This week is all about Methamorphosis, the Mantle campaign for cMETH and its gov token COOK. Here I’m going to tell you, why you should farm it.

During the next 100 days, you earn Powder, which is convertible for COOK in the end.

The problem about the current airdrop meta is that almost every campaign is over-farmed and therefore, the rewards are diluted af. Linear distributed drops are of advantage of whales and this won’t be different with Methamorphosis.

But Mantle is still under farmed and most of the Powder can only be gained on the L2 itself. That means less dilution and in the end more rewards for you.

mETH will play a central role in gaining Powder until cMETH is available and only 125k of the total 476k mETH are on Mantle. With some leverage, you can get a good score here.

Providing liquidity will even get you up to a 40x multiplier for a mETH/stablecoin pool and 30x for mETH/wETH. Lending brings you 20x and just holding on Mantle 10x.

Of course, there will also be a Reward Station program for MNT, which will start on the 10th.

Use my Ref to earn 10% extra Powder through your own mETH holdings 👇

How to play Methamorphosis?
Like in most cases we have to keep in mind that the COOK we get in the end is highly speculative and we don’t really know if it’s even worth it.

However, I’m a big fan of how Mantle handled all the campaigns in the past and I think they will pull another good one. And I already mentioned that it’s still not farmed by the masses, but this can change. 5k mETH bridged to Mantle just in one day.

If it really gets the hype, there opens up another opportunity. In such a case just farming the yield, caused from high borrowing rates, can barely be beaten.

Strategies
If you don’t have a huge portfolio, a little leverage might be necessary to get a satisfying pile of Powder. But please be careful and don’t exhaust it. Everything you lose, you have to earn back!

The goal is to hold as much mETH and stake as many MNT as possible without losing money in the process.

Therefore, leveraging mETH on different money markets and choosing the best rates is necessary. If you’re also farming other LRT programs, you might also borrow on other L2s with more competitive rates and bridge over.

At the moment the rates are still pretty good.

Also think ahead of the masses and lock in good rates already.

Mantle is good to us and they show us where we have to look to get the most out of it. But that also applies to our competition.

Lets hope that Pendle will join the party.

In the Investment section I provided something special for you…

More for Mantle:

Investing

If you want to follow my farms, I made a Notion Site for all my current Farms. (not only on Mantle)

I want to keep updating the site and not just during Methamorphosis. If you have any questions, feel free to ask.

Defi Updates

Covenant is bringing some cool stuff. Check them out, they’re building a fantastic protocol!

You can still get some outstanding rewards currently.

Interesting calculations for the ETH ETF.

If you’re interested in one of the following projects, I appreciate if you’d use my code!

Methamorphosis (Mantle campaign for cMETH and COOK):
https://meth.mantle.xyz/campaigns/methamorphosis/seggsy
Rabby Wallet (Best EVM wallet):
https://rabby.io/rabby-points?code=SEXYLIFE
Aurelius Finance (CPD and Lending):
https://app.aurelius.finance/?af=sexy
Spot On Chain (Analytics Platform):
https://platform.spotonchain.ai/referral?code=0r3wi0eg6n33
HMX (Perp Trading, Arbitrum, Blast):
https://hmx.org/arbitrum/referral?ref=SEXYLIFE
Merkle Trade (Perp Trading, Aptos):
https://app.merkle.trade?ref=ISEOW51X
NFT Perp (NFT perp trading, Arbitrum, Blast):
https://app.nftperp.xyz/referral?code=DCAA40EE
Parcl (Real Estate Perp):
mojolife
Karak (Restaking):
wUpY9
c2zNh
LG7bW
TnV1u
YXHjj

Stay Sexy!

I’d appreciate if you give me some feedback and what you like to read in this newsletter, so I can provide the best value for you! Just send me a DM on X or respond directly to this mail.