MetaMask, the leading Ethereum wallet developed by ConsenSys, is still considering the launch of their native token.

This discourse has been ongoing since 2021 and continues to gain attention due to the huge potential it has in the crypto ecosystem.

In the heart of Jakarta, Pintu News continues to provide the best and latest information about crypto. Today, we’re diving into an update on MetaMask’s token.

The renowned Ethereum wallet, developed by ConsenSys, is still considering launching their native token, despite rumors that began in 2021.

Despite rumors of the token, named MASK, began circulating as early as 2021, MetaMask has repeatedly stated that any official announcements regarding a token launch will be made directly through their main channels.

During a developer call in 2021, MetaMask engineer Erik Marks touched upon the possibility of introducing a token to support the development of the wallet further. The token is envisioned as a way to provide ownership to the community, rather than being focused on financial speculation.

ConsenSys CEO Joseph Lubin has also hinted at this idea on Twitter, discussing the potential for a DAO (Decentralized Autonomous Organization) associated with the token.

One of the main concerns expressed by Dan Finlay, co-founder of MetaMask, is the security risks associated with token speculation. Finlay highlighted that fake announcements about tokens have become a popular phishing vector.

Due to the potential for fraud, MetaMask is very careful in communicating their plans.

“We are not announcing any new tokens today. We are focused on building the best possible products for our users,” said Finlay.

Finlay also noted that any legitimate token releases will be announced directly through the MetaMask wallet interface and their main website. This is an important step to ensure that users are not fooled by fake tokens that may be circulating in the market.

Multi-chain Integration and Product Renewal

Besides discussing tokens, MetaMask has also been busy integrating new chains into their wallet. Back in February, they announced integration plans with Bitcoin Solana network.

Solana network becomes the first blockchain outside the Ethereum Virtual Machine (EVM) ecosystem to be supported by MetaMask. Meanwhile, support for Bitcoin is scheduled to launch in the third quarter of this year.

This move is part of MetaMask’s efforts to expand access for users unfamiliar with crypto, as well as to remain competitive in the digital wallet market.

After a period of rapid growth in the decentralized finance (DeFi) sector, interest has shifted to multi-chain compatibility in the cryptocurrency sector.

As one of the leading Web3 wallets, MetaMask is actively working to adjust to this changing landscape.