Liquidity depth per major asset
mETH Protocol's assessment for RD-F-065 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Secondary-market liquidity for mETH is thin and single-venue dependent. Uniswap v3 WETH/mETH pool holds approximately $15.6M TVL (Prisma Risk 2024 assessment); a $5.5M swap produces ~1% slippage. Only Bybit offers spot mETH/ETH and mETH/USDT pairs on CEX. Native protocol redemption requires 4-8 days via validator exit queue (standard path); LiquidityBuffer fast-path targets 24h but is capped at approximately 20% of TVL (~$107M at current TVL) and reverts to queue-based exit if exhausted. A documented secondary-market depeg event occurred March 2024 when the Double Dose Drive incentive program ended and exit-queue lengths rose — the mETH basis widened materially. No active depeg at assessment date; exchange rate ~1.09 ETH/mETH reflects accumulated rewards. Scored yellow: thin DEX liquidity creates redemption reliance on native protocol; fast-path capacity is finite.
Sources #
- URLCollateral Risk Assessment — Mantle ETH (mETH) — Prisma RiskPrisma Risk assessment — Uniswap v3 WETH/mETH pool ~$15.6M TVL; $5.5M swap = 1% slippage; single-venue DEX risk; March 2024 depeg event documentedretrieved 2026-05-16
- mETH Protocol Accelerates Fast Redemptions via Buffer Pool Enhancement — Chainwire 2025-12-15LiquidityBuffer upgrade — 20% TVL allocated to Aave ETH market; 24h target redemption; buffer reverts to queue-based exit when exhaustedretrieved 2026-05-16
- Mantle Staked Ether (mETH) — CoinGeckoCoinGecko mETH/ETH ratio ~1.09 ETH per mETH as of 2026-05-16; consistent with accumulated rewards since Dec 2023 launchretrieved 2026-05-16
- mETH Unstake Lifecycle — mETH Protocol DocsmETH unstake lifecycle — worst-case 7.5 days; average 3.75 days; Oracle update frequency 8h; minimum claim at 3600 blocks (12h)retrieved 2026-05-16
Methodology #
Measure on-chain liquidity depth for protocol-held assets at 2% and 5% price impact in USD.
See the full factor methodology and distribution across all protocols →