Announcements Introducing mETH Protocol (COOK) on Launchpool: Stake to Earn Mining Rewards!

Introducing mETH Protocol (COOK) on Launchpool: Stake to Earn Mining Rewards!

2024-10-29 10:49:15 UTC 27646 Read

COOK/USDT -2.66%

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**About Gate.io Launchpool**
Gate.io Launchpool is a staking product in the platform’s Startup series, where users can stake designated tokens to receive rewards from the token pools.
<a href="https://www.gate.io/startup-mining?gt_disable_intercept_jump=1&needNavBar=0" target="_blank">Visit Launchpool and learn more</a>

**1.Introduction to “Launchpool” Project mETH Protocol (COOK)**
Deployed on Ethereum layer 1 (L1) and governed by Mantle, mETH Protocol has, since late 2023, been providing users with access to $mETH, a value-accumulating receipt token that is highly composable across a range of DeFi applications on Mantle Network L2, offering exposure to additional yield-bearing opportunities. Users stake ETH with mETH Protocol and receive yield-bearing $mETH, and unstake $mETH to receive the underlying principal staked ETH and accumulated rewards.
Website: https://www.mantle.xyz/meth

**2.mETH Protocol (COOK) Mining Rules**
(1) Staking Period: 11:00 AM on October 29th - 11:00 AM on November 5th (UTC), 2024
**(2) Staking Pool: COOK**
   -Total Staking Rewards: 500,000 COOK
   -Prize Pool Per Hour: 2976.19 COOK
   -Hourly Reward Cap Per User: 208.33 COOK
   -Minimum Staking Amount: 50.0 COOK
   -Unlocking Rule: 100% Unlock
**(3) "Single-Coin Multi-Mining" GT Pool**
   -Total Staking Rewards: 500,000 COOK
   -Prize Pool Per Hour: 2976.19 COOK
   -Hourly Reward Cap Per User: 208.33 COOK
   -Minimum Staking Amount: 0.01 GT
   -Unlocking Rule: 100% Unlock

**3.Reward Calculation and Distribution**
(1) COOK Staking Pool: The system will take multiple snapshots of personal staking amounts hourly, and take the average staking amount as the valid staking amount. Hourly staking reward = (Individual latest 1-hour valid staking amount / Total pool staking amount) × Hourly reward pool
(2) "Single-Coin Multi-Mining" GT Pool: The system will take multiple snapshots of the participants' GT holdings every hour, calculate the average to determine the effective holding amount, and distribute rewards based on that effective holding amount. Hourly Reward = (User GT Holding Amount / Total User GT Holdings in the Pool) x Hourly Reward for the Pool.
(3) Token rewards will be distributed into the spot accounts of eligible users hourly.
(4) Users can join COOK Staking Pool or "Single-Coin Multi-Mining" GT Pool at the same time to earn rewards from COOK pool and GT pool separately.

**4.Notice**
(1) After the staking ends, the staked assets will be automatically redeemed. Participants of "Single-Coin Multi-Mining" do not need to manually redeem their GT token.
(2) Users can increase or redeem the staked assets at any time during the staking period. After the user redeems in advance or the staking is completed, the staked assets will be transferred to Simple Earn by default. If this option is unchecked, the staked assets will be redeemed into spot assets. If the amount of redeemed assets is too small and does not meet the minimum subscription amount of Simple Earn, the assets will be automatically transferred to spot assets. Additionally, if Simple Earn does not support the subscription of the redeemed token, the assets will also be automatically transferred to spot assets.
(3) Please update your Gate.io App to the latest version (6.33.0) or higher, or visit Gate.io’s official website to join "<a href="https://www.gate.io/announcements/article/39718" target="_blank">Single-Coin Multi-Mining</a>" GT Pool. Before participating in Launchpool, please ensure that you fully understand the participation rules. <a href="https://www.gate.io/help/guide/faq/37021/startup-mining-faq" target="_blank">Click here</a> to learn more details.
(4) The use of duplicate accounts and any other cheating behaviors are strictly prohibited. Any cheating behavior will result in disqualification for receiving rewards.
(5) Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
(6) Gate.io reserves all rights to the final explanation.
(7) This event is not affiliated with Apple Inc. Users in the United Kingdom and other Restricted Locations cannot access the Services (including the participation in this event, game or competition). See the <a href="https://www.gate.io/zh/user-agreement" target="_blank"> User Agreement</a> for further details on Restricted Locations.

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Gate.io Team
October 29th,2024

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Introducing mETH Protocol (COOK) on Launchpool: Stake to Earn Mining Rewards!

Introducing mETH Protocol (COOK) on Launchpool: Stake to Earn Mining Rewards!

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