$COOK is the governance token of mETH Protocol, one of the largest liquid staking and restaking protocols in the Ethereum ecosystem.

With its TGE set to happen soon, our team is proud to reveal more details about $COOK.

$COOK: Governance Token of mETH Protocol

Formerly known as Mantle LSP, mETH Protocol is a permissionless, non-custodial ETH liquid staking protocol deployed on Ethereum (L1) and governed by Mantle (L2).

The liquid staking token, $mETH, incubated under mETH Protocol, has grown to become the 4th largest ETH LST in less than a year, achieving a peak TVL of $2.19 billion. With the upcoming launch of the liquid restaking token $cmETH, the team aims to capture even greater market share by expanding into the growing restaking sector.

As we approach the next phase of growth, $COOK will enable holders to play a pivotal role in guiding the strategic direction of mETH Protocol and influencing its decision-making processes, thereby empowering them.

Token Distribution

There will be a total supply of 5 billion $COOK tokens at genesis, split across three categories.

1. mETH Protocol Community — 60%

The community forms the core of our ecosystem. This category is dedicated to growth initiatives, including but not limited to, TVL campaigns like Season 1: Methamorphosis, protocol collaborations, and additional user rewards.

Approximately 11.12% will be initially allocated to initiatives related to Season 1: Methamorphosis:

• mETH Protocol — 250,000,000 (5%)
• Journey to Methamorphosis Quests — (0.01997%)
• Stash Campaign — 1,800,000 (0.036%)
• Puff — 250,000,000 (5%)
• Puff NFT — 50,000,000 (1%)
• Bybit New Users Campaign — 100,000 (0.002%)
• Bybit Web3 Wallet Campaign — 740,000 (0.0148%)
• Binance Web3 Wallet Campaign — 2,500,000 (0.05%) *May be subject to change. *Figures above are rounded to the nearest integer.

Please note that $COOK allocations will be distributed to the Puff team fully vested; the release of rewards will follow their official schedule. For all Bybit and Binance campaigns, rewards will be similarly released according to each platform's schedule. Please follow their channels for further updates.

Additionally, up to 160,000,000 $COOK (3.2%) will be dedicated to other growth initiatives aimed at general marketing activities.

2. Mantle Treasury — 30%

The Mantle Treasury category will be used to promote the development and adoption of mETH Protocol assets within Mantle Network. An initial 4% will be distributed to eligible users who have locked $MNT on Mantle Rewards Station and allocated MNT Power (MP) to the Season 1: Methamorphosis $COOK pool.

3. Core Contributor Team — 10%

This allocation is designated for members who have been instrumental in developing the mETH Protocol from its inception and will continue to support future developments. Tokens distributed in this category will be subject to a lock-up period.

Note: There may be $COOK loans to service providers to facilitate exchange liquidity. Such are not included in the above as they are loans and will look to mETH Protocol Treasury in the future.

Vesting Schedule

The unlock schedule by category is described in the graphic above.

$COOK's 5 billion supply at genesis will be subject to different unlock schedules. At TGE, the circulating supply will be approximately 916,000,000 $COOK.

Circulating supply is defined as the amount of $COOK tokens in general circulation without on-chain transfer restrictions.

What to Expect

Information for the sections below will be released shortly:

• TGE details, CEX listings, and on-chain liquidity
• A blog post outlining the $COOK claim process

mETH Protocol will have access to resources such as Mantle's ecosystem partners. As such, users can expect $COOK to be integrated across native protocols in the future, spanning a wide variety of DeFi functions like liquidity pooling, collateral, and more.

Stay tuned for further updates by following our X (previously known as Twitter) account here!