Mantle mETH Added as Collateral Asset on Major Crypto Lending Platform Compound

Ethereum (ETH) Layer 2 Mantle (MNT) announced on the 10th that its liquidity staking token (LST) mETH has been added to the crypto lending platform Compound (COMP).

This integration is the result of a Compound community vote. On the 8th, Compound token holders voted on the proposal to add mETH and Etna (ENA)'s stablecoin (a cryptocurrency pegged to fiat currency value) USDe as collateral assets on Compound, and the vote resulted in both cryptocurrencies being successfully added as collateral assets on Compound.

As of today, the total value locked (TVL) in Compound's lending platform amounts to approximately $2.7 billion, ranking it as the 15th largest among all DeFi platforms.

Additionally, Mantle announced that discussions are underway regarding a strategic partnership with Compound. Through this partnership, the two companies are expected to introduce and integrate the restaking token (LRT) cmETH.

Mantle commented on this outcome, stating, "This demonstrates Mantle's commitment to strengthening its asset ecosystem and expanding into decentralized finance (DeFi). This integration will further enhance the DeFi utility of mETH."