30.08.2021 News

Metamask is launching its token?

MetaMask software wallet for cryptocurrency is considering making its own token. This idea was discussed on call with their community.

Senior Engineer Erik Marks believes that if introduced, the token must help manage the project and have real uses. The company is unsure about carrying out an ICO. Marks commented that an ICO could bring potential benefits to the community as token price would grow but expressed concern over potential pump and dump problems. Therefore, the team of developers could resort to an alternative method to bring their tokens to the market besides an ICO, circulating at the beginning some to members of their community.

MetaMask had been subject to several malicious attacks in the past. In a recent phishing scheme, scammers impersonated MetaMask tech support and stole clients’ private keys. The attackers had created an exact copy of the MetaMask extension and mimicked their website. Therefore, users should keep an eye out from phishing attacks and be cautious. 

MetaMask’s team has no definite plans to airdrop their token, but they are exploring this option. They might distribute tokens for free to the users who have tested their product. They did not disclose if the distribution will take place.

Tell us your impressions. Do you use the MetaMask wallet?

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