- MetaMask does not have any immediate plans to launch a token, according to developer Eric Marks
- However, Marks said that the project is open to the idea of launching a token
- Before we’re going to see a MetaMask token, the team would have to come up with a compelling and beneficial use-case
MetaMask is open to the idea of launching a token
MetaMask is one of the most popular crypto applications out there – it’s the most popular way to interact with decentralized applications on Ethereum, and is also one of the most commonly used Ethereum wallets. In April, the team announced that it reached 5 million monthly active users, a very impressive milestone for a cryptocurrency wallet.
Almost every decentralized application that people are using today comes with its own token, which is typically positioned somewhere on the utility-governance spectrum – Uniswap’s UNI, Maker’s MKR, and Aave’s AAVE are just a few examples. And while MetaMask is not exactly a DApp, it isn’t much of a surprise that many people in the cryptocurrency community are wondering whether the project is planning to launch a token of their own.
The first MetaMask Developer Community Call took place on August 26, and was primarily focused on Layer 2 scaling solutions and custom networks. However, the topic of a potential MetaMask token was also brought up during a Q&A session towards the end of the call. The question was answered by MetaMask developer Eric Marks, who said that MetaMask does not currently have immediate plans to launch a token.
“We do not have any immediate plans for a token. When we do, you’re not going to miss or wonder if we have plans for a token. So like, you will see, it will be obvious. Everybody will be tweeting about it, and we will be tweeting about it.”
Despite this, Marks said that MetaMask is open to the idea of launching a token. Before that deicision is made, however, the team would need to come up with a compelling use-case, as Marks said that MetaMask doesn’t want to do an ICO just for the sake of it.
“We are absolutely open to the idea, but we don’t want to just do an ICO for a token that doesn’t have a use-case, so we really want the use-case to be compelling and we want it to really benefit the MetaMask community.”
Marks also explained that if MetaMask decided to launch the token, they would like to avoid a scenario where the token’s price would surge upon release and then “dump” afterwards.
“So obviously, if we just did an ICO airdrop, it probably would benefit the community, or some of the community, because it would immediately pump, and some people would sell it, and then it would dump. That’s not really what we want to do.”