Mantle, a layer 2 network, has delegated 40,000 ether (ETH) to Lido, a staking protocol, after its community voted on how to manage its treasury earlier this month.
The delegated ether (stETH) is valued at about $66 million and will earn a 4.1% APR interest at the current rate.
Mantle’s treasury is worth more than $3.2 billion, with most of it in its own governance token (MNT), bitDAO (BIT) and stablecoins.
The community members now have the power to decide how to use Mantle’s treasury after the recent vote.
The maximum amount of ether that can be staked is 200,000, and Lido has received 20% of that.
