Demex Daily #270: Mantle's mETH Protocol Launches $COOK Token and Season 2 on October 29, 2024

What’s Interesting Today:

The mETH protocol will launch its $COOK token on October 29, 2024, coinciding with the end of Season 1 and the beginning of Season 2: Methamorphosis on October 30. During Season 1, users earned $COOK by participating in activities, resulting in a 12.5% increase in Total Value Locked for $mETH. In Season 2, users will continue to earn Powder rewards that can be converted to $COOK, with incentives for both $mETH and the new $cmETH token available for the first 30 days. Only $cmETH will be incentivized for the remaining 80 days, and additional details about $COOK distribution will be announced later.

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BitcoinOS is launching its Grail bridge for the Cardano network, facilitating the transfer of capital from Bitcoin to Cardano. EMURGO, a founding entity of Cardano, will develop tools and services to support this integration, including sending ADA tokens to the Bitcoin network. The Grail bridge leverages verified zero-knowledge proofs for enhanced security, aiming to provide safer asset transfers between blockchains. While bridges play a crucial role in enabling cross-chain transactions, they are often vulnerable to attacks; the ZKP-based approach seeks to address these security concerns. As of now, ADA is trading at 34 cents, down 2.5% in the last 24 hours.