MetaMask Airdrop Guide: Simple Ways To Qualify For MASK
Discover how to enhance your eligibility for the potential MetaMask airdrop. Utilize built-in features like swapping, bridging, staking, and engage with Ethereum dApps. Potential high-value and utility token. Today, let’s learn about this interesting crypto airdrop 2023 topic about Metamask with Coincu.
What Is MetaMask?
MetaMask is a hot wallet that offers users the ability to store their account keys, interact with the blockchain, and connect with decentralized applications (dapps). In recent months, MetaMask has introduced several new features, including built-in swaps, a portfolio, a fiat on-ramp, a bridge aggregator, and even liquid staking services.
As a global community of developers and designers, MetaMask is committed to leveraging blockchain technology to create a better world. Their mission is to democratize access to the decentralized web and transform the internet and global economy, empowering individuals through interactions based on consent, privacy, and free association.
MetaMask collaborates with their talented colleagues in the wider Consensys product family to build a more fair, free, and decentralized internet-based economy for everyone.
Check out our Starknet Airdrop Guide article for another highly anticipated token airdrop.
Will MetaMask Have an Airdrop?
Consensys founder Joe Lubin has confirmed the release of a native token for MetaMask, a popular cryptocurrency wallet. Users can potentially qualify for a MetaMask airdrop by engaging with various features offered by the wallet such as depositing, purchasing, swapping tokens, and utilizing the wallet’s bridging and liquid staking capabilities.
Rumors are circulating about a significant airdrop from MetaMask, following the confirmation of their upcoming token called $MASK. Trust Wallet, a similar platform to MetaMask, conducted a large-scale airdrop of millions of Trust Wallet Tokens (TWT) to its users in 2020. The company ConsenSys, which raised a significant amount of $725 million, is financially capable of rewarding its early users.
While the possibility of another airdrop has not been confirmed, users are actively attempting to qualify. If Trust Wallet were to launch another airdrop, it has the potential to become one of the largest airdrops in 2023 or 2024.
With over 30 million active monthly users, MetaMask is one of the most widely used wallets in the crypto space. Consensys CEO Joe Lubin had teased the release of the native token MASK for MetaMask in November 2021, leading to speculation among investors about an airdrop. In March 2022, Lubin confirmed MetaMask’s intention to launch its own token and establish a Decentralized Autonomous Organization (DAO) to pursue progressive decentralization.
Lubin mentioned that the DAO aims to introduce community ownership. While there is no confirmation that the token will be airdropped at launch, Lubin’s statement has sparked speculation about a potential airdrop.
Jacobc.eth, the lead of operations at MetaMask, emphasized in an interview that MetaMask is taking precautions to ensure that the token launch is not perceived as a “cash grab.” Preventive measures will be implemented against “airdrop farmers,” as the token’s goal is to provide governance.
Interestingly, Consensys, as an Ethereum-focused company and the owner of MetaMask, may prioritize projects that benefit the Ethereum ecosystem in the airdrop. This may include transactions from the Ethereum mainnet and Layer 2 projects like Arbitrum and Optimism.
MetaMask Airdrop Guide
Airdrops are typically given to users who are actively engaged and loyal to the projects. Simply using MetaMask to store cryptocurrencies may not be sufficient. To improve your chances, make use of MetaMask’s built-in features such as swapping, bridging, staking, and more. Additionally, conducting multiple transactions and regularly using the wallet can further increase your eligibility for receiving an airdrop.
1. MetaMask Airdrop: Getting Started
To get started, you have two options. You can deposit tokens by sending them to your wallet address, or you can purchase ETH directly from MetaMask. If you choose to purchase tokens from MetaMask, you have the convenience of using credit and debit cards, Apple Pay, and bank transfers.
Now, let’s explore specific methods to enhance your chances of receiving an airdrop.
2. MetaMask Airdrop: Use The Swap Feature
To increase your chances of receiving an airdrop, you can utilize MetaMask’s swap feature. Simply navigate to your extension and click on ‘Swap’. Choose the token or coin you wish to swap and confirm the transaction by selecting ‘swap’.
It is important to note that MetaMask’s swap feature acts as an aggregator and incurs a fee of 0.875% for each transaction.
Additionally, it is possible that one of the criteria for the airdrop may involve the volume of your transactions. Therefore, it is advisable to engage in a few swaps. It is recommended to do this on a weekly or monthly basis as the airdrop criteria may require transactions to be conducted over several distinct months.
3. MetaMask Airdrop: Use The Bridge Feature
The MetaMask bridge is a built-in feature that enables the transfer of tokens between different blockchains. Currently, the supported blockchains for bridging are Ethereum Mainnet, Polygon, Arbitrum, BNB Chain, Optimism, and Avalanche. It is recommended to perform multiple transactions to increase eligibility.
To utilize the bridge feature, access your MetaMask extension and select ‘Bridge’, which will direct you to a new page.
Once on the bridge page, start by choosing the destination chain and token for the bridge. MetaMask will automatically select the most cost-effective fee for you.
Another potential requirement for the MetaMask airdrop could be specific amounts that need to be bridged. Depending on your preference, it might be beneficial to perform multiple swaps with larger amounts to increase the chances of meeting the criteria. However, it’s essential to consider the potential cost, and keep in mind that the airdrop is currently speculative.
4. MetaMask Airdrop: Engage with the Ethereum DApps
After depositing your tokens, you can also engage with decentralized applications (dApps) on different networks. The concept is to utilize your MetaMask wallet for conducting transactions such as token swapping, staking, yield farming, lending, and even purchasing NFTs. Remember to connect your MetaMask wallet to the respective dApp.
For instance, on the Ethereum chain, you have the opportunity to interact with popular dApps like Uniswap, SushiSwap, and OpenSea. Uniswap, a decentralized exchange (DEX), enables users to swap their ERC-20 tokens. On the other hand, SushiSwap is also a DEX but offers additional features such as yield farming and staking.
By participating in on-chain activities such as depositing funds, trading assets, swapping ERC-20 tokens, and providing liquidity, you may enter the snapshot and potentially qualify for the event. These activities can be performed on platforms including:
- Aave: A platform for earning interest on asset supply and borrowing, as well as establishing non-custodial liquidity markets.
- SushiSwap: A decentralized platform for swapping, stacking, lending, borrowing, leveraging, earning, and performing yield farming.
- Uniswap: A financial marketplace and an emerging network of decentralized finance (DeFi) applications.
- Balancer: A platform that utilizes applications, integrations, pools, and incentives to build DeFi liquidity.
- Curve: A decentralized exchange that facilitates trading pairs for stablecoins and more.
5. MetaMask Airdrop: Use Liquid Staking Feature
MetaMask now offers a new built-in staking feature in collaboration with third-party platforms, Lido and Rocket Pool. To make the most of this opportunity, it is advisable to stake when ETH gas fees are at their lowest. Currently, there is no minimum requirement for staking through Lido, while Rocket Pool has a minimum of 0.1 ETH.
To utilize the liquid staking feature, open your MetaMask extension and navigate to the ‘Portfolio’ section, which will direct you to a new page.
Next, click on the ‘Stake’ option located on the left side of the screen. Since this feature is still in its beta stage, there are only two available staking providers: Lido and Rocket Pool.
The staking provider offering the highest rewards will be automatically selected for you. If you prefer to switch to the alternative provider, simply click on their option.
Once you have chosen a provider, enter the desired amount of ETH you wish to stake. This will display an estimated staking reward. If you are satisfied with the rates, confirm the transaction, and your staking process will be complete.
Potential MetaMask Airdrop Details
There has been no official confirmation about the $MASK token airdrop yet. However, the announcement of the MetaMask airdrop plan to launch a native token has led investors to speculate that the airdrop may happen sometime this year.
MetaMask is moving towards progressive decentralization, which suggests that an airdrop could be on the horizon. In the crypto industry, progressive decentralization refers to the process where a project starts off centralized, controlled by its founding team, and gradually transitions control to the community, aiming for decentralization.
MetaMask is expected to develop a protocol that will be owned by the community, and their airdrop strategy aims to gain support for their initiatives and future actions.
Although nothing is certain, there are some details worth noting about the potential $MASK airdrop:
- LIKELIHOOD: Last year, ConsenSys, the parent company of MetaMask, achieved a valuation of $7 billion after a $450 million Series D raise, suggesting that they may distribute a substantial amount of tokens during the MetaMask airdrop.
- TOKEN ALLOCATION: The exact token allocation remains undisclosed.
- TOKEN VALUE & UTILITY: The $MASK token is expected to have a significantly high value and utility.
Conclusion – MetaMask and the Potential Airdrop
In conclusion, MetaMask is a popular hot wallet that offers users various features such as storing account keys, interacting with the blockchain, and connecting with decentralized applications. With the announcement of their plan to release a native token called $MASK, there has been speculation about a potential airdrop for MetaMask users.
While there is no official confirmation yet, engaging with MetaMask’s built-in features such as swapping, bridging, staking, and actively using the wallet may increase eligibility for a potential airdrop. The exact details of the airdrop, including token allocation and value, remain undisclosed. As MetaMask moves towards progressive decentralization and aims to involve the community through their token launch, the potential airdrop holds exciting possibilities for users.