Wen MetaMask Token? Operations Head Says Temper Expectations

Will there be a MetaMask token? What is the release date of $MASK?

“We believe really deeply in progressive decentralization and doing it over time and doing it in ways that are meaningful—and doing it in ways that are not a cash grab,” – Jacob Cantele, MetaMask Lead of Operations

Unlike other Web 3 platforms, MetaMask, the largest and most popular Ethereum wallet by monthly average user volume, is still yet to release its own token.

In a report from Decrypt, Jacob Cantele, MetaMask Lead of Operations, addressed their 30 million reported monthly users to moderate their expectations as the firm is slowly but surely crafting its token.

He pointed out that the token will be “an important aspect” of being “community-owned” but users must also understand what the token would mean for the community as a whole. Cantele also noted that they do not aim to use the token like how other companies do: taking advantage of multiple wallets to maximize their profit before new tokens are given out to users.

Token drops are considered a great deal for a platform and its users as it gives gains for both parties. Tokens are used to gain traction for the platform. In return, tokens will allow users—with the tokens as their profitable asset—to partially own the platform. Tokens are also used to vote on protocol changes and decisions about treasury allocations.

Moreover, ConsenSys, the developers of MetaMask, is still busy improving the wallet by adding more products and features to it. For instance, last February, the blockchain tech company acquired the deep-rooted Ethereum interface MyCrypto. The acquisition—whilst teaming MyCrypto with MetaMask—will help improve the security of all products and create a cohesive user experience. (Read more: ConsenSys Acquires MyCrypto to Strengthen MetaMask)

In January, MetaMask also invited Web 3 developers to access Flask—a software designed as an experimental proving ground for their innovative features—and its latest technical innovations. (Read more: MetaMask Invites Web3 Developers to Access Flask, Launches its First-Ever Feature ‘Snaps’)

In the Philippines, MetaMask revealed exclusively to BitPinas that it has reached 3.57 million Filipino users, which is a 78.5% increase from the previously reported 2 million Philippine users last August 2021.

This article is published on BitPinas: Wen MetaMask Token? Operations Head Says Temper Expectations