Ethereum wallet MetaMask announced that it has moved from its open-source code to a new license after problems with receiving fair compensation for the maintenance of its community.
MetaMask made this known via a blog post, noting it has acted as a browser extension to enable more than 4 million individuals to connect to Ethereum with a permissive MIT license but cannot compete with other products due to poor or no compensation.
The Ethereum wallet noted that in order to compete with products that exist it was going to change its approach and setup new parameters on how developers can distribute versions of MetaMask and also be compensated.
Notably, MetaMask’s code was initially launched under a permissive MIT license, which allows developers to fork and reuse its code with little limitations.
However, the new license is aimed at increasing revenue as well as commercial value for the ethereum wallet. Meaning commercial entities would no longer be able to use its software for free.
MetaMask not making drastic changes
According to MetaMask’s head of product Jacob Cantele, the ethereum wallet is not making any drastic changes and only larger players on the network will be affected by the new changes.
He noted that MetaMask will remain fully free to users, will continue to provide its code for inspection and auditing for both non-profit organizations and developers of apps with fewer than 10,000 monthly commercial users.
Cantele emphasis that the ethereum wallet was free and some developers can still copy, modify, and distribute versions of MetaMask.
New way to earn interest from crypto apps
Recently Wyre a partner of MetaMask, as well as MakerDAO, Compound, Coinlist, and OpenSea disclosed a new way for users to earn interest on Bitcoin, Ethereum from crypto apps.
According to the platform, Wyre Savings API, which makes it possible to establish a savings sub-wallet within your main Wyre wallet within partners’ apps, would enable users to earn interest on cryptocurrency after they successfully deposit into the sub-wallet and begin can begin earning interest on the funds.
Notably, Wyre Savings API supports Bitcoin, Ethereum, DAI, and USDC, with the company working with both centralized and decentralized finance (DeFi) partners to deliver the best possible interest rates.