weekly trading volume highs were also seen this year, marking a cumulative total upon this time of writing of:
- 46,988 mETH on Mantle Network
- 10,433 mETH on Ethereum
- 190,133 cmETH on Mantle Network
- 2,623 cmETH on Ethereum
- 1,318 cmETH on HyperEVM
Building on a 214% increase in cmETH supply in Season 2, Season 3 advanced ecosystem alignment and expanded cmETH cross-chain through integrations with Pendle, Ethena, and Morphobeat.
These integrations translated into strong cmETH TVL, reaching $329M+ on Mantle, $290M+ on Ethereum, and $9.5M+ on HyperEVM, positioning cmETH as the 4th largest LRT in the industry within its first year.
Our Bybit On-Chain Earn campaign from Q2 also saw cmETH holdings increase by 25.46% on the platform, jumping from ~65k to ~81k.
Events/Community
This year, we doubled down on events, education and community.
We co-hosted our first event at Token2049, featuring WLFi and Mantle as close partners, where over 650+ builders and founders joined us from all over the world.
In collaboration with established research firms like Messari, Four Pillars, and Memento, we published several articles focused on the institutional adoption of mETH and cmETH, strengthening credibility to a more technical audience. A total of 58 blogs were published this year, including 10 step-by-step guides walking through how to deposit cmETH with partner protocols.
On the community side, our Discord channels grew to over 6K+ members through multiple initiatives held with ecosystem partners like our Cooking Bad Campaign with NounsDAO, compiling 215+ art submissions. Our latest bounty board initiative spans long-form and short-form research, sticker pack curation and infographics, resulting in over 440+ engagements to date.
Our core team strengthened visibility through our livestreams, spanning over 30+ interviews and 10+ AMAs with core partners like Republic, Mantle, and Pendle.
Looking Ahead to 2026
With new installments like our buffer pool upgrade, cross-chain deployments, and future use cases, our focus is simple: to make mETH the most functional and sustainable LST in the market.
Rather than building niche or overly complex primitives, we're prioritizing real utility, enabling users and institutions access to Ethereum staking yield through simple, flexible, and low-friction workflows, while remaining composable across chains and platforms.
Scaling any successful business starts with the right foundation. Our partnerships with Tier-1 CEXs and infrastructure providers are built deliberately with this long-term alignment in mind.
Here's to building the most liquid source of institutional ETH yield.