MetaMask team is ready to work on its tokens
The team of one of the most popular software cryptocurrency wallets, MetaMask, has announced its readiness to work on its token. The developers announced this during a call with the community using the Crowdcast service.
As part of the call, the developers actively discussed their plans for the further development of the project. One of the points of the project's senior software engineer, Erik Marks, was that they were completely open to the idea of making the project “community-owned”. Including, integrating your token.
However, according to the programmer, to implement such an idea, they must be sure of the "usefulness" of the coin. Marks stated that to create a token, the use cases must be as convincing as possible, since they are not interested in creating a token that has no specific use, both inside and outside the MetaMask community.
The developers also voiced the fear that the project tokens could become a tool in the hands of the pump and dump lovers. According to Marks, the ICO will bring profit to the community anyway, since the token will simply be pumped up after launch. But, if many almost immediately "dump" it, along with this, its value will be "dumped" as well. Therefore, they are not sure if this model of the initial coin offering will work for them.
Since last summer, decentralized finance platforms such as 1Inch and Uniswap have distributed their tokens to users. For this reason, many MetaMask adherents expect a similar move from him. Of course, if the idea with its token is nevertheless implemented by the project developers.
The team said that they are actively studying the prospects for tokens and their distribution within the community, but at the moment they do not have a concrete plan. Therefore, we should hardly expect any news about the start of the airdrop. At least in the next six months.
With a user base of over five million monthly active users, MetaMask needs to consider carefully how they implement their potential token distribution to registered users.
In addition to the plans for the coin, the developers also shared the future functionality of the wallet. It will allow resources to be pooled across multiple chains and Layer 2 software solutions.