MetaMask Co-Founder Hints at Native Token Launch Amid Decentralization Push

MetaMask, a leading Ethereum wallet, has once again sparked interest in its potential token launch. In a recent podcast appearance, co-founder Dan Finlay hinted at the possibility of a native token, though no official launch has been confirmed. This news has reignited discussions about MetaMask's decentralization roadmap, which aims to gradually transfer power from the company to its community through mechanisms like Decentralized Autonomous Organizations (DAOs).

The idea of a MASK token has been in the works since 2021, with Consensys, MetaMask's parent company, discussing its implementation to promote progressive decentralization. However, the team has been cautious, especially given the current regulatory climate in the U.S. Joseph Lubin, Consensys CEO, has previously hinted at the MASK token's development, but the team continues to approach the matter with care.

Finlay emphasized that if the MASK token is ever launched, it will not be another airdrop frenzy. Instead, the focus will be on creating a safe and distributed ecosystem aligned with the long-term vision of the Ethereum community. This approach aims to avoid the pitfalls of scam tokens and airdrop farming practices that often exploit early community excitement without providing long-term value.

With over 30 million monthly active wallets, MetaMask is a frequent target for phishing attempts and fake token schemes. Finlay warned users to ignore any emails, text messages, or Telegram groups claiming to offer MASK tokens. He stressed that any official announcements regarding the token would appear directly within the MetaMask wallet to prevent scams. This policy is in line with recent moves by major DeFi platforms like Uniswap and Aave, which publish governance updates and token launches directly in-app to maintain transparency and security.

One of the major reasons for MetaMask’s delay in launching the MASK token is the uncertainty in U.S. crypto regulation. While Finlay acknowledged that a friendlier administration could reduce legal risks, he reiterated that securities laws apply regardless of who runs the Securities and Exchange Commission (SEC). Consensys has already taken steps to navigate this regulatory landscape by filing a lawsuit against the SEC over whether MetaMask’s wallet features classify as a broker-dealer function. A MASK token launch could add further complexity, hence the careful approach.

Despite regulatory hurdles, MetaMask remains the most-used Ethereum wallet globally. However, it now faces competition from new challengers like Rainbow, Rabby, and Frame, each offering cleaner user interfaces and native multichain support. Finlay noted that MetaMask’s internal priority is improving user experience (UX) and modularity, adding features like snaps that allow custom plugins for networks beyond Ethereum. These efforts may become more important if a token is used to incentivize developer contributions or governance in the future.