MetaMask issue coin is imminent! The hundred billion valuation Airdrop may refresh history, are you ready?

Original Title: $MASK Could Reach $12B FDV and Deliver Largest Airdrop Ever

Author: @the_smart_ape, X

Compiled by: White55, Mars Finance

I think a piece of news has been overlooked on Crypto Twitter. The CEO of ConsenSys recently announced that the MetaMask token is about to be launched. His exact words were: “The MASK token is coming soon, possibly earlier than you expect.”

MetaMask Adoption Status

I personally stopped using MetaMask a long time ago because I prefer the interface and features of Rabby, but MetaMask still has a first-mover advantage. It remains the most popular wallet to this day, with 143 million users.

MetaMask Income Analysis

MetaMask has multiple sources of income:

MetaMask Swap: Built-in DEX aggregator, charges approximately 0.9% fee for each exchange.

Deposit and Withdrawal: Use bank card to purchase cryptocurrency.

Cross-Chain Bridge: Token Cross-Chain Transfer

Staking: Directly stake ETH through MetaMask Portfolio

Institutional Version: MetaMask institutional solutions for funds and enterprises.

In the past three months, MetaMask's weekly transaction volume has ranged between 60 million and 200 million dollars.

This means an average weekly income of $1.5 million, with an annual income of about $72 million. Last year, the figures were even higher, with a weekly income of about $2.5 million and an annual income reaching $120 million.

Cross-chain bridge revenue can reach up to $100,000 per day, increasing by $36 million annually.

Other revenues contribute approximately $10 million annually, bringing MetaMask's total annual revenue to about $120 million.

FDV estimation

We are not yet clear about the economic model and actual utility of the MetaMask token, but it would not be surprising if there is some form of profit-sharing or buyback mechanism. If so, the profits will drive its valuation.

To measure a reasonable fully diluted valuation/revenue multiple, we can refer to other wallet tokens such as TWT, SFP, XDEFI, and GNO.

Under conservative expectations, the fully diluted valuation to income ratio could reach 100 times.

Based on the current annual revenue of approximately $120 million, this means that its fully diluted valuation could be close to $12 billion.

In contrast, Trust Wallet is the second most used wallet, with a token TWT having a FDV of $1.32 billion, so it is hard to imagine that the issuance valuation of the MetaMask token would be less than $5 billion FDV.

It could be the largest airdrop in history.

The largest airdrops in history include Uniswap, ApeCoin, dYdX, and Arbitrum, while the MetaMask airdrop is highly likely to change this top airdrop list and may even join or surpass this group.

If we assume the fully diluted valuation (FDV) to be $12 billion and conduct a 20% airdrop to MetaMask users, the amount distributed could reach $2.4 billion, easily placing it in the top three.

Although the total amount is huge, it will be distributed among over 140 million users. The uniqueness of this airdrop lies in its large pool of eligible users, which amplifies the total value and expands the coverage.

A large user base, consistent revenue, clear utility, and market hype every four years could make it a historic airdrop.

How to make money from MetaMask token issuance?

I usually say to maximize your airdrop opportunities, but if you haven't started participating actively, it might be too late now, especially considering that the CEO of ConsenSys hinted that the mainnet is about to launch.

One current strategy is to make a pre-purchase, as the MetaMask token is expected to be launched on Whales Market soon, and clearly, I am not the only one waiting for this announcement.

I will closely monitor the FDV before the listing: if the opening valuation is below $5 billion, early buying may be very attractive, but significant fluctuations are expected.

MetaMask may also launch a token incentive program, such as mUSD liquidity pools, staking opportunities, or trading rewards, which could be a good way to earn MetaMask tokens through early mining with high annual yield.

Considering the potentially large number of token recipients, the first 24 hours after the airdrop are likely to see extreme market volatility, creating significant arbitrage opportunities between centralized exchanges and decentralized exchanges.

Concerns after the LINEA misstep

ConsenSys launched LINEA a few weeks ago, but made some significant mistakes.

Technical issues occurred during the TGE, including distribution delays and network congestion.

The actual use of the token is still unclear, and there was an immediate whale sell-off after the airdrop ended.

Many people complain that Binance Alpha users have faster and more favorable access than most of the community.

I only hope that ConsenSys can learn from previous mistakes and avoid repeating them with the MetaMask project, especially to prevent Binance Alpha or insiders from receiving tokens and listing news earlier than the core user group of MetaMask.