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Home»Analysis»MetaMask could soon launch its Token Airdrop. Here’s how to prepare
Analysis

MetaMask could soon launch its Token Airdrop. Here’s how to prepare

2023-05-07No Comments5 Mins Read
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Key learning points

  • MetaMask seems to be moving towards decentralization, which might suggest an airdrop is on the horizon.
  • By using MetaMask in different ways and interacting with ConsenSys linked projects, you can increase your chances of being eligible for the airdrop.
  • Exchanging tokens on MetaMask and using the wallet’s new bridge are two activities that could lead to an airdrop in the future.

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Crypto Briefing looks at the various steps MetaMask users can take to increase their chances of qualifying for the long-rumoured token airdrop from the wallet.

MetaMask token incoming?

MetaMask is the most popular Web3 wallet and rumors of a possible token airdrop for active users have been circulating the crypto space for years. ConsenSys founder and CEO Joe Lubin has hinted on several occasions that a token is in the works, but the company has yet to share all the details. Interestingly, ConsenSys recently launched its MetaMask Grants DAO, an employee-led initiative to provide funding to developers outside of ConsenSys working to expand the MetaMask ecosystem. The move may be an indication that the company wants to decentralize the project.

ConsenSys hit a $7 billion valuation with a $450 million Series D raise in March, meaning it could potentially send a tidy sum to users. But since the wallet is widely used by crypto residents of all levels, it may not be easy to qualify for the airdrop. Here are some steps MetaMask users can maximize their chances of receiving the wallet token once it is live.

1. Swap tokens on MetaMask

If you don’t have a MetaMask wallet, you’ll need to create one first. To get started, download the browser extension or mobile appcreate a wallet, keep your seed phrase in a safe place, and fund your wallet with some ETH.

See also  Coinbase wins Greenlight to operate in the second largest economy in South America with 5,000,000 daily crypto users

Trading tokens on MetaMask is easy. In the main menu, click the blue Exchange button next to the Buy and Send icons. Trade some ETH for a token of your choice, but make sure you have enough ETH in your wallet to cover transaction fees.

2. Use the MetaMask Bridge

MetaMask was recently launched a bridge to let users move money from one blockchain to another. Connect your wallet to the MetaMask bridge, select Ethereum as your first network, choose another network to send to (you can choose between Polygon, Avalanche, and BNB Chain), then bridge ETH, MATIC, DAI, USDC or USDT Tokens.

Again, make sure you already have your second network’s native token in your destination wallet to pay for the gas charges. Otherwise, a simple solution is to bridge MATIC from Ethereum to Polygon, as MATIC is Polygon’s native token.

3. Create a Gnosis Safe Wallet

ConsenSys and Gnosis Safe announced a partnership in February to increase wallet security, so MetaMask can reward Gnosis users.

Go to to start using the product Gnosis safe, connect your wallet and follow the steps to create a multisig Safe wallet. You’ll need to select Ethereum as the network, name your new wallet, provide at least two addresses as the “owners” of the wallet (you can create a new MetaMask account and enter that address in addition to the one you’re already using), and pay a small transaction fee.

4. Donate via Gitcoin

ConsenSys has close ties to Gitcoin, as it helped the Ethereum-based donation platform in its early days before striking out on its own in 2021. Donating to Gitcoin could therefore increase the chance of being eligible for a MetaMask airdrop. To make a donation you must create a profile on GitHubthen go to the Gitcoin Grants page, plug in your MetaMask, select a Grant project you like, add it to your cart, go to checkout and choose how much you want to donate (and in what currency). We recommend donating at least $10 as qualification criteria may have a minimum donation limit to prevent airdrop farming.

See also  History suggests a massive Bitcoin correction is underway, according to analyst Benjamin Cowen

5. Sign up for Infura

ConsenSys acquired Infura in October 2019. Considered one of the world’s leading blockchain infrastructure platforms, Infura also directly supports MetaMask. Moving towards decentralization, Infura has launched an early access program for community members to help. You can fill out a form at the company website to sign up, though Infura is specifically looking for those with experience in blockchain infrastructure. You can also visit ConsenSys’ Disagreement channel for more information on ways to get involved.

Final thoughts

Airdrop hunting is more art than science, and there is an element of luck involved. Even if you follow all of these steps, it is not guaranteed that you will be able to claim MetaMask tokens once ConsenSys issues them. Some airdrops, such as the Bored Ape Yacht Club APE token giveaway, have been extremely lucrative. Others, such as Optimism’s OP token distribution, have been controversial due to their strict qualification criteria. Nevertheless, following the steps listed in this piece is worth the time and effort given the likelihood that they will pay off.

Disclaimer: At the time of writing, the author of this piece owned BTC, ETH, and several other crypto assets.

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