DeutschConsenSys founder Joseph Lubin confirms: A MASK Token is coming! Crypto enthusiasts have been speculating about the launch of the cryptocurrency for years. According to the businessman, this could improve the decentralization of the browser wallet MetaMask. An old proposal suggested that ownership of the wallet could be distributed via a token. Owners would then receive dividends.
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MASK Token Confirmed: this Long-Awaited Currency is Coming
The MASK Token will be released soon – this was confirmed by ConsenSys CEO Joseph Lubin. MASK is said to be the cryptocurrency of the popular browser wallet MetaMask. ConsenSys is responsible for the development of the wallet.
“The MASK Token is coming. It’s coming sooner than people currently expect,” Lubin explained in an interview with TheBlock.
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What is the purpose of the token? The businessman made it clear that MASK should not be a meaningless token. The new cryptocurrency should play a significant role in the successful decentralization of the browser wallet. He did not explain in detail how exactly this could be achieved. However, he made it clear:
“You shouldn’t dismiss any opportunity for decentralization.”
Ethereum is in the process of progressive decentralization. As part of this development, the release of MASK is a useful building block.
“The Ethereum ecosystem has been on the path of progressive decentralization – for a long time. We are still figuring out how to ensure rigorous decentralization.”
ConsenSys: Linea Token Serves as a Model
In addition to a MASK Token, ConsenSys already operates a token for its in-house Ethereum Layer-2 Linea. Lubin makes it clear that such a token is usually beneficial for the decentralization of a crypto project.
“We will introduce further decentralization for Linea when it is needed. For this, the DAO technology and the understanding of blockchain management must mature further. This is very important work.”
Linea is experiencing strong institutional interest. According to Lubin, a DAO is only a hindrance for negotiations with such partners. It is also clear that deals with institutional partners are easier to handle if there is a separate token that can be sold profitably. A gradual improvement of the token is therefore also conceivable for MetaMask.
Why the MASK Token is so Popular
MetaMask conquered the crypto scene by storm since its release in 2016. The browser wallet was long considered the gold standard and had almost no serious competitors. Anyone who wanted to use DeFi did so via MetaMask.
Due to its enormous popularity, the possible launch of its own token came into discussion in the scene. MetaMask developer Eric Marks has a large share in popularizing this concept. In 2021, he brought up the idea of a MetaMask that serves as the property of the user community.
The ownership of MetaMask could thus be democratized. A MASK Token could serve as proof of a share in the wallet. Accordingly, holders could receive a return from the wallet’s income. Some tokens already implement this principle and pay out dividends to their holders again and again.
Will the MetaMask Token be Distributed via Airdrop?
Joseph Lubin left it open whether the upcoming MetaMask Token will be distributed via an airdrop. However, this concept is obvious. It is considered likely that active users of MetaMask will receive a reward for their activities.
In order to grab as many MASK Tokens as possible, some people want to use MetaMask as much as possible in the future. However, there is no certainty as to whether this idea will ultimately be rewarded.
