With a fresh wave of opportunities, the mETH Protocol’s COOK token is making headlines on Gate.io’s Startup Mining (launchpool) and Bitrue exchange. Whether you want to stake on Gate.io to mine COOK or joining Bitrue’s special launch events, there’s a variety of ways to get involved. Here’s everything you need to know about these unique opportunities to earn a little bit more crypto.
Key Takeaways:
- Stake COOK or GT on Gate.io to earn from a 500,000 COOK reward pool.
- Bitrue’s events offer additional $COOK rewards, from deposit rewards to staking APYs up to 100%.
Gate.io Startup Mining: Stake COOK or GT to Earn Tokens
Gate.io’s Startup Mining (launchpool) program lets you earn rewards by staking tokens from specific pools. Right now, COOK, the governance token of the mETH Protocol, is up for grabs. This Ethereum-based protocol allows users to earn $mETH yield-bearing tokens by staking Ethereum on Mantle Network’s Layer 2. If you’ve been looking for a new DeFi opportunity, this could be the chance to explore what decentralized finance has to offer.
Staking Period: October 29, 2024, 11:00 AM (UTC) to November 5, 2024, 11:00 AM (UTC). Countdown below will expire when staking period ends:
Gate.io offers two main ways to mine COOK: through a dedicated COOK Staking Pool and a “Single-Coin Multi-Mining” GT Pool. Here’s a quick breakdown of each:
| Pool | Total Rewards | Hourly Prize Pool | Hourly Reward Cap | Minimum Stake |
|---|---|---|---|---|
| COOK Pool | 500,000 COOK | 2,976.19 COOK | 208.33 COOK per user | 50 COOK |
| GT Pool | 500,000 COOK | 2,976.19 COOK | 208.33 COOK per user | 0.01 GT |
You can join either or both pools, making it easy to boost your earnings by staking COOK and GT simultaneously. Both pools allow for flexible deposits and redemptions, so you can adjust your stakes as needed.
Rewards Calculation
Gate.io uses hourly snapshots to ensure fair distribution of rewards based on your staked amount. The system takes multiple snapshots of each user’s staking amount every hour, calculates an average, and distributes rewards based on the pool’s hourly prize cap.
- COOK Pool: Rewards are distributed based on your average hourly stake.
- GT Pool: GT holders earn a share based on their staked amount in the “Single-Coin Multi-Mining” pool.
All rewards are transferred directly to your spot account, keeping things seamless. At the end of the staking period, all staked assets are automatically redeemed, so you don’t need to worry about manual redemptions.
To start staking or review all the details, visit Gate’s Startup Mining page.
Bitrue’s Special COOK Events: More Ways to Earn
In addition to Gate.io, Bitrue exchange is also celebrating COOK’s launch with a lineup of unique events, offering even more ways to earn and trade.
Upcoming Bitrue COOK Events:
- COOK/USDT Trading: Beginning on October 29, 2024, at 10:00 AM (UTC), you’ll be able to buy and sell COOK tokens on Bitrue.
- Deposit Contest: From October 29 onward, deposit COOK to earn a share of the 50,000 COOK prize pool. The more you deposit, the higher your share.
- Power Piggy Program: Starting October 30, COOK will join Bitrue’s Power Piggy, where you can invest for a potential 100% APY if you’re a new user. Existing users can earn up to 20% APY with flexible withdrawals.
- Staking Event: On October 30, Bitrue will release 250,000 COOK for staking, with APYs up to 80% for MNT and COOK staking.
With COOK’s launch across these two platforms, Bitrue’s Chief Marketing Officer, Adam O’Neill, has highlighted the platform’s dedication to giving users early access to high-potential tokens. In O’Neill’s words, “COOK is precisely the kind of asset our users are looking to add into their portfolios”.
What is mETH Protocol?
The mETH Protocol, previously known as Mantle LSP, is a permissionless, non-custodial liquid staking protocol for Ethereum (ETH), designed to maximize staking efficiency and security. Running on Ethereum Layer 1 (L1) and governed by Mantle, it offers a consistent annual percentage yield (APY) for staking, with almost 500,000 ETH already staked across 15,000+ validators.
When users stake ETH with mETH Protocol, they receive mETH (Mantle Staked Ether) as a receipt token. This ERC-20 token is both value-accumulating and permissionless, making it easy to integrate across decentralized finance (DeFi) applications, especially on Mantle Layer 2 (L2).
Aiming for broad adoption, mETH is built on a simplified, risk-managed architecture, emphasizing core ETH staking integrity post-Ethereum Shanghai Upgrade, without complicating protocols from other PoS tokens. As a core Mantle product, mETH Protocol is further supported by Mantle’s governance, treasury, and development resources, aligning it closely with the Mantle ecosystem.
To learn more about mETH Protocol, you can visit Mantle’s official website.
Get Started and Earn COOK Today
Whether you’re interested in staking on Gate.io’s Startup Mining or participating in Bitrue’s launch events, COOK offers a range of opportunities to boost your crypto portfolio. These events are designed for flexibility, letting you engage at your own pace while maximizing potential rewards.
