MetaMask Confirms Token, Airdrop SZN Incoming

MetaMask Confirms Token, Airdrop SZN Incoming

MetaMask Confirms Token, Airdrop SZN Incoming

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s top news:

  • Crypto majors retreat after post-FOMC rally; BTC -1% at $116,300

  • Joe Lubin confirms MetaMask token coming “very soon”

  • Plasma sets mainnet debut & XPL token TGE for Sept 25

  • Pump Fun crosses $100M in PUMP buybacks (tho PUMP falls 7%)

  • Kevin Durant regains access to Coinbase wallet lost in 2016 when BTC was $600

Everyone loves yelling “wen token?”

Well the answer for several major protocols is now “soon.”

Yesterday, co-founder of Consensys Joe Lubin confirmed that a MetaMask token is coming “very soon.”

We don’t know any other details beyond that, and betting markets have the MASK token coming in September at just 3%.

So, it’s probably not next week.

But up until now, there was no formal confirmation a token would ever come. Now that has changed.

And add it to the growing list of major protocols dropping tokens sometime soon:

  • OpenSea just moved into the “final phase” of its pre-TGE rewards program and told users to expect token details in early October.

  • On the L2 front, Base finally said the quiet part out loud: Jesse Pollak told reporters the network is exploring a native token, with plans still early.

  • Pump Fun is slightly different from the rest with its PUMP token live for trading, but no airdrop…yet. The PUMP airdrop is expected in Q4 2024 (47% by end of 2025).

  • Meteora materials point to an October TGE for MET.

  • Finally, Polymarket token chatter is back in force alongside reports of a financing round that could value the company as high as $10B.

Airdrop SZN is truly coming.

“One thing to think about with the MetaMask and Opensea token is that there are a lot of graveyard wallets that have not been onchain in a long time. Depending on how they structure the airdrop, you potentially see a lot of dead wallets forced onchain to claim.” – Threadguy

This one is pretty easy to explain – we like free money.

Free money is good for the crypto ecosystem.

Airdrops from protocols like MetaMask and OpenSea have long been written off by most users. Now they’re actually incoming, likely in the next 3-6 months.

Not to mention big money coming in the Solana eco in the very near future, courtesy of Meteora and Pump Fun. (And Polymarket is just a fun surprise).

So what does it mean?