MetaMask could launch its token airdrop soon. Here’s how to prepare

Crypto briefing looks at the various steps MetaMask users can take to increase their chances of qualifying for the wallet’s long-rumored token airdrop.

MetaMask token incoming?

MetaMask is the most popular Web3 wallet and rumors of a possible token airdrop for active users have been circulating in 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 not yet shared full 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 could be an indication that the company wants to decentralize the project.

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

1. Exchange tokens on MetaMask

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

Swapping tokens on MetaMask is easy. From the main menu, click the blue Swap button next to the Buy and Send icons. Exchange some ETH for a token of your choice, but make sure you keep enough ETH in your wallet to pay the transaction fees.

2. Use the MetaMask bridge

MetaMask has recently been 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 the gas fees. Otherwise, a simple solution is to bridge MATIC from Ethereum to Polygon, since 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.

To start using the product, go to Gnosis Safe, connect your wallet and follow the steps to create a multisig Safe wallet. You will need to select Ethereum as the network, name your new wallet and 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 already use) and pay a small transaction fee.

4. Donate via Gitcoin

ConsenSys has close ties to Gitcoin, having helped the Ethereum-based donation platform in its early days before launching on its own in 2021. Donating to Gitcoin could therefore increase the chances of qualifying for a MetaMask airdrop. To make a donation, you must create a profile at GitHubthen go to the Gitcoin subsidies page, connect 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 each qualifying criteria may have a minimum donation limit to prevent airdrop farming.

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. Infura is moving toward decentralization and has launched an early access program for community members to help. You can fill out a form at the company website to apply, although Infura is specifically looking for people with experience in blockchain infrastructure. You can also visit ConsenSys’ Disagreement channel to learn more about 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 these steps, it is not guaranteed that you will be able to claim MetaMask tokens once ConsenSys releases them. Some airdrops, like Bored Ape Yacht Club’s APE token giveaway, have been extremely lucrative. Others, such as Optimism’s OP token distribution, were controversial due to their strict qualification criteria. Nevertheless, following the steps in this piece is worth the time and effort as there is a good chance they will pay off.

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