MetaMask taps Linea for $30M reward program paid out in LINEA tokens

MetaMask will partner with Linea for one of the biggest airdrops in the crypto space. In Season 1, the wallet will distribute $30M in LINEA tokens, which may affect the eventual distribution of MASK tokens. 

MetaMask will distribute $30M LINEA tokens through its point farming program, announced the wallet operator. The on-chain reward program should become active in about two weeks. 

MetaMask debunked other rumors on the nature of the airdrop and announced its rules for Season 1, which will distribute LINEA tokens. The wallet operator avoided calling the program “point farming,” instead calling it the biggest on-chain incentive. 

The wallet operator explained the program would also include yield referral rewards, mUSD incentives, exclusive partner rewards, and exclusive access to tokens.

Incentives and rewards will also come to regular users with a long trading history. The wallet operator aims at rewarding long-term users, so the incentive program may work best with an old wallet with a significant history of ETH gas usage. 

Additional data points to a possible point distribution, with 80 points for each $100 in spot trading, 10 points for futures trading, and 250 points for each $1,250 in past trades. 

MetaMask swaps and trades are relatively expensive. Previously, the wallet operator has hinted at airdrops, leading to expanded trading activity. The current incentive program may compensate some of the users for their expensive swaps, while MetaMask remains tokenless. 

MetaMask has not given up on token creation

The founder of Consensys and Ethereum Joseph Lubin mentioned previous leaks about MetaMask’s reward program. MetaMask will now try to deepen its reach by distributing LINEA tokens and incentivizing Linea on-chain activity. 

Lubin mentioned a MetaMask token may be coming after the first season of incentives, leading up to a TGE. As Cryptopolitan reported earlier, Lubin has mentioned a commitment to an airdrop, though without a specific deadline or a roadmap. 

The new incentive and reward program, as well as the eventual MetaMask token still do not mention the KYC requirement for receiving payouts. The other concern is that users would once again be pressured to pay high fees for transacting and trading on MetaMask. Some users called for rewarding early adopters without additional spending requirements. 

Linea posts low address activity, growing app revenues

The MetaMask incentive program may boost Linea usage, as the chain has seen fewer active wallets in the past months. 

Linea carries around 26K daily active wallets, down from a brief September peak at over 350K daily active wallets. The chain also carries around 134K transactions daily. 

However, Linea is growing its app space and secured value stats, locking in over $2.3B in tokens and stablecoins. The chain carries $233M in stablecoins. Total app revenue as of October is at around $331K. 

LINEA tokens have settled at around $0.027, with choppy trading in the past few weeks. The token itself was one of the most long-awaited airdrops, though some of the tokens were sold for profit soon after the launch.

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