How to farm $COOK token – Mantle ecosystem
What is the $COOK token
The $COOK token is the future governance token for Mantle’s LRT token $mETH. Mantle eth is an LRT similar to EtherFi’s eeth implemented by Mantel. $mETH appreciates over time from staking and restaking rewards.
We will go through 4 easy ways to farm the $COOK airdrop.
Methamorphosis campaign
The first step is to register to Metamorphosis campaign and start accumulating powder. You can accumulate powder by simply holding mETH in your wallet. You can get multipliers by participating in DEFI. Depending on your risk tolerance, you can also loop your assets and use leverage to maximize your powder. You can also deposit mETH in Karak (invite code absd6, Egi8A) and farm Karak at the same time.
Mantle reward station
If you are bullish on Mantle’s MNT token, you can head to Mantle’s reward station and lock your tokens. The longer you lock your tokens, the more rewards you get. By using the reward station, you know exactly how many COOK token you are getting every day. With the Methamorphosis campaign, we still don’t know the conversion rate between powder and COOK.
Pendle.finance
You can participate in pendle’s liquidity pools for an extra multiplier. With pendle, you have the interesting YT option where you can literally “buy” points. So by buying even a small portion of YT, it is equivalent to depositing a much larger amount of mETH. However note that any YT you buy will have 0$ value at maturity (25 dec) and the value decreases every day, so you are literally buying powder.
$PUFF token
A portion of the $COOK token will go to the PUFF community. So holding the $PUFF token might make you eligible for the $COOK airdrop, however, we do not know if there’s a minimum to hold, what is the earning potential or whether you will have to exchange your PUFF for COOK. However if you are bullish on PUFF, it might be a good option.
Don’t forget to do your own research since there’s a lot of layers of risk involved in farming.