"Firefly Token Aims to Rewrite Web3 Social Ownership Rules"

Firefly, a decentralized social protocol previously operated under Mask Network’s MaskDAO, is preparing to launch its native token, signaling a major development in the evolving landscape of Web3 social networking. The protocol spun off from Mask Network in February 2025, and since then, it has been working to establish itself as an independent entity focused on enhancing user engagement and bridging the economic models of Web2 and Web3 platforms. Prominent KOL announcements on September 6, 2025, confirmed the upcoming token release, underscoring its strategic importance in decentralizing social interactions and expanding the financial tools available to creators and users [1].

The token is expected to play a pivotal role in Firefly’s mission to advance decentralized social protocols. By introducing a native token, Firefly aims to enable more robust creator monetization, enhance governance structures, and foster cross-chain interoperability. The project emphasizes innovation and scalability, with a focus on integrating decentralized finance (DeFi) mechanisms and improving the user experience on Layer 2 environments. The launch is also anticipated to influence the broader Ethereum and MASK token ecosystems, as Firefly seeks to introduce new utilities and governance models to its platform [1].

Firefly’s separation from Mask Network has allowed it greater flexibility in pursuing advancements in social networking, according to statements attributed to the Mask Network Twitter account. The team highlights that this independence has enabled them to “push the edge in Web3 social innovation,” particularly in areas such as protocol-level governance and cross-platform interactions. Analysts in the DeFi and social protocol communities have expressed notable interest in these developments, with many anticipating a shift in how social networks handle user ownership and data privacy [1].

The token launch is viewed as a critical milestone in the evolution of decentralized social networks, drawing comparisons to the release of the Lens Protocol in 2024, which significantly accelerated the adoption of social aggregation in the Web3 community. According to CoinMarketCap, Mask Network’s native token, MASK, was trading at $1.22 as of September 6, 2025, with a market capitalization of $122.08 million. The token experienced a 36.72% decline in 24-hour trading volumes and a 32.14% drop in value over the past 90 days, reflecting the ongoing volatility in the space [1].

Firefly’s potential to redefine user engagement and financial interactions within Web3 social platforms has not gone unnoticed. The Coincu research team noted that the token launch could reshape industry standards by promoting user ownership and privacy—key drivers of broader Web3 adoption. However, as with all emerging protocols, regulatory responses could play a significant role in shaping the future trajectory of user-controlled social networks [1].

Source: [1] Firefly Token Launch: Mask Network’s Spinoff Aims to Redefine Web3 Social (https://coincu.com/news/firefly-token-launch-mask-network/)