Ожидание окончания: MetaMask готовит дебют токена MASK Translation: Waiting to End: MetaMask Prepares to Launch MASK Token

Co-founder of Ethereum and CEO of ConsenSys, Joseph Lubin, has announced that the Web3 wallet provider MetaMask is planning to launch a native token in the near future.

«The MASK token will be available soon—perhaps sooner than you expect right now. […] It is closely linked to the decentralization of certain aspects of the MetaMask platform,» Lubin stated during The Block’s podcast, The Crypto Beat.

He emphasized that the company supports developers’ ongoing efforts to enhance Ethereum’s decentralization. ConsenSys leverages the capabilities of MetaMask, Infura, and Linea to keep this principle at the core of the ecosystem.

MetaMask is set to introduce futures trading within the wallet through its integration with the decentralized exchange Hyperliquid, as mentioned by a developer known as abretonc7s on GitHub.

Many members of the crypto community have long been anticipating the release of a token from the most popular Web3 wallet. This idea dates back at least to 2021 when developer Eric Marks suggested the concept of «community ownership» through a native crypto asset.

In May, co-founder Dan Finley indicated that if a launch were to occur, it would be announced exclusively within the application—without any mass emails or social media posts. This approach aims to minimize the risks of fraud.

«You will be able to find the link directly in the wallet,» he emphasized.

Finley previously noted that a token launch has not yet been finalized. However, Lubin’s statements in the podcast suggest that the plan for releasing MASK is already in place and likely in the final stages of execution.

«With the launch of the token, we have the opportunity to do some quite significant things,» said the head of ConsenSys.

Earlier this month, the second-layer solution supported by the firm, Linea, launched its native token. During the TGE, over 9.36 billion LINEA tokens were distributed among eligible addresses.

Lubin emphasized that the company received only 15% of the LINEA tokens. The remainder was allocated to support developers, ensure liquidity, and stimulate activity within the Linea and Ethereum ecosystems, with a focus on community development.

Joseph Lubin commented on the current results of the Ethereum-focused company SharpLink Gaming, whose board of directors he chairs.

The market net asset value (mNAV) recently dropped below 1, indicating a discount relative to the volume of ETH on the firm’s balance sheet.

A similar trend is observed among other «treasury» companies, including The Ether Machine and the ETHZilla Foundation.

The formation of such a trend could undermine investor confidence and raise concerns about a potential «death spiral»—a scenario where a company’s stock sharply declines. In such cases, it becomes increasingly difficult for firms to attract capital, especially given their dependence on volatile crypto assets.

«Cyclical processes occur in the world. There are also long-term trends. […] When we see the price of Ethereum rising, we also observe this in SharpLink, as the value of Ether returns to historical highs… We will encounter a resurgence of speculative sentiment in the market,» commented Lubin.

Joseph Chalom, a senior executive at SharpLink who also participated in the podcast, noted that the fall of mNAV below 1 is a «temporary distortion.»

«You have a base asset—ETH, you can stake it and earn more than three percent yield… This income is revenue, and in the context of a public company in the medium to long term, this should create a multiplier,” he explained.

Chalom noted that if mNAV remains below 1, the company will continue to buy back securities while simultaneously seeking other ways to raise capital in the market, including issuing common stock.

«There are stock-linked and convertible offerings that attract significant investor interest, allowing for capital raising without diluting shareholders’ stake,» he added.

During the podcast, the executives suggested focusing on another metric—ETH per share. According to Chalom, this ratio has increased from 2 at the beginning of June to 3.95, which is a «very positive signal» for the market.

«More and more investors are beginning to understand: we will use our Ether. […] At some point in the distant future, we may borrow against it when it becomes a huge pile of highly liquid funds. We will stake it in significant protocols, providing liquidity to new and exciting services,» noted Lubin.

Thus, when SharpLink reaches a certain point that limits further purchases of Ethereum, the company intends to «significantly change» its strategy from accumulation to utilization of cryptocurrency.

Among corporate holders of Ethereum, the firm ranks second, holding approximately 838,150 ETH.

It’s worth mentioning that in August, MetaMask launched its own stablecoin, mUSD. Shortly thereafter, the developers integrated the ability to use «social login» for accessing the wallet via Google and Apple ID services.