You asked, and we delivered. Start COOK'in $mETH on Pendle and accrue 25x Powder/Day per $mETH plus EigenLayer Points when you hold LP mETH and/or YT mETH!

Whether you want to provide liquidity to earn additional yield and PENDLE incentives, or go full degen mode by leveraging your points exposure by obtaining YT mETH, the choice is entirely yours. There are plenty of opportunities for you to take advantage of, and here's how:

To get started, head over to Pendle's $mETH Points Market and choose your desired path.

(1) LP mETH on Pendle for Powder and More

Earn Powder, $mETH yields, $PENDLE incentives, and swap fees by providing liquidity into Pendle's $mETH pool — all without the risk of impermanent loss.

Step 1

• Navigate to the $mETH Pool on Pendle.
• Connect your wallet.

Step 2

• Enter the amount of $mETH you wish to provide as liquidity.
• Check the associated fees and amount of LP mETH and YT mETH you'll receive.
• Select "Approve mETH" and confirm the spending cap request.

Step 3

• Once approved, users must finalize the process by selecting the "Zap In" button and paying associated gas fees.

Please note that all gas fees mentioned in this guide are paid in $MNT tokens, so make sure you have a sufficient $MNT balance in your wallet.

Get $MNT

It's as easy as that. Once you've completed those steps, you'll be on your way to accumulating Powder and other rewards!

Users can unlock their liquidity at any time by following these steps:

• Select the “Zap Out” tab.
• Enter the amount of liquidity you wish to remove.
• Approve the withdrawal amount and select "Zap Out."

(2) Swap Into YT mETH to Leverage Your Points Exposure

For those with a higher risk appetite, YT mETH is an ideal vehicle to leverage your Powder exposure, as it essentially allows users to long their yield. Follow these steps to get your YT mETH now.

Step 1

• Navigate to the YT mETH market.
• Connect your wallet.

Step 2

• Select your chosen input asset and the amount you want to swap.
• Confirm the amount of YT mETH you'll receive and the fees associated with the transaction.
• Select "Approve mETH" and Confirm the spending cap request.

Step 3

• Once approved, users must finalize the swap by selecting the "Swap" button and paying associated gas fees.

After this, you're all set! Do note that YT mETH will have 0 value at maturity. You can exit anytime at the market price while retaining all Powder earned until then.

Swapping out of YT mETH is just as simple as swapping into it.

Step 1

• Select the "Sell YT" tab.
• Enter the amount of YT mETH you want to swap out of.
• Confirm the output asset you wish to swap into.
• Click "Approve YT mETH" and Confirm the spending cap request.

Step 2

• To complete the swap out of YT mETH, click "Swap" and pay the associated gas fees.

That’s a wrap for the Pendle Season 1: Methamorphosis guide. For more details, please refer to the Pendle Docs for a more comprehensive overview on their mechanics.

Choose your path and start earning Powder now! Keep up to date with the latest Season 1: Methamorphosis initiatives by keeping a close eye on Mantle’s X/Twitter and Blog!