mETH ProtocolMicro-cap

mETH Protocol receives a B- risk grade (32/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — proven LST model with strong institutional backing, balanced against Mantle ecosystem concentration and novel cross-chain restaking risk. mETH Protocol is Mantle's institutional-grade ETH liquid staking platform, allowing users to stake ETH and receive mETH, a reward-bearing LST. With $579M TVL, the protocol also offers cmETH for cross-chain restaking across Mantle, Ethereum, and HyperEVM. Its B grade reflects a proven LST model with strong documentation and audits, tempered by ecosystem concentration risk and the novel cross-chain restaking extension.

The key risks identified for mETH Protocol are: (1) mETH is deeply integrated into the Mantle ecosystem, which means problems at Mantle could directly affect your staked ETH. The protocol is not fully independent from Mantle governance. (2) cmETH restaking exposes your ETH to additional slashing risk from AVS operator misbehavior. If an operator secured by cmETH is slashed, the value of your token decreases. (3) Instant redemptions through the Buffer Pool rely on Aave liquidity. During periods of high demand, you may need to wait in a queue to unstake your ETH.

mETH Protocol scores 32/100 across eight risk dimensions: Mechanism Novelty: 3/15, Interaction Severity: 5/20, Oracle Surface: 2/10, Documentation Gaps: 2/10, Track Record: 3/15, Scale Exposure: 7/10, Regulatory Risk: 4/10, Vitality Risk: 6/10. The highest risk area is Scale Exposure at 7/10.

Among 83 rated Liquid Staking protocols on Hindenrank, mETH Protocol ranks #46 by safety (lowest risk score = safest). Its 32/100 risk score and B- grade place it in the middle tier of Liquid Staking protocols.

mETH Protocol scores 3/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.