Thread by @CroissantEth

For the past few weeks, developers at Metamask have been hinting at a potential token

This would be the largest Ethereum wallet, with over 10,000,000 monthly users on their platform to drop a token

I believe it will be huge… Let’s discuss! 🦊

Consensys, the parent company behind the popular Ethereum wallet Metamask, reported growth over 1,800% for all of 2021

Metamask had just 545,080 users last year, but they now have an astounding 10,354,279+ monthly active users.

So… why would they need or want a token?

https://twitter.com/ethereumJoseph/status/1457834493469884418

Despite its massive success, it has never generated much revenue (up until recently)

Most of their business model ran on ads, and simply acting as an intermediary to the blockchain didn’t get them much flexibility

Ads also required questionable data surveilling to work.

According to developer Erik Marks, this all changed with the intro of Metamask swaps.

“because of how Web 3.0 works, we can create sustainable business models as wallets, without collecting your data, surveilling you, or otherwise ‘baking in’ hidden costs to you as a user”

The Metamask swaps feature rolled out about a year ago.

It serves as a dex aggregator, scanning prices across many sources to quote the best price, charging a 0.875% fee to let users swap straight from the wallet.

Since launching, Metamask swaps have been killing it.

In fact, Metamask has raked in a staggering $200M+ in fees from the swap feature.

Do you think it’s possible that this could be the catalyst for a revenue sharing token?

After all, Consensys has stated that they are aiming towards decentralization of multiple projects

During a recent community call, developers further legitimized this theory.

Metamask appears to be actively exploring a compelling use case for a native token. 👀

They are also facing significant pressure from Coinbase wallet, who now provides a browser extension, as pointed out by .@icebergy_

I am expecting an announcement from Metamask sooner on this, rather than later.

https://twitter.com/icebergy_/status/1457760028627251209

If rumors turn out to be true, I wouldn’t be surprised to see $MASK being one of the largest airdrops for DeFi users ever

Consensys has built up a long list of respectable backers, including names like Mastercard, JPMorgan, UBS, & more

This is the leading $ETH software company.

They also offer a suite of apps for larger investors to securely use, while meeting compliance requirements, called MetaMask Institutional.

Many investors with over $40B under custody have been integrated.

Soon, over 500 firms in crypto will be able to access DeFi through it

Lastly, Consensys owns a handful of extremely valuable projects to the $ETH ecosystem.

Infura, Quorum, Codefi, Metamask, and Diligence are products that serve tens of millions of users, support billions of queries on the blockchain, & handle billions of dollars in digital assets

All of this is why I am extremely confident in Metamask potentially being one of the biggest plays this year.

I highly suggest you try out their swap feature, to qualify for any potential airdrop, and I hope you enjoy this thread!

(I apologize in advance for the M word) 🥐