MetaMask Plans Onchain Rewards Program Tied to LINEA Tokens
MetaMask, the widely used Web3 wallet developed by Consensys, has revealed plans to launch an onchain rewards program in the coming weeks. The announcement was made on the platform X on Saturday and underscores MetaMasks aim to provide incentives to its user base.
Program Highlights
- The rewards initiative will feature referral bonuses, incentives in mUSD stablecoin, exclusive partner rewards, token access, and more.
- MetaMask stated it will distribute over $30 million in LINEA token rewards during the programs first season. LINEA is the native asset of Linea, an Ethereum Layer 2 network incubated by Consensys.
- The initial distribution of LINEA tokens included a 9.4 billion token airdrop.
According to MetaMask, longstanding users will receive special benefits in the upcoming program. The company emphasized that MetaMask Rewards will have a close connection with any potential future MetaMask token, commonly referred to as MASK.
Program Details
MetaMask has clarified that the rewards initiative is not meant as a traditional farming scheme but as a method of consistently rewarding its community. Details about regional participation restrictions and anti-Sybil measures have not been released. MetaMask has not responded to requests for comment at the time of writing.
Background on Related Tokens
- The MASK token, expected to be linked to the decentralization of the MetaMask platform, was confirmed by Consensys CEO and Ethereum co-founder Joseph Lubin in September 2023.
- MetaMasks mUSD stablecoin, issued by Stripe-owned Bridge, was introduced around the same period. mUSD is available on both Ethereum and Linea, with a current circulating supply of nearly $87.7 million. The stablecoin does not bear yield.
Community Response
The rewards program announcement sparked a range of responses on social media, with some users expressing skepticism. MetaMask reiterated its intention to build genuine community-engagement tools rather than focus on extraction or speculative activities.
Outlook
Further details on eligibility and distribution rules for the MetaMask Rewards program are expected closer to launch. The rollout will mark a significant milestone in the evolution of MetaMasks user incentives and its integration with the broader Consensys ecosystem.
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