The MetaMask Rewards event will last for 90 days and will distribute over $30 million in $Linea token rewards.
Written by: San, Deep Tide TechFlow
On the evening of October 28, MetaMask announced the launch of the first season of the "MetaMask Rewards" points reward program.
As a well-established wallet application that has been widely used since the DeFi era, the news of this event quickly attracted significant market attention, especially following the confirmation of an upcoming token issuance in a previous MetaMask official press release.
The MetaMask Rewards event will last for 90 days and will distribute over $30 million in $Linea token rewards. The accumulated points from this event are likely to influence the issuance amount of the MetaMask token in the future.
From Wallet to Crypto Financial Hub
The launch of this points program by MetaMask is not an isolated event; it is accompanied by a product iteration towards transforming MetaMask into a crypto financial hub.
As a veteran wallet application, investors who entered the crypto market a bit earlier have used MetaMask to some extent, and the familiar little fox logo has almost become synonymous with crypto.
However, with the emergence of more wallet applications in recent years, this fox has gradually been abandoned by the market in the face of an endless stream of new features.
Having missed the NFT, inscription, and MEME markets, MetaMask has chosen to embrace Perp DEX, returning to the public eye with a brand new look.
Currently, after updating to the latest version of MetaMask on iOS, users can find the perpetual contract option in the "Trade" section, currently supporting up to 40x leverage trading, with technical support provided by Hyperliquid. This arrangement clearly indicates that MetaMask is promoting Perp DEX as the main feature of this update.
Points Program Interaction Guide
The MetaMask points reward program only supports participation via mobile devices and does not currently support the web version. iOS users can update MetaMask in the App Store, while Android users will need to wait for the official update.
After updating MetaMask, click on the "Rewards" option in the bottom navigation bar and enter the invitation code to access the MetaMask Rewards event interface.
Once users enter the event interface, they can link other addresses to receive historical rewards. MetaMask will provide retroactive rewards for historical trading activities before October 15. For every $1250 exchanged or cross-chain activity, users can earn 250 points, with a maximum of 50,000 points per address. Users with multiple wallets can quickly accumulate a large number of points by linking addresses.
In addition to earning basic points through linked addresses, users can also earn points through the following activities:
1. Token Exchange: Use MetaMask for token exchange transactions, earning 10 points for every $800. Additionally, trading on the Linea network will earn double points, and combining mobile exchanges will yield a 1.5x bonus, allowing for a maximum of 3x points acquisition.
2. Perpetual Contracts: Users can earn 10 points for every $100 traded in perpetual contracts within MetaMask, including opening and closing positions.
3. Refer a Friend: Invite other users to participate in the points reward program through an invitation link. Invited users will receive double registration points, and for every transaction, they can earn 50 points, while the inviter will receive a 10-point reward.
Additionally, this event has set up a user level mechanism, allowing participating users to see their unlocked rewards and those yet to be unlocked. By earning points to increase their level, users can gradually unlock limited-time point bonuses, reduced fees for perpetual contracts, and other benefits.
The Transformation Journey of the Little Fox is About to Begin
As one of the most widely used veteran wallets, MetaMask has maintained a strong reputation in the crypto market. However, missing multiple market narratives has put MetaMask at risk of being phased out.
Beyond being more user-friendly and streamlined, this update embracing Perp DEX and the clear announcement of token issuance seems to be the first step in the little fox's transformation journey. This points reward program is also likely to lead to another large-scale airdrop event in the crypto market.
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