In an interview on The Crypto Beat podcast, he noted that the token will be directly tied to the decentralization of specific platform elements. According to him, ConsenSys actively supports Ethereum’s course toward progressive decentralization, using MetaMask, Infura, and Linea to achieve this goal.
Long-Awaited Release
The crypto community has been watching for the potential release of MetaMask’s native token since 2021, when engineer Erik Marks first proposed the concept of distributed wallet ownership through a token.
In May, MetaMask co-founder Dan Finlay said that the token could be launched and, if released, would be promoted directly in the wallet’s interface. At the time, his phrasing left room for doubt, but Lubin’s statements confirm that the plans have become concrete.
ConsenSys Experience With Linea
Lubin recalled that in early September, ConsenSys conducted a TGE for Linea, Ethereum’s layer two network. A total of 9.36 billion LINEA were distributed, of which only 15% went to the company. The rest was allocated to support developers, provide liquidity, and incentivize users.
According to Lubin, the model of prioritizing distribution in favor of the community has proven effective.
Financial Context
In addition to working on MetaMask and Linea, Lubin chairs the board of directors at SharpLink Gaming, a public company managing Ethereum reserves. Its market net asset value (mNAV) recently fell to 0.80x, which means it is trading below the value of its ETH holdings. A similar trend has been observed in other public crypto trusts, including Bitmine and MARA.
Lubin noted that the decline reflects cyclical fluctuations and long-term trends: as ETH prices rise in the market, SharpLink’s assets will also move toward historical highs.
SharpLink CEO Joseph Chalom added that an mNAV below 1 is a temporary phenomenon. He emphasized that investors in SharpLink shares effectively own ETH and earn staking yields of more than 3%, which should increase the company’s attractiveness in the medium and long term.
Launch Of mUSD Stablecoin
On September 15, MetaMask introduced its first self-custody stablecoin, mUSD. The token is issued by Bridge, a stablecoin issuance platform owned by Stripe, with support from M0 infrastructure.
According to the project’s website, mUSD is backed by short-term US Treasury bills under regulatory oversight. Each token is backed by a dollar-denominated reserve asset. MetaMask stated that stability is ensured through 1:1 backing with highly liquid dollar-equivalent instruments and a transparent reserve structure.
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