Morning Minute: MetaMask Teases $30M Rewards Program – Decrypt

Morning Minute is a each day publication written by Tyler Warner. The evaluation and opinions expressed are his personal and don’t essentially mirror these of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

As we speak’s prime information:

• Crypto majors inexperienced after BTC and Gold make new ATH; BTC at $124,500
• BNB hits new ATH at $1,300 and flips XRP in market cap to turn into prime 3
• Grayscale launches ETH ETF staking in main first
• Polymarket nears $2B funding from NYSE, will accomplice on tokenization
• BMNR inventory pops 12% after disclosing $14B in ETH holdings & $500M in money

🦊 MetaMask’s $30M Rewards Are Incoming

A MetaMask token is certainly incoming.

And it’s coming together with a rewards program.

📌 What Occurred

Season 1 of “MetaMask Rewards” will distribute $30M+ in incentives, together with Linea (the ConsenSys L2) tokens, plus referral perks, mUSD bonuses, accomplice rewards, and “token entry.”

MetaMask additionally posted {that a} rewards program is coming and warned towards circulating “particulars” that aren’t official, indicating specifics will roll out in levels.

All of this lands simply weeks after the pockets launched mUSD, its native stablecoin designed for wallet-native funds and DeFi flows.

🗣️ What They’re Saying

“There’s been chatter a few MetaMask rewards leak. These ideas have been early prototypes — not dwell. However the imaginative and prescient behind them could be very actual. And it’s all about constructing a token financial system.” – Joe Lubin, Consensys founder on X

“Any of the small print you’ve beforehand seen/heard aren’t indicative of what’s to really launch. Let’s speak somewhat bit about what the precise MetaMask Rewards program WILL be. This program will yield referral rewards, mUSD incentives, unique accomplice rewards, entry to tokens, and extra. Nevertheless, it isn’t a farming play. It’s shaping as much as be one of many largest onchain rewards packages ever constructed – in MetaMask Rewards Season 1 alone, we’ll be distributing over $30M in LINEA token rewards.” – MetaMask on X

🧠 Why It Issues

There have been lots of questions and hypothesis round how a MetaMask token would work. And the way historic exercise could be rewarded (if in any respect).

Nicely, this new rewards program doubtless raised extra questions, nevertheless it did present some solutions.

We nonetheless don’t understand how historic exercise will likely be rewarded.

However one factor is now clear – there will likely be a playbook given from the MetaMask workforce on the way to earn rewards.

And $30M in LINEA is only a style of what’s to return (and a fairly large prize in itself).

Count on rewards to be given round mUSD, Linea DeFi, MetaMask perps exercise and extra.

With the airdrop prone to be within the 9-figure vary, if not greater, count on lots of competitors with this one.

However given how busy the airdrop farming panorama is correct now, maybe devoted customers can discover an edge…

🌎 Macro Crypto and Memes

A number of Crypto and Web3 headlines that caught my eye:

• Crypto majors are inexperienced after Bitcoin made a brand new ATH at $125,950 on Monday; BTC even at $124,350, ETH +3% at $4,700, BNB +7% at $1,298, SOL -1% at $230
• CAKE (+13%), XPL (+10%) and S (+10%) led prime movers
• BNB hit a brand new ATH at $1,290 (+50% on the month), flipping XRP to turn into the third largest crypto asset by market cap
• Bitcoin mining shares ripped greater on Monday, with HIVE, IREN and friends outperforming
• Gold hit one other new ATH at $4,000
• Bitcoin ETFs noticed $1.19B in internet inflows on Monday, their highest day since Nov 7, 2024
• Polymarket is nearing a deal with the NYSE dad or mum compnay to obtain a $2B funding
• Galaxy Digital’s Galaxy One led by BlockFi’s Zac Prince launched a “crypto + TradFi” platform, providing yield on money deposits and buying and selling in crypto and equities
• Actual Property firm Open Door introduced plans to just accept Bitcoin
• Swiss regulator Gespa opened a preliminary probe into FIFA’s “right-to-buy” World Cup ticket tokens, inspecting whether or not Avalanche-based collectibles quantity to playing underneath native regulation
• Cathie Wooden’s ARK Enterprise Fund put roughly $10 million into Securitize, a BlackRock-backed tokenization firm
• Ondo Finance finalized its Oasis Professional acquisition, gaining broker-dealer, ATS and transfer-agent licenses to scale tokenized securities within the U.S.

In Company Treasuries / ETFs

In Memes

• Memecoin leaders are largely inexperienced, led by PENGU & Fartcoin; DOGE +1%, Shiba even, PEPE -1%, PENGU +5%, BONK +2%, TRUMP even, SPX -7%, and FARTCOIN +9%
• BNB memes soared with PALU (+940%), BINANCIANS (+550%) & PUP (+250%) notable prime movers
• DOOD led notable movers on Solana, up 80% to $100M

💰 Token, Airdrop & Protocol Tracker

Right here’s a rundown of main token, protocol and airdrop information from the day:

🚚 What is occurring in NFTs?

Right here is the listing of different notable headlines from the day in NFTs:

• NFT leaders have been barely crimson; Punks -1% at 48.2 ETH, Pudgy -1% at 10, BAYC +1% at 8.97 ETH; Hypurr’s -3% at 1,320 HYPE
• Checks (+30%) and Checks – Version (+25%) have been notable prime movers forward of their NFT Technique token launch at 12 pm et at the moment
• Punk Technique fell 35% on the day to $180M after a whale one-clipped out $2.83M; Punk Technique did purchase 3 Punks within the volatility, now holding 27
• Goblin Technique (GOBSTR) debuted, working as excessive as $8M at peak earlier than settling at $2.2
• A Punk Technique competitor Punk Public sale Technique (PAST) ran 2 Punk auctions yesterday and at the moment holds 4 Punks
• NodeStrategy launched within the Bitcoin Ordinals ecosystem, buying 100 Nodes and elevating the ground to 0.078 briefly (now 0.066)