Speculation around a potential MetaMask token gained momentum this week after a password-protected website, claim.metamask.io, appeared online. The link, which surfaced Monday, prompted traders on prediction market Polymarket to raise the odds of a token launch this year to 35%. It remains unclear whether the site is officially connected to MetaMask or its parent company, Consensys. The page uses a Vercel Authenticator, a standard way to conceal internal or staging environments, leaving open whether it represents a legitimate portal or a test page unrelated to a live token launch. MetaMask, the largest Ethereum-focused wallet, has long been expected to issue a native token. The project is incubated by Consensys, the blockchain software firm founded by Ethereum co-creator Joe Lubin. In mid-September, Lubin told The Block that a MASK token could “come sooner than you would expect,” describing it as a step toward decentralizing the MetaMask ecosystem.
Investor Takeaway
MetaMask’s Loyalty Program and Product Roadmap
While Consensys has not confirmed any token details, MetaMask’s product roadmap has increasingly referenced reward-based initiatives. In comments to The Block, Christian Montoya, MetaMask’s director of product, said the wallet is rolling out a new loyalty program distributing about $30 million in rewards during its initial phase. Users will earn points for trading and referrals, with plans to expand the program to cover products such as MetaMask Card and mUSD, the wallet’s recently launched native stablecoin. Montoya did not specify whether loyalty points would convert into tokens, but analysts said the system could create a user base already primed for a token distribution if MetaMask proceeds with a launch.
Consensys, Decentralization and Caution Around Scams
MetaMask co-founder Dan Finlay previously said that if a token were to launch, users would see it directly in the wallet rather than through third-party websites or social media posts. “You will not have to find some account on social media giving you a link,” Finlay told The Block in May. “It won’t be a text message. We don’t have your phone number. It won’t be an email. We don’t have your email address. It will be in the wallet. It’ll be on our main website.” Finlay’s remarks followed a wave of phishing scams in 2023 that exploited rumors of a MetaMask airdrop to lure users to fake claim sites. His warning, reiterated this year, suggests Consensys is sensitive to the risk that renewed speculation could expose users to similar schemes. The concept of a MetaMask token dates back to at least 2021, when MetaMask engineer Erik Marks proposed issuing a governance token to strengthen community ownership, mirroring other decentralized projects. Lubin later echoed the idea as part of Consensys’ broader effort to expand participation in its wallet ecosystem.
Investor Takeaway
Awaiting Confirmation
As of Tuesday, neither MetaMask nor Consensys had publicly commented on the claim website. The Block said it reached out to both teams for verification and would update its report when confirmation arrives. The episode has nevertheless reignited one of crypto’s longest-running storylines — the prospect of MetaMask following Uniswap and Optimism in issuing a governance or utility token tied to wallet activity. For now, the MASK token remains unconfirmed. But with growing speculation, an active loyalty program, and comments from Consensys leadership suggesting readiness, the odds of a 2025 release may continue to rise on prediction markets and across Ethereum’s developer community.