TVL concentration (top-10 wallet share)
mETH Protocol's assessment for RD-F-064 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Top-25 holders concentrate 96.4% of mETH total supply per Prisma Risk 2024 collateral assessment. Additionally 35.7% of mETH supply is restaked into EigenLayer and 20% deposited on Mantle L2, creating layered concentration. Total holder count is 10,687 per Etherscan. The top-10 specific share is not independently verified but is directionally consistent with a highly concentrated distribution (96.4% in top-25 implies likely 80-90%+ in top-10). Scored yellow: concentration is high but characteristic of an institutional-grade LST in growth phase; not catastrophically concentrated in a single address.
Sources #
- URLCollateral Risk Assessment — Mantle ETH (mETH) — Prisma RiskPrisma Risk mETH collateral assessment — top-25 holders = 96.4% of supply; 35.7% restaked EigenLayer; 20% on Mantle L2retrieved 2026-05-16
- mETH Token — EtherscanmETH token (0xd5f7838f5c461feff7fe49ea5ebaf7728bb0adfa) — 10,687 holders; total supply 220,169 mETHretrieved 2026-05-16
Methodology #
Compute the percentage of protocol TVL held in the top-10 depositor addresses.
See the full factor methodology and distribution across all protocols →