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Metamask airdrop: ConsenSys MM, MASK token distribution timing, details in full

By Raphael Sanis

Edited by Charlie Mellor

12:09, 15 November 2022

MetaMask's fox logo on a gold coin
Airdrops.io speculated that investors will need to complete a swap using Metamask to be eligibile for the airdrop – Photo: Shutterstock

Interest surrounding a potential MetaMask token has started growing again, a year after it was confirmed by Joseph Lubin, founder of the parent company ConsenSys.

Anticipation for a new cryptocurrency has accompanied surging demand for decentralised wallets, like MetaMask, following the demise of crypto exchange FTX.

MetaMask competitor Trust Wallet has experienced a successful week with its TWT token up 100% in the past seven days. At the time of writing, it had made the most gains out of all the top 100 cryptocurrencies.

TWT to USD

Meanwhile, MetaMask has continued to develop its own platform. Its recent addition is an arbitrage bridge product that automates cross-chain transfers.

Metamask airdrop details

In response to speculation that MetaMask would not release a MM token, Lubin suggested on Twitter that a cryptocurrency was in the works.

He tweeted: “We are driving towards decentralisation of several of our projects. Wen $MASK? Stay tuned.”

The cryptocurrency community is now predicting a potential airdrop for the MASK token.

Airdrops.io said: “Rumour has it that making a swap on the platform would make you eligible for an airdrop once they create their own token.”

It also recommended bridging assets between different networks and to make swaps on all blockchains supported by MetaMask.

DOGE/USD

0.13 Price
-0.150% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

BTC/USD

65,745.55 Price
-0.100% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

SOL/USD

173.82 Price
-0.460% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

XRP/USD

0.60 Price
+0.190% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

Advice from community members on Twitter recommended interacting with ConsenSys’s other products. This included signing up to its blockchain API product Infura and donating to its grant platform Gitcoin. 

Its important for investors to remember that at the time of writing this is all speculation. The MASK token has not been confirmed, let alone an airdrop event. Investors should bear this in mind before participating in any potential airdrop criteria.

A new bridge product

As the bullish MetaMask community awaits more token details, the platform has launched a bridge aggregator.

MetaMask said in a statement: “Similar to how flight aggregators help you find the cheapest and/or fastest flight, MetaMask Bridges helps you find the cheapest and/or fastest route so you know you’re getting a good deal.”

The wallet has first released its beta version which supports up to $10,000 per transfer and supported tokens include ETH, DAI, MATIC and others.

It is currently only functioning four different blockchains: Ethereum (ETH), Avalanche (AVAX), BNB Chain (BNB) and Polygon (MATIC).

While this bridge has already launched, MetaMask has yet to release any details about a MASK cryptocurrency, including tokenomics or a potential release date.

ETH to USD

Markets in this article

TWT/USD
TWT/USD
1.02888 USD
-0.00413 -0.410%
AVAX/USD
Avalanche / USD
28.8312 USD
-1.47 -4.890%
BNB/USD
Binance Coin / USD
588.10 USD
0.17 +0.030%
ETH/USD
Ethereum / USD
3436.88 USD
-44.93 -1.290%
MATIC/USD
MATIC/USD
0.55037 USD
-0.00412 -0.770%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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