MetaMask Wallet Says The Token Launch Won’t Be “Cash Grab”

The Ethereum MetaMask wallet says the new token launch project won’t be a “cash grab” according to the lead of operations who said the project won’t put itself into jeopardy as regulators put the governance into the hands of “Airdrop farmers” so let’s read more in today’s Ethereum news.

Metamask is the most popular Ethereum wallet according to the numbers by monthly average users and unlike some other Web3 projects, it has yet to tokenize the protocol. Every major Web3 project has been getting bombarded with some questions like “Wen token” and the token drops from platforms like Uniswap and Ethereum Name Service turned platform users into part-owners with lucrative assets to their name.
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MetaMask is the largest ethereum wallet with more than 30 million monthly users who resisted the siren call. The MetaMask lead of operations Jacob Cantele noted:

“We believe really deeply in progressive decentralization and doing it over time and doing it in ways that are meaningful—and doing it in ways that are not a cash grab.”

Cantele said that the token will be an important aspect of being owned by the community and it is looking to temper the expectations around what can happen and what it will mean for people’s pocketbooks:

“It’s not something that we’re going to wing and it’s also not something where we’re going to put our project in jeopardy of either regulator or give governance to ‘airdrop farmers’ or something like that.”

Most projects are centralized and most centralized ventures with a core team shepherding the protocol until it gains traction. And once people use the product, the team can choose the hand-off responsibilities to users in return for compensation via a governance token, and the token is used to vote on protocol changes and decisions about the treasury allocations. For example, Uniswap had one of the earliest token drops for a Web3 token when back in September it gave out 400 UNI tokens to anyone that used the protocol at the time, UNI was trading for $3 and in May 2021, it hit an all-time high with the protocol and this means that anyone had ever swapped ETH for an ETH-based token on the DEX. And to empower the entire crypto ecosystem you to have yo start with the wallet used to hold the crypto assets as Cantele said:

“It’s important that this wallet be owned by all of us.”