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MetaMask finally commits to token launch; sort of

In this post:

  • MetaMask may have a token launch in the future, as ETH’s co-founder and founder of Consensys, Joseph Lubin, says they have a short- and medium-term plan/strategy. 
  • The discussion came up while Lubin was addressing a post that clarified why the stock of the Ethereum version of MicroStrategy, Sharplink, took a beating recently. 
  • In the same conversation, Lubin revealed two of the protocols that will launch a token, certifying a launch from LINEA, and floating DIN as the next.

For ages now, members of the crypto community, especially those who got involved during the earlier days when MetaMask was by far the only viable wallet to access Ethereum services, have been expecting an airdrop from the company. 

Many have given up and moved on; some have even stopped using MetaMask on account of its many issues. Without any airdrop commitments, there was simply little incentive to keep using the platform.

However, there is now a glimmer of hope because Joseph Lubin, the founder of Metamask’s parent company Consensys, has hinted at a possible token launch in the future for its web3 protocols, and many hope its wallet service will be one of them.

Lubin’s comments renew community hopes

Sharplink Gaming (SBET), famously introduced as the Microstrategy of $ETH, tanked 75% overnight after a few crypto news sites and KOLs shared an SEC filing and claimed the whole cap table sold 100% of their shares.

This had investors spooked and resulted in the stock falling by about 75% in after-hours trading. Apparently, these people did not really dump their shares as the sites suggested, and Lubin was one of those who clarified the situation.

Lubin also engaged a thread from another user breaking down how users could take advantage of the fall. That was when someone charged Lubin to tokenize $SBET so it could be available for purchase on-chain.

In his response, Lubin sounded positive and hinted at the potential of $SBET and many more protocols getting tokenized. It was under that response that one user took the opportunity to ask about MetaMask getting an airdrop.

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“You’re probably so tired of this question, but will there every be a meta mask token?” The user asked. “Not a governance token, even a meme token would do. I can understand the difficulty of making it fair. Wallet age and consistency of use would be a great metric for an airdrop.”

In response, Lubin pointed out that there is a “short and medium term plan/strategy” in place that “involves protocolization of our current products and other initiatives.”

“And Web3 protocols need tokens,” he wrote before adding that the “first out of the gate” will be LINEA and that the tokens will all be “synergistic with one another.”

Lubin on the next protocol to get a token after LINEA

After Lubin revealed LINEA as the first protocol to get a token, some users started speculating on the next protocol to get a similar treatment. One user suggested it would be Infura, but Lubin chipped in to say the answer to the question is most likely the Decentralized Infrastructure Network (DIN).

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“DIN will probably be the next one. But don’t hold me to that,” he wrote.

Lubin described the Decentralized Infrastructure Network as an expansion of Infura, calling it a dial tone for the decentralized protocol ecosystem.

“Infura is working with many partners already from superscalers to niche service providers to enable them to respond to requests on DIN with acceptable and monitored performance, based on Infura standards,” Lubin wrote. “DIN is an important service for MetaMask to enable it to scale more rapidly to cover the entire decentralized protocol ecosystem, because Infura provides highest performance but only on a small set of protocols.”

Lubin believes DIN is game-changing and powerful because it can enable Web3 to broadly own its own infrastructure.

“Imagine if the Web1 and Web2 builders and users could own a tokenized implementation of TCP/IP and HTTP.  DIN will enable this community ownership of the deep infrastructure,” Lubin shared.

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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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