COOK Airdrop Guide: Mantle’s Metamorphosis Campaign

Cook is the Governance token for Mantle liquid staked mETH. Currently they are the 3rd largest platform liquid staking with over $1.3 Billion worth of Ethereum staked. This means there will be a huge potential for a large airdrop as the protocol is already popular with high revenue potential. The airdrop very clear on rewards (in the form of $POWDER) and easy to farm – and it especially favors those with large amounts Ethereum staked.

If you’re an Ethereum or Mantle holder, there’s a massive airdrop opportunity on the horizon that you simply can’t miss. The Metamorphosis campaign is set to offer incredible APYs and lucrative airdrops from the $COOK tokens. Designed specifically for the crypto community, this guide will navigate you through the two main strategies you need to adopt to maximize your benefits from this campaign. Both strategies are already live, so let’s dive right in.

The Metamorphosis campaign will airdrop $COOK tokens to $MNT and $mETH (Mantle Staked Ether) holders and stakers. The $COOK token itself will be the governance token for $mETH and future $cmETH (liquid restaking token and expansion of $mETH).

What is $COOK?

With the passage of MIP-30, $cmETH marks the next phase of our growth journey on Mantle LSP, representing a “meth”amorphosis from $mETH. $cmETH, a permissionless and composable Liquid Restaking Token, broadens access to restaking opportunities. $mETH holders who wish to participate in the risk-reward of restaking can choose to convert their $mETH to $cmETH when it becomes available (noting that they can convert back as well). $COOK was also introduced as the new governance token for Mantle LSP, empowering stakeholders to actively participate in decisions regarding development and strategic direction.

How do I claim $COOK rewards?

After users migrate to V2, they will be able to claim $COOK after TGE.

The primary goal of the Metamorphosis campaign is to earn the $COOK airdrop. There are two strategies to earn the airdrop, ranging from easy (simple staking) to complex (yield farming on L2 DApps). Here’s a step-by-step guide.

Strategy 1: Staking $MNT Tokens [Level: ☆☆☆★★]

$MNT is the native token of the Mantle network. This method is straightforward, especially if you have limited experience in DeFi.

1. Acquiring $MNT Tokens:
   • Withdraw $MNT tokens from platforms like Bybit directly into your MetaMask wallet.
   • Make sure to switch the network settings to Mantle Network.
     
2. Locking $MNT Tokens:
   • Go to Mantle Rewards Station
   • Choose a lock period based on your preference. You then have the option to either lock your tokens for a specified period or go for a flexible lock. Longer lock periods can yield higher rewards.
   • Confirm the lock, and you should see an increase in your Mantle Power (MP).
   • For example, locking 10,000 $MNT tokens can boost your Mantle Power (MP), which in turn increases your $COOK distribution.
     
3. Monitor Your Rewards:
   • Check your Layer 2 holdings and daily powder rewards.
   • Use the Housing Earn page to see additional campaigns that offer higher multipliers.

Strategy 2: Yield farming with $mETH Tokens [Level: ☆★★★★]

$mETH is a liquid staking token for Ethereum on Mantle. This is recommended to $ETH holders, as it allows you to double-stake and accumulate multiple types of rewards.

1. Convert $ETH to $mETH:
   • Switch your network to Ethereum.
   • Stake Ethereum to get METH tokens. You’ll notice a small discrepancy due to pre-included rewards.
     
2. Bridge $mETH to Mantle Network:
   • Use the bridge function to transfer $mETH from $ETH to Mantle Network. This incurs some fees, so plan accordingly.
     
3. Monitor Your Holdings:
   • Check your Layer 2 holdings and daily powder rewards.
   • Use the Housing Earn page to see additional campaigns that offer higher multipliers.
   • The earlier you get into the campaign, the more benefits you can accumulate over time. If you’re looking to maximize your “powder” rewards, pay attention to campaigns with higher multipliers but weigh the risks of impermanent loss.

Conclusion

The Metamorphosis campaign offers an exciting opportunity for crypto enthusiasts to earn significant rewards through strategic staking and locking of tokens. Stay tuned for more updates and detailed guides to ensure you don’t miss out on any part of this lucrative airdrop event.

See the latest tutorial: Lock $MNT on Mantle & Collect Your Share of 200 Million $COOK