Puff Intern

Wanderer above the Sea of mETH Even if a tiny bit late, this is my contribution for the COOK MegaChef Content Bounty! Ready to dive deep into @mETHProtocol’s history, achievements and future plans? mETHProtocol: The Tale of a Meteoric Rise If we had to define mETH Protocol in one sentence, it would be: the beating heart of DeFi on @0xMantle. Venue for rich community rewards initiatives, Headquarters of Mantle’s products adoption, and definitely one of Mantlet's favorite protocols. But how did it get here? How did it launch both the 4th largest ETH liquid staking token ($mETH) and the 6th largest ETH liquid restaking token ($cmETH)? How did it surpass $1B TVL in just 66 days? (yes, it’s still a record among LSTs) Well, we’ll get there. Following the MIP-30 approval, Mantle LSP rebranded to mETH Protocol, launching on December ‘23, and announced $COOK (the coolest governance token ever envisioned) and $cmETH. The secret sauce that allowed it to demolish all these milestones and records mainly has three ingredients: an ecosystem of hungry buildooors, a smart use of capital and incentives, and a kick-ass team. Functional go-to-market strategies follow this pattern: 1. You create a product that is actually needed (good ol’ PMF) 2. You build an ecosystem around your products 3. You leverage incentives to kickstart and optimize organic growth Most crypto protocols do 3 before 1&2, and they usually end up killing their own token. But not @0xMantle: their wise use of the Treasury funds should be showcased as case study for other Web3 companies on how to effectively incentivize ecosystem’ players. That’s what led mETH Protocol to become the successful platform we all love. $mETH immediately gained traction thanks to the fast implementation that it received from Mantle’s DeFi eco. Protocols such as @MerchantMoe_xyz, @Agnidex and @lendlexyz immediately integrated $mETH, quickly bootstrapping growth. Same for $cmETH, which could leverage several restaking protocols like @eigencloud, @Karak_Network, and @symbioticfi, crossing $500M TVL within a week. In addition to this, the decision to reward the community to the fullest has had the best ROI. Instead of giving out unsustainable token rewards, Mantle used its Treasury to receive allocations from several protocols, and then gave out these rewards to the community (e.g. EigenLayer). In the $COOK case, 60% of the supply was allocated directly to the community, instead of rewarding team members, VCs and insiders as a lot of protocols still tend to do. Let’s now analyze all the reward programs led by @mETHProtocol for its community. mETH Protocol: The Lost Art of Incentivization With a 1,5B TVL for $mETH and a 700M TVL for $cmETH, @mETHProtocol has developed two of the best products in the industry. The best part? They rewarded the community plenty for using them! Let’s crunch some numbers now… 1. mETH Protocol’s Double-Dose Drive For this campaign, @0xMantle leveraged its own staked $ETH to offer a 7.2% native yield to its community—double the benchmark native yield for ETH LSPs. Basically, they passed its own ETH staking rewards to other mETH stakers. Sustainable and effective. 2. COOK Feast Sourced directly from @mETHProtocol Treasury, this campaign distributes rewards for COOK lockers, with a total rewards pool of 200 $cmETH. Current data shows 330M+ $COOK locked, and 5k+ participants. 3. EigenLayer Campaign By restaking their $mETH into EigenLayer, Mantle managed to give out to its community an impressive 2.098M $EIGEN, with distribution divided in 3 batches. 1st batch: 1,077,480.69 $EIGEN 2nd batch: 50,000 $EIGEN 3rd batch: 1,021,155.98 $EIGEN (I dare you to find a more rewarding ecosystem lol) 4. Methamorphosis S1 The Methamorphosis campaign marked the passage from Mantle LSP to the mETH Protocol we know today. This campaign has introduced both $COOK and $cmETH, and rewarded the utilization of mETH and cmETH, making the first attain the 4th position among the largest Ethereum LSTs, and the 6th position for its brand new LRT. Over the course of Season 1, $mETH's Total Value Locked (TVL) increased by 12.5% across both Ethereum network and Mantle Network. The total reward for Metamorphosis Season 1 has been 250M $COOK, with an additional 1.8M $COOK tied to the Stash Campaign. - Mantle Rewards Station: During the Methamorphosis S1, Mantle Rewards Station recorded a 125% increase in $MNT locked. Total Rewards have been 200M $COOK for S1, and we can speculate on a similar allocation for Methamorphosis S2. - @puff_drgn x mETH: With a staggering 300M $COOK distributed across The Ultimate Trilemma and the Puff Dragons NFT, this was my personal favorite campaign (I may be biased ehehe). The little dragon campaign has been one of the most rewarding initiative and for sure the funniest, plus we hope that Mantlets have learnt a thing or two regarding game theory! 5. Methamorphosis Season 2 (ongoing): Since the start of S2, we witnessed big adoption for both $mETH and $cmETH, who saw their TVLs surge. We can speculate about a similar S1 allocation (250M $COOK) Intern’s referral: app.methprotocol.xyz/campaig… 6. mETH'ed Up SZN This campaign introduced the content bounties, providing the community with a different source of reward. You write gud content about @mETHProtocol, and @mETHProtocol rewards you. Noice. Total Rewards: $1K worth of $COOK 7. mETH MasterChef Yeah, the reason we’re here today. Similar to the previous campaign, another community content bounty! Total Rewards: 30k $COOK To give you a rough calculation, all the previously mentioned rewards (at current market prices) amount to more or less $840M, and we didn’t count the Double Dose Drive rewards cuz we lacked some data. Total $COOK rewards by mETH Protocol: 1.2B+ $COOK Total non-$COOK rewards: $200 cmETH + 2.1M $EIGEN You can do your own calculation and see we’re (more or less) right. Almost 1B, given out to its community while keeping everything sustainable economic-wise. Now, my dear Anon, I think you understand “Why Mantle” and “Why mETH”, right? Otherwise, read everything again! Dulcis in fundo, for 2025 mETH envisions to start developing and offering institutional-grade products, leveraging the team expertise and experience in ensuring the safest and most rewarding staking products on the market. See you on on-chain, Mantlets!

Right this way, folks! The Mantle Yield Lab is here, with rich prizes and cotillons! Prepare to be amazed, fascinated, marveled: it’s the celebration of Mantlehood, and we spared no expense. Ready to go? We got a very busy schedule today!

It all started with a community vote, granting 8 DeFi protocols a spot in a lab. A lab whose purpose is to generate Yield. The @0xMantle Yield Lab is LIVE Here's how you can earn $MNT through Mantle DeFi⬇️

Who said dragons can't grow a bushy beard? @MerchantMoe_xyz gave me 15 WL spots for their iconic Beardy Moes collection's mint, celebrating @0xMantle eco's greatness. ➡️ Follow @puff_intern and @MerchantMoesxyz ➡️ Like & RT this post ➡️ DM me your EVM address Let's #GetBeardy!

After months of waiting, anxiety, assumptions and excitement, the time has come. No more waking up at night all sweaty, wondering what will happen to your fav lil’ black dragon. For @puff_drgn, it’s time for the truth. Halfway through the UT, let’s see what’s $COOKing