Bybit Unveils cmETH Alongside Exclusive Bonus Rewards, Enhancing Ethereum Staking Opportunities

Cryptocurrency exchange Bybit In conjunction with the introduction of cmETH, Bybit is enhancing the staking landscape for Ethereum by offering a unique promotion that lets users earn an additional 6% APR on their ETH holdings for a short time when they mint and retain cmETH via its On-Chain Earn feature.

According to Joan Han, the Sales and Marketing Director at Bybit, 'cmETH is a game-changing addition to our Ethereum staking options.' He elaborated, 'By embracing this innovative token, we empower our users to achieve higher rewards while still having access to their funds. Our aim is to create straightforward, adaptable, and lucrative opportunities.'

cmETH is a Liquid Restaking Token (LRT) that's been developed by Bybit as part of its mETH Protocol. It’s crafted to optimize efficiency and boost earnings by enabling users to accrue additional yields on top of Ethereum's native Proof-of-Stake rewards. Mantle Network A standout feature of cmETH is that users can earn a supplementary 6% APR through Bybit On-Chain Earn by minting and holding cmETH during the promotion, making this one of the most attractive deals currently available. Additionally, with an impressive 80% Collateral Value Ratio (CVR), cmETH holders can leverage their staked assets for liquidity while continuing to reap rewards. Plus, Bybit Convert simplifies the process of exchanging ETH, stETH, mETH, and cmETH without fees, creating a swift and adaptable approach for users to manage their investments effectively.

cmETH: Easy Staking with Daily Rewards

Minting cmETH is a breeze thanks to a user-friendly one-click option, and users can expect daily reward deposits into their Funding Accounts, which simplifies the staking experience substantially. The qualification for the attractive 6% bonus APR is based on hourly observations of cmETH balances, with an overall maximum cap set at 50,000 cmETH. Users see their rewards credited to their accounts daily, ensuring prompt and clear payouts.

Bybit The rollout of cmETH reinforces Bybit's commitment to making decentralized finance (DeFi) more accessible and empowering its users. This advancement not only amps up reward potential but also increases flexibility, underlining Bybit’s dedication to enhancing the overall user experience.

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