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mETH Protocol to Wind Down cmETH as It Refocuses on Core Development

According to mETH Protocol, cmETH minting has stopped after the token reached about $620 million in TVL, while redemptions, bridging, and reward claims will remain available for months.

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Summary

mETH Protocol said it will gradually shut down cmETH, its liquid staking token, after the asset reached about $620 million in total value locked. New minting has already stopped, but existing holders can still redeem and bridge their positions. The protocol said final EigenLayer rewards are expected by mid-June 2026, and the claim window will remain open until Nov. 7, 2026.

Terms & Concepts
  • Liquid staking token: A token that represents staked assets and can usually be traded or used while the underlying assets continue earning rewards.
  • Total value locked (TVL): The amount of assets deposited in a protocol, commonly used to measure its scale and usage.
  • EigenLayer: A restaking protocol that lets Ethereum stakers reuse staked assets to help secure other services for additional rewards.