Convert Mantle Restaked Ether CMETH to Penpie PNP

Deployed on Ethereum layer 1 (L1) and governed by Mantle, mETH Protocol has, since late 2023, been providing users with access to $mETH, a value-accumulating receipt token that is highly composable across a range of DeFi applications on Mantle Network L2, offering exposure to additional yield-bearing opportunities. Users stake ETH with mETH Protocol and receive yield-bearing $mETH, and unstake $mETH to receive the underlying principal staked ETH and accumulated rewards. Since the inception of mETH Protocol, Mantle's mission has been to deliver the most user-friendly and rewarding $mETH experience. Thanks to ecosystem-wide adoption, $mETH users are able to trade on Mantle DEXs, earn yield by providing liquidity to $mETH liquidity pools, and generate yield within decentralized money markets. With $mETH's increasing adoption and composability within Mantle Ecosystem dApps, the protocol now ranks as the fourth largest ETH LSP by TVL. The introduction of $cmETH, a permissionless, composable liquid restaking token that unlocks restaking opportunities on Mantle, and $COOK, the protocol's upcoming governance token, mETH Protocol enters its next phase with further enhanced offerings. Through these features, mETH Protocol provides its users with capital efficiency, convenience, and a wide range of yield-bearing opportunities within Mantle Ecosystem dApps, all in a design that has been created to maximize security with non-custodial core smart contracts and off-chain services that enforce sanity bounds and risk limits.

What is the project about? Penpie is a next-generation DeFi platform built by Magpie to provide Pendle Finance users with yield and veTokenomics boosting services. Integrated with Pendle Finance, Penpie focuses on locking PENDLE tokens to obtain governance rights and enhanced yield benefits within Pendle Finance. Penpie revolutionizes the way users can maximize returns on their investments and monetize their governance power. What makes your project unique? Penpie gives PENDLE holders the chance to earn high APR by converting their tokens into mPENDLE. By leveraging the power of Pendle Finance's veTokenomics model, Penpie offers users the opportunity to earn more PENDLE rewards with their PENDLE tokens. Penpie has created mPENDLE, a Penpie version of the PENDLE token, which allows users to earn a large share of PENDLE rewards while enjoying increased flexibility through Penpie. This mechanism gives PENDLE holders the chance to earn high APR% by converting their tokens into mPENDLE at a 1:1 ratio. What can your token be used for? PNP is the governance and revenue-sharing token of Penpie. Users can lock their PNP tokens on Penpie to receive vlPNP at a 1:1 ratio. vlPNP is the locked version of the PNP token.