Is MetaMask lastly launching a token? Ethereum co-founder and Consensys CEO Joe Lubin mentioned this week that the long-awaited token tied to the favored crypto pockets is “on the way in which” and “might come ahead of you’d count on”—and Myriad merchants are betting on simply how quickly which may imply.
On the time of this writing, a prediction market on Myriad Markets at present put the percentages of MetaMask launching an official token earlier than November 1 at about 32% Sure. No timeline has been introduced, however merchants do not seem to imagine that Consensys is able to roll out the token in a matter of weeks.
(Disclaimer: Consensys is one among 22 traders in an editorially impartial Decrypt, and Myriad Markets is a product of Decrypt‘s mother or father firm, DASTAN.)
Polymarket customers, in the meantime, give a 46% probability that the token will launch by the top of the yr.
Lubin made the newest feedback in an interview with The Block this week, explaining {that a} native token (nicknamed MASK) can be a part of MetaMask’s decentralization roadmap.
MetaMask was created by Consensys in 2016 as a part of its “mesh” of Ethereum-focused tasks, and it has remained one among its wholly owned merchandise ever since. When Consensys raised its Sequence D funding spherical in 2022 at a $7 billion valuation, MetaMask (and Infura) have been explicitly cited as core income drivers inside the corporate—not portfolio investments.
Consensys has been dangling the prospect of a token since 2021, when Lubin first confirmed it will be a part of a broader plan to decentralize the pockets’s governance. Over the following few years, Lubin repeated {that a} token was coming however careworn it wouldn’t be a fast cash-grab; the staff needed to keep away from a speculative frenzy and concentrate on “progressive decentralization.”
Within the meantime, MetaMask’s official channels even warned customers about rip-off airdrops, confirming no launch date had been set. Through the years, MetaMask rolled out staking and bridging options, whereas Consensys just lately launched the Linea layer-2 Ethereum community and LINEA token—strikes broadly seen as laying the groundwork for a token economic system.
MetaMask additionally simply launched a stablecoin referred to as mUSD, which gives some proof that infrastructure and regulatory groundwork are being laid. The stablecoin is dwell on Ethereum and Linea, suggesting they’re each making ready user-facing options and on-ramps for the token period.
What we nonetheless don’t know
Regardless of sturdy hints, a number of crucial particulars stay unclear:
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Timing: Lubin’s statements are obscure. “Earlier than anticipated” is subjective and doesn’t give a agency date. We don’t know if “sooner” means weeks, months, or simply “throughout the identical yr.”
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Tokenomics and utility: What precisely the token will do is just partially described. Governance? Rewards? Entry to options? There are solutions, however no full white paper or specs have been revealed.
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Distribution/qualification: Who will obtain the token? Will or not it’s retroactive, through airdrop, or earned by exercise? These particulars usually are not but public.
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Regulatory threat: Any token tied to a significant pockets with many U.S. customers will draw regulatory scrutiny. MetaMask and Consensys should navigate legal guidelines round securities, know-your-customer (KYC), token issuance, and what counts as utility vs. monetary return.
The takeaway
Placing this collectively, right here’s a wise wager: MetaMask is very prone to launch a token, and apparently sooner slightly than later. The existence of Myriad’s prediction market (“No” being extra probably earlier than November) reveals there’s cheap skepticism, however govt confirmations from Lubin push the chance considerably upward.
Disclaimer
The views and opinions expressed by the writer are for informational functions solely and don’t represent monetary, funding, or different recommendation.
