Since launching Season 1: Methamorphosis and the new Mantle Rewards Station pool for $COOK tokens, we have witnessed a significant upsurge in community engagement and sentiment. Notably, we've achieved a milestone of over 500K $ETH staked on Mantle LSP!

Today, we are thrilled to share the first-ever logo reveal and more details about the upcoming $COOK tokenomics, starting with the Season 1 $COOK campaign rewards allocation. $COOK will be issued as an ERC-20 token. At the Token Generation Event (TGE), a total of 5 billion tokens will be created. 15% of these tokens will be initially distributed among four ecosystem initiatives, including Season 1: Methamorphosis.

Season 1 Allocation

Here is the breakdown of the $COOK rewards allocation for ongoing campaigns in Season 1:

1. Season 1: Methamorphosis — 5% (250,000,000 tokens)
2. Mantle Rewards Station — 4% (200,000,000 tokens)
3. Puff— 5% (250,000,000 tokens)
4. Puff NFT — 1% (50,000,000 tokens)

Vesting Schedule

The TGE is estimated to occur at the end of Season 1: Methamorphosis, in mid-October. Discussions regarding token deployment and exchange listings are ongoing, and updates will be announced across our social channels.

Please note that, with the exception of Puff NFT holders who will begin linear vesting from the TGE, the remaining supply allocated for each tranche in Season 1 is subject to its own cliff following the TGE.

100% of the $COOK tokens distributed in this portion will be unlocked within 12 months after the TGE.

What's Next?

With the passage of MIP-30, $COOK was introduced as the new token for Mantle LSP — allowing stakeholders to participate in the project's future governance and economics. This introduction came alongside the unveiling of the upcoming liquid-restaking-token, $cmETH, as part of Season 1: Methamorphosis.

Users can soon expect the launch of $cmETH, which will allow them to restake their $mETH and receive $cmETH as a receipt token. This enables users to enjoy a variety of yields, including:

1. Yield from ETH Proof-of-Stake validation (provided via the underlying $mETH)
2. Yield from restaking protocols (e.g., EigenLayer, Symbiotic, Karak, etc.)
3. Yield from Actively Validated Services (AVS)
4. $COOK rewards (multiple seasons)
5. Other technology partner rewards
6. Yields from L2 dApps and protocol integrations

Get ready to get COOK-in and embark on your journey with Mantle LSP today! If you have any questions, please feel free to join our Mantle Discord. Our team will be happy to answer your queries.