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Insightful|Feb 12, 2025 02:04
Claim and Allocation Details for Mantle's Methamorphosis S2 have recently been revealed
Here is everything you need to know
https://x.com/mETHProtocol/status/1887767135235256711
Wraps up Feb 16th
4% of the total COOK token supply will be allocated to Season 2
No vesting claim will be live in early March
Eligibility Criteria: qualifying mETH and/or cmETH holdings from October 30th to November 29th, 2024, cmETH for Nov 30th to end of S2 campaign.
Rewards from restaking automatically accumulate on platforms like EigenLayer, Symbiotic, Karak, and Veda ( $cmETH is the only LRT doing this)
S3 is coming + new major Mantle product launch
You can still lock COOK to earn a share of 200 cmETH in rewards
Is COOK undervalued ?
If we use a ratio to compare token FDV to ecosystem TVL:
(A lower ratio would mean that there is more TVL relative to the current FDV of the associated tokens thus arguably more potential upside)
LDO FDV (1.6B) x Lido TVL (26.8B), Ratio = 0.06
ETHFI FDV (251M) x Etherfi TVL (7B), Ratio = 0.036
RPL FDV (130M) x Rocket Pool TVL (2.15B), Ratio = 0.06
COOK FDV (15M) x mETH Protocol TVL (1.4B), Ratio = 0.0107
TLDR = COOK has a strong FDV/TVL ratio relative to its ecosystem size when compared against its competitors
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