Popular Ethereum wallet MetaMask will launch its own DAO and token in the future, but is there any information about when the release date could be?
MetaMask sees the DAO as the next step in facilitating the growth of the platform. The DAO governance model will accelerate the funding process of MetaMask.
Similarly, the MetaMask token, will also launch to accelerate the platform's popularity and social positioning. Here's a look at what it's all about.
MetaMask Token and DAO Release Date
The MetaMask token release date is yet to be confirmed, with information about both the token and DAO only coming to light in the last month.
We know that both projects remain in development, with more details expected in the coming months.However a fixed date is yet to be announced by the platform.
Until then, it's likely some users will run into tokens claiming to be the fabled MASK tokens, as it is rife for scamming opportunities, similar to the latest OpenSea token scam which compelled the platform to issue advisories cautioning user against such rampant scams.
- Read More: How To Add Custom Tokens To MetaMask
What is the MetaMask DAO and Token?
ConsenSys CEO Joseph Lubin was among the first to reveal MetaMask will soon have its independent DAO and token.
In an interview with Decrypt, ConsenSys CEO Joseph Lubin added that MetaMask is pursuing "progressive decentralization" and that it intends to become a key player in the emerging web3 domain.
As part of its expansion plan, MetaMask will soon be launching DAO to bolster the funding of the platform.
The MetaMask DAO will act as a funding mechanism for the platform and will not impose any governance obligations. Lubin said:
There is a DAO that is being formed right now in the context of MetaMask…. It won’t govern MetaMask, but it will enable the creation of novel new pieces of MetaMask to be funded.
In addition to this, the crypto wallet will also be launching its crypto market. Some early adopters of the wallet are expecting the news of the new token being airdropped. However, essential details concerning the token are yet to be disclosed by the MetaMask team.