Huge Airdrop LIVE on Mantle ($COOK)

Boxmining

69.3K views 290 11 months ago

Description

Mantle recently launched its largest airdrop campaign Methamorphosis. 🚨FULL GUIDE: https://airdroplet.com/airdrop/cook-airdrop The campaign will airdrop $COOK tokens to MNT and mETH (Mantle Staked E...

Mantle recently launched its largest airdrop campaign Methamorphosis. 🚨FULL GUIDE: https://airdroplet.com/airdrop/cook-airdrop The campaign will airdrop $COOK tokens to MNT and mETH (Mantle Staked Ether) holders and stakers. The $COOK token itself will be the governance token for mETH and future cmETH (liquid restaking token and expansion of mETH). There are several strategies to earn the airdrop, ranging from easy (simple staking) to complex (yield farming on L2 DApps). Here's a step-by-step guide. Methamorphosis $COOK Airdrop Dashboard (for mETH): https://meth.mantle.xyz/campaigns/methamorphosis/boxmining Mantle Rewards Station (for MNT): https://mantle.to/bom-rewards-station-cook ●▬▬▬▬▬▬▬▬▬▬Chapters▬▬▬▬▬▬▬▬▬● 0:00 Intro 00:43 Airdrop Strategy Overview 02:10 Strategy 1: Locking MNT Tokens 05:22 Strategy 2: Staking Ethereum on Mantle 07:34 Maximizing Your Powder Rewards 09:29 Conclusion and Final Thoughts 🌼 GET $30,000 in rewards on Bybit: https://partner.bybit.com/b/boxyt BingX Sign-up Bonus: https://bingx.com/invite/QP0XYB Join our Discord: https://discord.gg/UgJd5JPx3Z ●▬▬▬▬▬▬▬Recommendations▬▬▬▬▬▬▬● 📲Binance Exchange: http://boxmining.co/binance 📖 Guides, tutorials and insights: https://boxmining.com/ 🔒Hardware Wallet: http://boxmining.co/ledger 👍🏻Brave Browser: http://boxmining.co/brave ●▬▬▬▬▬▬▬▬▬▬Community▬▬▬▬▬▬▬▬▬● Boxmining clips: https://www.youtube.com/channel/UCjFy3VBgOZanySOLhQu6GaQ Boxmining News Website: https://www.boxmining.com/ Telegram Group: https://t.me/BoxminingFam ●▬▬▬▬▬▬▬▬▬▬▬Social▬▬▬▬▬▬▬▬▬▬▬● Twitter: https://twitter.com/boxmining Discord: https://discord.gg/9qCpqpZm8G Facebook: https://www.facebook.com/boxmining ●▬▬▬▬▬▬▬▬▬▬DISCLAIMER▬▬▬▬▬▬▬▬● Boxmining, including its employees, are not affiliated with and do not endorse or sponsor any token sales, initial coin offerings, initial exchange offerings and/or airdrops (the “token sales”) unless clearly disclosed. The contents of these videos are for information purposes only. Boxmining and its employees do not provide investment advice and do not take one’s personal circumstances into consideration when providing information about token sales and cryptocurrency exchanges or platforms. In light of the above, Boxmining and its employees may hold the cryptocurrencies mentioned in the videos. Please note that there are legal requirements in various countries that may restrict token sales, and furthermore, the access to, and products and services provided by any of the cryptocurrency exchanges or platforms mentioned in these videos. Consequently, the contents of this video are not directed at or intended to be accessible by persons in any jurisdiction where the extension of the availability of the materials to which you are seeking access would breach any applicable law or regulation. Decisions to participate in token sales or to buy, sell or hold cryptocurrencies, as well as the access to and use of any cryptocurrency exchange or platform involves risk. You are also responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to any such token sale, or the access to and use of any cryptocurrency exchange or platform. You must use your own judgment or consult a professional for advice on such matters.

AI Analysis

There's a massive airdrop opportunity brewing on Mantle with their Metamorphosis campaign, which is super important for both Ethereum and Mantle token holders. Not only can you snag some impressive Annual Percentage Yield (APY), but there are also some fantastic $COOK token airdrops on the table. The $COOK token itself is slated to become the governance token for mETH and its future expansion, cmETH, making this campaign a big deal for the ecosystem.

Here’s a breakdown of the key strategies to get in on this airdrop:

* The Metamorphosis Campaign: The main goal here is to earn the $COOK airdrop. There are two primary ways to do it, catering to different levels of DeFi experience and asset holdings. This campaign is already live, so it's time to get involved!

* Strategy 1: Locking MNT Tokens (The Easy Way):
* This is the simplest approach, perfect if you're new to decentralized finance (DeFi).
* It involves holding and staking Mantle's native MNT token. I personally really like MNT and feel it has significant growth potential.
* To get started, you just need to get MNT onto the Mantle network. For me, the easiest way was to withdraw MNT directly from Bybit into MetaMask, making sure to select the Mantle network during withdrawal.
* Once you have MNT, head over to the Mantle Reward Station to lock your tokens.
* You have a choice for how long to lock your tokens: "flexible" or "locked for 50 days." A 50-day lock means your tokens are inaccessible for that period, which is great if you're sure you won't sell. I personally chose the "flexible" option because I value the ability to withdraw and manage my tokens as needed.
* After locking, you'll see your "Mantle Power" (MP) increase. The more MP you accumulate, the more $COOK tokens you’ll receive. This system is similar to previous distributions, like the EFINA M-Shards that were given out before.
* This strategy is pretty hands-off once your MNT is locked; just keep an eye on your MP to track your potential $COOK distribution.

* Strategy 2: Staking Ethereum on Mantle (The Big One for ETH Holders):
* This strategy is for all you Ethereum holders who are looking to do more than just passively hold your ETH. It's more involved but offers substantially higher rewards.
* You’re not just getting one type of reward; you're stacking them! This includes your regular Ethereum staking rewards, future restaking rewards from cmETH, points for the Eigenlayer airdrop, and the $COOK Season 1 airdrop. It’s a massive stack that can lead to a really high APY.
* The process starts on the Ethereum network, so be aware that it’s a bit more expensive due to gas fees compared to the MNT strategy.
* Step 1: Get mETH. You need to stake your Ethereum to convert it into mETH (Mantle Staked Ether). When you stake, say, 1 ETH, you'll receive slightly less than 1 mETH because mETH already accounts for accumulated staking rewards from the get-go.
* Step 2: Bridge mETH to Mantle. Once you have mETH on the Ethereum network, you need to bridge it over to the Mantle network. There’s an option to "bridge to layer 2 after staking" which makes the process smoother and potentially cheaper.
* Costs: Expect to pay around $7 in fees for staking and another $21 for bridging, bringing the total cost for this process to roughly $30. The bridging can take about 24 hours to complete.
* Tracking Rewards ("Powder"): After bridging, your mETH will show up on the Layer 2 dashboard. You'll see that it's generating "powder" rewards at a 10x rate. Powder is Mantle’s reward point system for airdrops; the more powder you accumulate, the more $COOK tokens you'll receive. You can see your daily and total powder accumulation on the dashboard. The campaign still has over 80 days left, but getting in early maximizes the time you have to earn powder.
* Maximizing Powder (and My Personal Take): The platform also highlights opportunities to earn even more powder, up to 40x in some campaigns. However, a big "but" here is that these often involve participating in liquidity pairs, which come with the risk of impermanent loss. Plus, sometimes these pairs are with assets that don't yield, potentially eating into your overall returns. For this reason, I personally decided to stick with just holding mETH in my wallet for now. It might not be the flashiest strategy, but it’s straightforward and, in my opinion, safer. I’m staying a bit more conservative rather than going too aggressive.

In conclusion, while the second strategy, involving mETH, is more complex and has several steps – staking ETH, converting to mETH, and bridging it to the Mantle network – the rewards are well worth the effort. You get native staking rewards, Eigenlayer points, and a significant $COOK airdrop, truly stacking your gains. It's a comprehensive way to earn multiple rewards from a single action. If you're tackling the mETH process, you might find it helpful to watch the guide a few times to get all the intricacies down.

Transcript

There is a huge airdrop opportunity cooking up our mantle. And this is especially important for your Ethereum or mantle holders. Both of you guys should pay attention because not only are you going to get some crazy APY, but there's some damn good airdrops coming from the cooked token as well. This campaign is called metamorphosis. We're going to explore the two strategies that you need to get familiar with to get to this airdrop. And both of these are already live. So guys, let's get cooking. ...

There is a huge airdrop opportunity cooking up our mantle. And this is especially important for your Ethereum or mantle holders. Both of you guys should pay attention because not only are you going to get some crazy APY, but there's some damn good airdrops coming from the cooked token as well. This campaign is called metamorphosis. We're going to explore the two strategies that you need to get familiar with to get to this airdrop. And both of these are already live. So guys, let's get cooking. This video is not financial advice. And as you can clearly see, I'm not your financial advisor. Okay guys, so enough of the stupid Breaking Bad jokes. Ron, let's talk about what the actual target is here. So we are targeting... So the campaign itself is called metamorphosis. The primary goal here is to earn the cook airdrop. There are two ways to earn the cook airdrop. The first way you can do is by locking MNT token. This is the mantle native token. This is the easy way. If you have no experience in DeFi, it's very straightforward. The second one is with METH. That is the liquid staking token of Ethereum on mantle. This one's really big for Ethereum holders. So if you're just passively holding Ethereum, then you're not getting much. But when you're in part of this metamorphosis event, you're going to double stake and rake in those rewards. Because you're going to get the staking rewards. You're going to get eigenlayer points. You're going to get metamorphosis, the cook tokens as well. And because they're really pushing this campaign the hardest, in fact, in terms of the most token distribution here. This is the one that you have to pay attention to. So ETH holders, I know it's a lot of work. But this plan of attack is the one that you really need to pay attention to. There's going to be timestamps below to look at both these strategies and we explore them in detail in a step-by-step guide. We're back in the main filming room and now I have my computer here. So I can show you the step-by-step process on how to get started farming that cook. So the easiest way, strategy number one, is to work with mantle, the MNT token. You guys know that this is one of my favorite tokens because I feel like it has a lot of potential to grow. And right now, the easiest way to do it is to stake it. You just need to get some mantle onto the mantle network. For me, I'm personally just using MetaMask. It's actually not changing anything. But all I'm doing is I'm just using it on the mantle network. In order to get your mantle, for me, the easiest way was just to withdraw from Bybit. So if you have a Bybit account and you're already playing around with it, you can actually easily get some, you know, just withdraw your mantle. And when you enter your wallet address, you can just select your mantle network and then make sure it's on the mantle network. And then you just withdraw your mantle straight and directly into your MetaMask. And also, of course, just if you guys want to use Bybit, there's a referral link down below. They've been a long-term supporter of our channel. So, yeah, pretty easy. So say, for example, I can lock up 10,000 MNT tokens. And there's a tricky part here where you have to select how long to lock it up. So, for me, I personally played around with both flexible and lock and lock for 50 days. So a lock for 50 days means that you'll be unable to unlock it for 50 days. So if you know already that you're not going to sell your mantle within the next 15 days, then sure, use a long one. If you want to be flexible, like sometimes for me, I like my flexibility. I like to be able to withdraw and put in and put out, pull out. Then for me, this is the best option. So, yeah, I personally just chose that for my options. So then you just click the lock button up here. Then click confirm. And then I can see that I've locked 10,000 MNT tokens here. You can see that my MP has gone up too. So it's 10,100 MP. And then that's when you know that you're good. Your lock status is good. And it goes without saying that the more mantle power that you have, the more Cook distribution that you have. This is very similar to previous distribution. They actually gave out EFINA M-Shards earlier. And that's a huge amount, actually. So they actually gave around 4.29 million EFINA on this platform reward station previously. So right now, the biggest one is the mantle LSP or Cook. But eventually, they're going to do more on this platform too. So, yeah, definitely pay attention and definitely also click on this page to know what's going on in terms of your Cook distribution for the mantle reward station. So, honestly, after that, that's pretty much it for the first strategy. There's not much to it. Just make sure you check your MP. And the more MP you have, the more rewards you're going to get in terms of Cook. Before we continue, guys, I just one thing I need to tell you. We have multiple channels serving up different types of content. If you want more airdrop information, we have this channel here. And then secondly, if you want news and updates, we have a channel called Box Mining Why to tell you why crypto is going up. Biggest question, of course, is why do you have so many channels? It's because our second channel, Box Mining Plus, was banned by YouTube. So, yeah, it's a whole thing about crypto and new content. So we're rebuilding. We're making this content and better for you guys. If you guys are interested in any of this type of content, watch these channels. You have a blast. Oof. Now we're here for strategy two. This is the big one. This is the one for all you Ethereum holders out there that, you know, you have Ethereum. You don't know what to do with it. You want to stake it and you want to rack up those crazy rewards. And this is what you really want. You want to be on the mantle LSP. You want to get the staking rewards for Ethereum. You want to get the restaking rewards from the CMF. You want to get the Eigenlayer airdrop. You want to get the Cook Season 1 airdrop. So this is where the massive stack is going to be. Once you rack that up, that number becomes large APY. Now, the operation here I'm going to show you takes you through on Ethereum network. So as opposed to the first one, stage part one, this is a little bit more expensive because ETH is a little bit harder to operate. But here I'm assuming that if you have ETH already, you know how to put this game works. So let's start. First and foremost, you just need to get the MEF first. So let's switch network to Ethereum. All right. So I loaded up some Ethereum. I'm just going to do a simple 1EF stake. And then you're going to get EF. So when you do the stake, you get less than 1 MEF because MEF already includes the rewards there. So this is like the rewards from the get-go. So you'll see the discrepancy, but you don't have to be worried. You're not losing anything in the process. Just when you unstake it, it'll become 1EF outside. Okay. So you can stake it here. And personally, I switched on this option to bridge to layer 2 after staking. That just makes things easier and cheaper for me to operate. But yeah, it just receives the on-demand to address in the future. So yep, stake and bridge. And in terms of fees, I'm paying around $7 of fees. And there we go. So yep, you click the stake button, you confirm everything. And then let's wait for it. Because I clicked on a second option, which is to approve the transfer, you need to approve it. The transfer needs to be approved on MetaMask again. So now we're bridging the MEF across from Ethereum to the Mantle network. Right, done. And bridge. The bridging does take a little bit of money as well. So it actually takes $21. So in total, I'm probably going to spend around $30. 24 hours later. We're actually in day 2 here. And I just want to show you the dashboard of everything working in progress. So here on layer 2 holdings, I'm holding the 0.96 MEF. And it shows it correctly here. And it shows that it's rewarding 10x powder. So everything's already live. The powder's already being rewarded. And this counts as their reward point system for the airdrops. So the more powder you earn, the more rewards you're going to get. You're going to see here the daily powder, how much you're going to earn. So this is my 9.624. And then the total powder I have. So this will just increase over time as this campaign goes on. So there's still 81 days. But obviously, the earlier you get in, the more days you have to accumulate your powder. So it's beneficial to go in as early as possible. And a final note as well, I just want to point this out. So right now, if you're holding on layer 2, you're going to be getting the powder rewards, the eigenlayer points, the yields from the ETH. So you're already very, very stacked. But there are actually ways to get even more powder. So if you actually go on the how you earn pages on the side, you'll see that there are certain campaigns that give up to 40x powder. So 4x more than just normally holding your wallet. This might sound amazing, but there is a big but here. Some of these are in liquidity pairs. So you're going to suffer impermanent loss. And they pair it with an asset that doesn't have yield. So yeah, you're going to make more on one side, but the other side you're pairing with something that doesn't have yield. So for me personally, I weighed out the options. And I was like, you know what? I'm just going to stick with kind of just holding it in my wallet for now. Look, it doesn't look pretty, but it's honest work. All right, that's my personal take on it. So yeah, I'm staying a little bit chill for now. At this current point before going too aggressive. Well folks, that is it for this video. So I know it's quite involved, especially the second part. There was a lot of intricacies on how to stake your ETH and convert it to METH. Move that onto the mantle network. It's definitely involved. But for your hassle, you get the massive rewards. So you get your rewards from just native staking. You get your eigen layer points still. You still get your cook airdrop. So there we go. That's how to stack, right? So anyways, if you guys found the process easy, found it hard, leave a comment down below. I'd love to hear what you think. I do think like actually going through this video, I feel like you probably need to watch it a few times to get through all the processes still. But I hope you guys enjoyed a guide like this. Guys, with that guys, thank you guys so much for watching today's video. I'll see you in the next one. Boys, we're going to the moon. Not really.