Tuesday, September 28, 2021
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Biggest crypto airdrop of all time? Metamask is considering its own token




Metamask: Wallet could bring its own token – via Airdrop. (Image: Ascannio / Shutterstock)

The team of the popular open source crypto wallet Metamask has shown itself to be open to issuing its own token. The possible crypto airdrop would be the largest of its kind to date.

As part of its first developer community call, the Metamask team discussed, among other things, the options for introducing your own token. As in the previous year, the Defi projects (Decentralized Finance) Uniswap and 1inch, Metamask could distribute a potential own token to the community via a so-called airdrop. An airdrop means the free distribution of tokens, which often takes place with new cryptocurrencies.




Metamask: Token should have use case

Erik Marks, senior software developer at Metamask, emphasized, however, that his team is open to the introduction of its own token, but is currently not pursuing any concrete plans, as BTC-Echo writes. Also, Marks said the Metamask team wanted to create a token that had a compelling use case. It is not clear what this could be. Marks wants to prevent the possible metamask token from becoming a victim of so-called pump-and-dump activities, i.e. purely an object of speculation.

According to BTC Echo, a metamask airdrop would be the largest in crypto history to date. Metamask, a wallet that is particularly popular with die-hard fans of crypto currencies, currently has around five million users. The popularity of Airdrops is based on the possible chances of winning. At the Airdrop from Uniswap, the largest Defi platform, the first users received 400 so-called Uni-Token each, which at the time were worth around three US dollars each. A Uni-Token is currently being traded at a price of just under $ 30.

Metamask team announces new features

The community call also reported on new wallet functions about the possibility of introducing one’s own token. With Metamask, cross-blockchain transactions should be possible in the future. The integration of layer 2 scaling solutions directly into the wallet is also to be implemented. Metamask is an open source hot wallet, but it can do more than store ERC-20 tokens. Users can also use it to stake crypto tokens or access decentralized exchanges (DEX) such as Uniswap or Kucoin, Dapps and NFT.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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