Mantle Announces Token Allocation for Methamorphosis Season 2 and Hints at Season 3
As Coin68 has reported, Methamorphosis is a reStaking program launched by the layer-2 Mantle and the mETH Protocol reStaking protocol.
After the conclusion of Season 1, Mantle launched the Methamorphosis Season 2 program starting from 30/11/2024 to 02/2025.
As the program nears its conclusion, Mantle has announced the token allocation for users in Season 2 as follows:
- Methamorphosis Season 2 will end on 16/02/2025;
- 4% of the total COOK token supply will be allocated to participants of Season 2;
4% of the total COOK token supply will be allocated to Season 2.
— mETH Protocol (@mETHProtocol) February 7, 2025
Eligibility criteria: Users who held eligible mETH and/or cmETH positions from Oct. 30 – Nov. 29, 2024, as well as those with eligible cmETH positions for the remainder of the campaign until Feb. 16, 2025. pic.twitter.com/TxpwG4XZrd
- No vesting, users can receive COOK at the beginning of March;
- Automatic reStaking rewards for protocols such as EigenLayer, Symbiotic, Karak, and Veda, but subject to the TGE timing of each project;
- Safe Wallet users must authorize a new EOA address to claim the cmETH reStaking rewards
- cmETH is the only LRT that can be reStaked simultaneously on EigenLayer, Symbiotic, Karak, and Veda.
The project also hinted that Season 3 is coming soon with even more incentives.
Comparing the ratio of TVL to ecosystem size, COOK is currently undervalued compared to other competitors:
- COOK (15 million USD) x TVL of mETH Protocol (1.4 billion USD)
- LDO (1.6 billion USD) x TVL of Lido (26.8 billion USD)
- ETHFI (251 million USD) x TVL of Ether.fi (7 billion USD)
- RPL (130 million USD) x TVL of Rocket Pool (2.15 billion USD)
The mETH Protocol plays an important role and is closely tied to the Mantle ecosystem, so it benefits from Mantle's resources. With actual profitability and expansion plans for the future, the project has significant growth potential with long-term utility.
Note: This is sponsored content, Coin68 does not directly endorse any information from the article above and does not guarantee the truthfulness of the article. Readers should conduct their own research before making decisions that affect themselves or their businesses and be prepared to take responsibility for their own choices. The article above should not be considered as investment advice.
