MetaMask is one of the most popular crypto wallets in the cryptocurrency ecosystem. This position means it cannot afford to upset its early adopters, as was the case with the recent leak about its rewards program.
MetaMask faces leak of its rewards program
In recent weeks, the development of the MetaMask crypto wallet seems to be taking a whole new direction, strongly supported by current developments in the cryptocurrency sector. Indeed, its future now involves a proprietary stablecoin, mUSD, as well as a native token, MASK, which no one dared to hope for.
These simultaneous announcements sparked obvious enthusiasm among its early users, some of whom have been active since its launch in 2016. However, a shadow quickly cast a pall over this picture over the weekend, following a leak of details about its rewards program, which is currently being finalized.
According to the information gathered, this program is mainly based on collecting points for swap, transfer, or bridge operations with the Linea layer 2, created by Consensys, the company behind MetaMask. The problem? No clear mention of rewards for its early adopters.
Is the MetaMask wallet sinking into airdrop farming? Absolutely not, according to its security manager on network X, Michael Khekoian, who is quickly trying to calm things down. He confirms the implementation of a reward program, with obvious consideration for the OGs, its “old guard” users.
Yes, MetaMask rewards are coming. Yes, we see the OGs, I’m one of them too. No, this is not a new farming scheme; when all the pieces of the puzzle are in place, the ecosystem we are preparing will blow everyone away.
Michael Khekoian
This is not a farming operation
Faced with the growing controversy on social media, the official MetaMask wallet account is also trying to set the record straight. According to its explanation, “the information you may have seen or heard so far does not reflect the reality of what is actually going to be launched.” In any case, “this is not a farming operation.”
This program will offer referral rewards, mUSD incentives, exclusive benefits with partners, access to tokens, and much more. It is one of the largest on-chain rewards programs ever created. In Season 1 of MetaMask Rewards alone, over $30 million in LINEA tokens will be distributed.
MetaMask
As for long-time MetaMask users, they will apparently enjoy “special benefits” as part of a MetaMask Rewards program that is said to be closely linked to its future MASK token.
This position was confirmed by Joseph Lubin himself, founder of Consensys, in response to what he describes as a leak of “initial, undeployed prototypes.”
According to his clarifications, even though this rewards program is primarily intended to promote the daily on-chain activity of MetaMask users, “long-time users will enjoy tangible benefits, not only through Season 1 of MetaMask Rewards, but also through the future TGE (Token Generation Event).” Stay tuned for more…
