Owning COOK: Uses, Storage and Risks

COOK is mETH Protocol’s governance token. It is different from mETH, the receipt token users receive when they stake ETH through the protocol, and cmETH, the protocol’s liquid restaking token. Holding COOK does not by itself mean you have staked ETH or hold a claim to staking rewards.

The protocol presents COOK as a governance token, but the specific voting powers, proposal rules and decisions COOK holders can influence are not published. Don’t assume that holding it guarantees voting rights, income or a share of protocol fees. Check the current governance arrangements before relying on COOK for any particular purpose.

If you are considering the wider mETH Protocol, keep the tokens’ roles separate: mETH is connected to ETH staking, while COOK is associated with governance. The risks and potential uses of one should not be treated as applying identically to the other.

COOK is issued on Ethereum and Mantle; it is not described as the native coin of either network. A wallet needs to support the network you use and the relevant COOK token contract. A token displayed on one network may not be the same asset as a token with the same name on another, so verify the contract through an official mETH Protocol channel before receiving or sending COOK.

When transferring, select the matching network in both the sending wallet and the receiving service. Sending a token over the wrong network can leave it inaccessible, and recovery is not guaranteed. If you use a centralized exchange, check which network it supports for deposits and withdrawals; availability can differ from wallet support.

For self-custody, use a wallet that lets you control your keys and add or view tokens on the network you need. Don’t rely on a token name or ticker alone: copycat tokens can use the same label.

As of 2026-11-08, about 960 million COOK were circulating, against a total supply and maximum supply of 5 billion. The circulating figure can change, so treat it as a dated snapshot rather than a permanent count. The maximum supply is the stated cap; it does not mean all tokens are currently in circulation.

The protocol’s allocation, vesting or unlock schedule, and any burn policy are not published in the facts used for this guide. Those details matter when you assess how the circulating supply could change. A large difference between circulating and maximum supply can mean future releases affect the amount available to trade, but it does not establish when releases will happen or what they will do to the price.

Before relying on a supply figure, check its date and whether it refers to circulating, total or maximum supply. These are different measures and should not be treated as interchangeable.

For self-custody, store COOK in a wallet that supports its network and keep your recovery phrase offline, private and backed up. Anyone who gets that phrase can generally control the assets in the wallet. Never share it with a person or website claiming it is needed to verify, migrate or unlock your tokens.

Use a hardware wallet if that suits your needs, and check the address and network on the device before confirming a transfer. For a small test transfer, first make sure the receiving wallet can access COOK on the selected network. Keep enough of that network’s native token to cover transaction fees; COOK itself may not pay for the transaction.

If you leave COOK with an exchange or another custodian, you rely on that provider’s security and withdrawal policies. Check whether withdrawals are enabled on the network you intend to use, and secure the account with a unique password and available account protections.

COOK can be volatile, and a governance token’s value may depend on whether its governance role is clear and useful. The project has not published the token’s precise voting scope, and no supply release schedule is given here. Don’t treat a stated maximum supply as proof that the circulating amount will stay fixed.

If you use mETH or cmETH in staking or DeFi, you also take risks beyond holding COOK. Liquid staking tokens can trade below the value of the underlying ETH, and withdrawals may depend on protocol processes, validator conditions or available liquidity. Using a token as collateral or in a liquidity pool can add liquidation, smart-contract and market risks. Those risks are not a promise of extra yield.

The protocol describes non-custodial core contracts and off-chain services that apply risk limits, but that does not remove technical or operational risk. Fees are not published. Check the current terms, costs, withdrawal conditions and contract information before committing assets, and only use funds you can afford to lose.