Bybit has introduced cmETH, a new liquid restaking token to improve Ethereum staking opportunities.
To celebrate its launch, Bybit offers a limited-time 6% APR bonus for users who mint and hold cmETH via its On-Chain Earn service.
The cmETH, developed by Mantle Network with the mETH Protocol, enables users to earn extra rewards alongside Ethereum’s Proof-of-Stake yields. Bybit incorporates this token to help users enhance their returns on Ethereum investments.
Key features of cmETH on Bybit include the 6% APR bonus during the promotional period, an 80% collateral value ratio that enables liquidity leverage without sacrificing staking rewards, and zero fees for swapping between ETH, stETH, mETH, and cmETH using Bybit Convert. They also made staking easier by allowing users to mint cmETH with a single click, and rewards are credited daily to their Funding Accounts. Eligibility for the 6% bonus APR based on hourly snapshots of cmETH balances, capped at 50,000 cmETH.
Joan Han, Bybit’s Sales and Marketing Director, emphasized that cmETH represents a significant step forward in Ethereum staking by providing users greater flexibility and higher rewards.
“cmETH is a transformative addition for Ethereum staking. By integrating this innovative token, we’re giving our users the tools to achieve greater rewards while maintaining access to their funds,”
he noted. This launch reflects Bybit’s ongoing efforts to improve DeFi accessibility and deliver innovative financial solutions for its users.
This news follows Bybit’s recent partnership with Entravel, a crypto-native hotel booking platform. Bybit users now get free membership, which includes access to luxury hotel discounts and the ability to pay with digital assets. Bybit Cardholders can also earn up to 6% additional cashback on bookings. Entravel offers over one million hotels worldwide, with savings of 60% to 70% off regular rates. Available to Bybit’s global community (excluding the EU), this collaboration further strengthens Bybit’s goal to integrate cryptocurrency into everyday life and enhance travel experiences.
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