Mantle Liquid Staking Protocol (LSP), a new player in the Ethereum Layer 2 solutions space, has achieved a significant milestone, nearing a Total Value Locked (TVL) of $100 million within just 24 hours of deployment. Offering a 4% APY native yield for Ethereum (ETH) and stablecoins, Mantle LSP aims to challenge the dominance of Lido in the liquid staking sector. Lido, a central figure in the LSP market, currently holds a TVL of $20 billion. Mantle LSP's entry into this space, characterized by its mETH as a value-accumulating receipt token, signifies a notable shift in the liquid staking landscape. This development comes amidst a surge of new protocols like Blast, offering native yields and attracting significant attention and investments, evident by its $700 million TVL.
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