Consensys’ co-founder and CEO Joseph Lubin recently acknowledged the ongoing discussions about a MetaMask incentive reward. However, he clarified that the situation is not exactly as it is being interpreted by members of the community. The crypto boss set the record straight by explaining the true nature of the incentive initiative.
According to Lubin, the concepts of a MetaMask incentive reward were early prototypes and are yet to go live. At the same time, it is not possible to overlook the vision behind them, as it is very real. In the words of ConsenSys’s CEO, “it is all about building a token economy.”
“MetaMask is building the future of personal finance. We’re designing an experience that rewards people for how they already use MetaMask through meaningful incentives, perks, and referrals,” he added.
The distribution of the incentives has been categorized into phases, with the first being Season 1, when more than $30 million worth of tokens, including $LINEA, will be distributed in many forms to users. This is a reward for the onchain activity they participate in daily, especially for those users who have engaged with the protocol since its inception.
MetaMask sees this move as one that points towards a bigger evolution in the way it connects, empowers, and rewards its community. This will extend further to its Token Generation Event (TGE), which is scheduled for later. This may be a good time for enthusiasts who intend to join the MetaMask movement.
Lubin has been talking about the long-anticipated launch of the MetaMask token, MASK. Around mid-September, he claimed that the digital asset may arrive sooner than expected.
Already, the Ethereum-based Layer-2 network boasts its own stablecoin, MetaMask USD (mUSD), which is now live on the Ethereum mainnet and the Layer-2 network Linea.
Meanwhile, ConsenSys has been helping other projects build, in a bid to support mainstream crypto adoption. At the end of September, global financial messaging network Swift announced that it had partnered with ConsenSys to develop a blockchain-based shared ledger to handle cross-border transactions.
It also has 30 other major financial institutions on the project, including JPMorgan Chase, HSBC, and Deutsche Bank.
