Joe Lubin: the MetaMask token ($MASK) is coming

Joe Lubin, CEO of Consensys and co-founder of Ethereum, reiterated in an interview with The Block “The MASK token is coming”. Currently, there is no official date nor confirmation on a potential airdrop, and formal communications are still awaited.

The key point is the push towards decentralization of certain MetaMask functions, to align the wallet’s governance with the open nature of the Ethereum ecosystem. In this context, the choice to distribute control more broadly is considered part of a larger path; details on distribution mechanics, timing, and requirements remain unconfirmed.

What Lubin said and why it is relevant

Lubin linked the token launch to the need to distribute control over key elements of the wallet, thus establishing an important step towards more decentralized governance. “The MASK token is coming… it may come sooner than you would expect,” stated the executive. It should be noted that the anticipation brings MetaMask back to the forefront, a key tool for accessing dApps, DeFi, and NFT, while the timing is still being defined.

MetaMask Today: Numbers, Features, and Context

According to data collected from public sources and analyses conducted by our editorial team, MetaMask surpassed 30 million monthly active users in September 2025, a threshold that confirms the wallet’s central role in the Web3 ecosystem. 

Industry analysts note that the introduction of on-ramp features and integration with traditional payment services tend to increase the average usage per user, promoting retention and recurring transactions. In practical market observation, partnership events and functional updates have often preceded phases of increased activity on the platform.

MetaMask is one of the most used wallets on Ethereum, with historical estimates indicating over 30 million monthly active users, as reported in previous analyses. In recent months, the wallet has integrated features aimed at daily use, including payment solutions and on-ramp tools, consolidating the user experience without overhauling its structure.

Furthermore, the recent initiative to launch a crypto debit card, created in collaboration with Mastercard and Baanx, aims to connect the management of digital assets to daily transactions. Indeed, these developments strengthen the hypothesis that the token could have internal utility, particularly for governance functions and as an incentive for platform use.

Timeline: what is known and what remains open

• Confirmed: the intention to launch the MetaMask token, as highlighted in Lubin’s recent statements.
• Unconfirmed: launch date, distribution method, final ticker, and circulating supply.
• Market rumor: some sources suggest a possible launch window between the end of the year and the beginning of the next, but without official evidence.

In the absence of formal announcements, each time window remains purely speculative. That said, the definition of technical and operational aspects will likely be the decisive step.

Distribution: possible criteria and models

Although Lubin did not delve into the allocation mechanism, based on industry precedents, several scenarios are hypothesized: a targeted airdrop aimed at the most active users (based on wallet usage, swaps, and interactions with native functions), specific allocations for developers, contributors, and partners, or possible geographical limitations for compliance reasons. 

Such hypotheses remain, however, pending an official statement, and any further details will need to be corroborated by primary communications. 

Regulation: the nodes between MiCA, SEC, and KYC

The regulatory framework for cryptocurrencies is constantly evolving. In the European context, the Regulation (EU) 2023/1114 (MiCA) has already come into force and provides specific requirements for issuers and service providers, which may affect both distribution and information methods. In the USA, however, the uncertainty regarding the scope of “securities” continues to influence design choices and eligible jurisdictions, with the possibility that some areas may require KYC/AML procedures to receive or transfer the token.

In this context, greater transparency is expected regarding supply, issuance, and governance powers, while additional local guidelines will need to be considered at the time of launch. However, until further clarifications, compliance profiles in different geographical areas will remain central.

Sentiment and community: high expectations, few certainties

Forums and threads on social media have amplified the narrative of an imminent airdrop, fueling speculation about possible criteria and volumes. Influencers and accounts dedicated to the crypto world are spreading the idea of an operation that could mark “the largest airdrop in history” (as stated, for example, by well-known profiles on X), although official sources remain cautious. In this context, the expectation remains high but still lacks definitive confirmations.

The message for users is to be cautious of so-called fake snapshot, phishing links, and unverified “claim” campaigns; for practical guidelines on how to recognize scams and phishing, see our page on security and phishing. That said, verifying authentic channels remains the only reliable reference.

Quick FAQ

• What is confirmed? The intention to launch the MetaMask token and the goal of more decentralized governance.
• What is not confirmed? Details related to airdrop, date, ticker, supply, and allocation criteria.
• When might it arrive? The timeframes remain open; some sources point to a launch in the second half of 2025, without any official announcement.
• Who might be eligible? Generally, it is assumed that users with verifiable activity on MetaMask could benefit from the operation, although the criteria remain non-definitive.
• Will KYC be required? It might be implemented in certain jurisdictions, depending on local regulations and compliance standards.