Convert Mantle Restaked Ether CMETH to Rai Reflex Index RAI

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.

Please note: Whilst this token may be described as a ‘stable’ asset its value is not designed to be pegged to any fiat currency (e.g. Pounds Sterling or US dollars) and its price may therefore fluctuate. This token relies on complex algorithmic arrangements and is collateralised by Ether (ETH), meaning its value could decline or become volatile. Please visit https://www.coinbase.com/asset-risks for more information on asset risks. RAI is an Ethereum token. The RAI-USD exchange rate is determined by supply and demand while the protocol that issues RAI tries to stabilize its price by constantly de- or re-valuing it. The supply and demand mechanic plays out between two parties: SAFE users (those who generate RAI with their ETH) and RAI holders (those who hold, speculate on or use RAI in other protocols and apps).