Both $COOK TGE and claims are set to take place on Oct. 29, 2024. We’re thrilled to announce that Season 2: Methamorphosis, along with $cmETH, the liquid restaking token, will officially launch the following day, on Oct. 30, 2024.

The first ever season of Methamorphosis began on July 1, 2024, allowing the community to secure their initial share of $COOK, mETH Protocol's governance token. This season also set the stage for the launch of $cmETH. By the season's close, the Total Value Locked for the liquid staking token, $mETH, had increased by 12.5% to $1.21 billion, with Mantle Rewards Station reporting a 125% increase in $MNT locked, totaling over 148 million.

Season 2: Methamorphosis aims to continue this growth trajectory, focusing on the integration and adoption of $cmETH. As product and interface development progresses, more information is provided below.

Primer

$cmETH marks the next growth phase of $mETH, allowing users to capture the future of restaking, on top of the widespread adoption and composability of $mETH.

$cmETH will enable Mantle to offer users seamless access to multiple restaking opportunities, while still enjoying the underlying Ethereum Proof-of-Stake yields, future L2 integrations, $COOK rewards, and more, simply by restaking their $mETH for $cmETH.

Season 2: Methamorphosis

• Similar to Season 1, Season 2 will allow users to accrue Powder rewards that will be convertible to $COOK in the future.
• Dashboards will allow users to track how much Powder they have received, but the total $COOK allocation disbursed during this campaign season, and transferability of $COOK will be revealed at a later date.
• Season 2 will start on Oct. 30, 2024, and last for 110 days. While $cmETH holdings will be a core focus for Season 2, both mETH and $cmETH holdings will be incentivized with Powder at the beginning to provide users more time to switch from mETH to $cmETH without missing out on any initial rewards.
  • $mETH and $cmETH will be incentivized for 30 days.
  • Only $cmETH will be incentivized for the remaining 80 days.
• Different Powder accrual rates will apply to holdings held in wallets and within various qualified DeFi activities, only on Mantle L2. L1 protocols will not be incentivized in Season 2.
• Powder will be calculated via daily indexing.
• Application lists, Powder accrual rates, qualification factors, and disqualification factors may be updated from time to time.
• There will also be a referral program.
• All of the above are subject to change.