Binance Web3 Wallet Launches 2.5M COOK Airdrop, Rewarding ETH Stakers On Mantle
In Brief
Binance Web3 Wallet launched a campaign with Mantle, allowing users to earn up to 2.5 million COOK, 3% APR from ETH staking, and more.
Self-custody wallet within the cryptocurrency exchange application Binance, Binance Web3 Wallet, launched a new campaign in collaboration with the Layer 2 scaling solution Mantle. This initiative allows eligible users to earn a range of rewards, encompassing a total of 2.5 million COOK tokens, 3% dynamic Annual Percentage Rate (APR) rewards from ETH staking, and a 5% COOK airdrop from Season 1: Methamorphosis. The activity is currently ongoing and will end at 23:59 UTC on August 22nd.
It includes two promotions. The first ranks eligible users in accordance with their total mETH staking amount over the course of the Promotion Period. The leading three hundred participants will share in the rewards, with the 1st to 3rd place winners receiving up to 72,000 COOK, the 4th to 20th place winners receiving up to 22,000 COOK, the 21st to 50th place winners receiving up to 8,500 COOK, the 51st to 100th place winners receiving up to 3,500 COOK each, and the 101st to 300th place winners receiving up to 850 COOK.
The second activity allows individuals to stake ETH to generate rewards from a 1,310,000 COOK prize pool. It enables 5,600 eligible participants, staking 0.02 ETH on Ethereum or Mantle and joining the activity, to be granted with 233 COOK.
In order to take part, individuals should visit the campaign webpage to register, log in with their Binance Web3 Wallet on Mantle’s decentralized application (dApp), and stake no less than 0.02 ETH to Mantle.
What Is Mantle Network, Its Liquid Staking Protocol, And mETH?
Mantle Network is creating an EVM-compatible scaling solution for Ethereum. It employs optimistic rollups and multiple advanced data availability approaches to deliver cost-effective and accessible data solutions, simultaneously maintaining Ethereum’s security.
Its Liquid Staking Protocol (LSP) represents a non-custodial ETH LSP governed by Mantle. Meanwhile, the staked ETH, referred to as mETH, operates as the value-accumulating receipt token. An LSP enables the aggregation of ETH deposits from stakers, allowing them to gain incentives from Ethereum’s Proof-of-Stake (PoS) validation services. Stakers get a mETH which represents their claim to both the staked principal and the generated rewards. Incentives are derived from issuance, priority fees, as well as miner extractable value (MEV) and are distributed to the stakers, the LSP, as well as the node operator.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
