Cook

• COOK is the governance token of mETH Protocol, the liquid staking product within the Mantle ecosystem.

• Users stake ETH and receive mETH, which accrues staking rewards while remaining transferable.

• COOK governs protocol parameters and reward distribution.

• Supply allocated across community, ecosystem and contributors.

• Governance over the mETH protocol rather than direct fee capture.

Pros:

• Backed by the Mantle treasury, which is among the larger DAO treasuries in crypto.

• mETH has substantial deposits relative to newer liquid staking entrants.

• Integrated across the Mantle ecosystem by default.

Cons:

• Closely tied to Mantle, so its prospects track that ecosystem.

• Governance token separate from the yield-bearing asset, so holders do not receive staking rewards.

• Competes against far larger liquid staking protocols.

• Exposure to liquid staking within the Mantle ecosystem.

• Treasury backing provides unusual resources.

• Note that COOK governs the protocol; mETH is what earns the yield.

• Liquid staking backed by one of the largest DAO treasuries in crypto, which underwrites the protocol's growth.

• Staked ETH is locked and unusable in DeFi.

• A liquid claim restores usability, with the ecosystem treasury subsidising adoption.

• Developed within the Mantle ecosystem.

• Governed by Mantle and COOK holders.

• No public ICO. Distributed through ecosystem and community allocations.

• Dependency on the Mantle ecosystem.

• Governance token holders do not receive staking yield.

• Competition from much larger liquid staking protocols.

• Peg risk on mETH during withdrawal congestion.