The Discussion for MetaMask's Altcoin Heats Up: Attention-Grabbing Statement from the Founder! - Coin Bulletin

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MetaMask co-founder Dan Finlay stated that the idea of a local token, which has been discussed for a long time, is still being evaluated and that if a token is issued, it will be announced directly from the wallet.

Dan Finlay, co-founder of MetaMask, one of the world’s most popular Ethereum wallets, made significant statements regarding the long-discussed MASK token. In an interview with The Block, Finlay expressed that the MetaMask team has not yet reached a clear decision but still keeps this idea on the table.

The parent company of MetaMask, Consensys, has long been planning to support its products through a token issuance in line with the strategy of “progressive decentralization” (progressive decentralization). Dan Finlay stated that it is possible to issue a token for MetaMask within this approach, saying, “If we ever issue a token, we will announce it directly within the MetaMask wallet. The link related to the token will be accessible from the wallet,”.

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(# Token claims and security concerns

MetaMask had previously brought the idea of a token called MASK to the public’s attention in 2021. This plan was also supported by the company’s CEO Joseph Lubin through tweets such as “Wen $MASK?”, but no concrete steps were taken afterward. Announcements made in 2022 indicated that the token was designed not for a “fundraising” purpose, but as a decentralized funding mechanism.

However, Finlay emphasized that despite the positive changes in the existing regulations, the token issuance processes are still in a “gray area” and clearly warned users against potential fraudulent activities:

Speculation is the worst part of this business because it allows scammers to target users. Announcements will be made only through our wallet, not from social media accounts or emails.

MetaMask is the world’s largest crypto wallet with approximately 30 million active users monthly as of 2024. Finlay stated that they continuously offer innovations to improve user experience and that competition has become quite fierce.