ConsenSys co-founder tantalizes the possibility of a MetaMask token
“This is the first time I’ve seen a blockchain token that has utility outside of an exchange.”
The “who owns infura” is a question that has been asked before. The co-founder of ConsenSys, Joseph Lubin, tantalizes the possibility of a MetaMask token.
During a Twitter debate, Joseph Lubin, the co-founder of Ethereum development startup ConsenSys, suggested the prospect of a MetaMask coin.
MetaMask is a browser plugin that allows users to interact with the Ethereum ecosystem. It functions as a “lite wallet” for ERC-20 tokens, enabling users to access Ethereum-based services, such as decentralized applications (dApps).
ConsenSys announced in September that the MetaMask wallet had passed a critical milestone, with 10 million monthly active users (MAUs). Its MAUs have increased by 1,800 percent from July 2020, when they were 545,000.
With MetaMask being one of the most popular wallets out there, there are great hopes for a $MASK token.
Is there a $MASK token on the way?
Lubin’s shocking revelation occurred after a tweet by @icebergy_, who joked that MetaMask would have to drop a token to compete with Coinbase’s announcement of a browser wallet plugin.
Metamask will have to provide a token image. twitter.com/YP0gOI6PDv
— icebergy (@icebergy_) (@icebergy_) (@icebergy_) (@icebergy_) (@ice 8 November 2021
JPMorgan’s ownership in MetaMask and a reluctance to retaining the token on its balance sheet, according to Andrew Thurman, a tech writer at Coindesk, would prevent it from happening.
Lubin, on the other hand, denied this claim, claiming that ConsenSys already owns thousands of tokens on its balance sheet, meaning that this has no influence on shareholder governance.
He then went on to justify his views by claiming that decentralizing these initiatives eliminates any potential conflicts of interest. Lubin finished by teasing a $MASK token and said, “keep tuned.”
Andrew, On our balance sheet, ConsenSys possesses thousands of tokens. Employees at ConsenSys, including me, exert tight control over the company. Several of our initiatives are also moving toward decentralization. What’s the deal with $MASK? Keep an eye out for updates. “Wen objective journalism, ser?” says the narrator.
Is there a chance of a MetaMask token airdrop?
UniSwap tokens were randomly distributed to qualified customers in September 2020. Users must have used the UniSwap dex before September 1, 2020, at 12:00 a.m. UTC to be eligible for the 400 free $UNI tokens.
Token holders gained about 18,000 percent from the time of distribution to the high of $44.92 on May 3, 2021. It’s now one of the most lucrative airdrops in recent memory.
With the announcement of a MetaMask coin, rumors of a similar event are circulating on social media. One Reddit user quipped that spending $100 in gas for an in-wallet switch may be worth it if it meant getting free tokens.
“Whoa, whoa, whoa, whoa, whoa, whoa, It’ll be big if they conduct the airdrop.
Even if it costs me $100 in petrol fees, I need to make a metamask change as soon as possible.”
There are currently no information on the $MASK token’s eligibility criterion. Given the possible incentives, it wouldn’t be shocking if MetaMask activity skyrocketed in the next days and weeks.
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ConsenSys co-founder, Joe Lubin, tantalizes the possibility of a MetaMask token. He also mentions that Ethereum is not the only blockchain to offer decentralized applications with smart contracts. Reference: consensys blog.
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