MetaMask's upcoming rewards program will distribute $30 million in LINEA during first season
Quick Take
- MetaMask revealed details of its upcoming rewards program on X Saturday, saying it will be “one of the largest onchain rewards programs ever built,” and teasing over $30 million in LINEA rewards during its first “season.”
- The rewards will have “meaningful connections” to the forthcoming MetaMask token, according to the popular wallet app’s team.
- Linea is an Ethereum Layer 2 network incubated by Consensys, which created MetaMask.
MetaMask, the popular Web3 wallet created by Consensys, will roll out an onchain rewards program "in the next couple of weeks," MetaMask announced on X Saturday.
The program "will yield referral rewards, mUSD incentives, exclusive partner rewards, access to tokens, and more," MetaMask said, and will distribute "over $30M in LINEA token rewards" during its first season. LINEA is the native token of Linea, an Ethereum Layer 2 network also incubated by Consensys, and was launched in September with a 9.4 billion token airdrop.
"Long-time MetaMask users will not be ignored - they'll be given special benefits, and MetaMask Rewards will have meaningful connections with the future MetaMask token," MetaMask wrote in its announcement. MetaMask also said the program is "not a farming play" and represents "a genuine method of regularly giving back to our community."
It is unclear whether users in certain jurisdictions will be restricted from participating in the program, and if MetaMask will enact any anti-Sybil measures. The Block could not immediately reach MetaMask for comment.
MetaMask's planned MASK token was announced by Ethereum co-founder and Consensys CEO Joseph Lubin in mid-September. Lubin said on The Block's "The Crypto Beat" podcast that the MASK token "is significantly related to the decentralization of certain aspects of the MetaMask platform."
MetaMask's mUSD stablecoin went live around the same time, issued by Stripe-owned firm Bridge. The token currently has a circulating supply of $87.7 million, according to the token's website. The token was launched on Ethereum and Linea and is not yield-bearing.
MetaMask's announcement was met with criticism by some X users. "[T]his will go over well and no one will be disgusted and insult you," crypto streamer "Gainzy" wrote in one sarcastic response.
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