MetaMask, one of the most popular software cryptocurrency wallets, has announced that it is ready to begin work on its token. The developers announced a Crowdcast call with the community.
During the call, the developers actively discussed their plans for the project’s future development. Erik Marks, the project’s senior software engineer, stated that they were completely open to the idea of making the project community-owned. Including the incorporation of your token.
However, according to the programmer, to implement such an idea, they must be certain of the coin’s “utility.” Marks stated that to create a token; the use cases must be as convincing as possible, as they are not interested in creating a token with no specific use, both within and outside of the MetaMask community.
The developers also expressed concern that the project tokens could become a tool in the hands of pump and dump enthusiasts. According to Marks, the ICO will benefit the community in any case because the token will be pumped up after launch. However, if many people “dump” it almost immediately, its value will be “dumped” as well. As a result, they are unsure whether this model of initial coin offering will work for them.
Decentralized finance platforms such as 1Inch and Uniswap have been distributing tokens to users since last summer. As a result, many MetaMask supporters anticipate a similar move from him. But, of course, if the project developers do implement the idea with its token.
The team stated that they are actively researching the prospects for tokens and their distribution within the community, but they do not have a concrete plan at this time. As a result, we shouldn’t expect to hear anything about the start of the airdrop. At the very least, within the next six months.
With over five million monthly active users, MetaMask must carefully consider implementing their potential token distribution to registered users.
In addition to the coin’s plans, the developers revealed the wallet’s future functionality. It will enable the pooling of resources across multiple chains and Layer 2 software solutions.