What is Mask Network?
The Mask Network token or MASK is a utility token native to the Mask Network. The latter is a blockchain-based encryption tool aiming to bridge the users of Web 2.0 into Web 3.0 which is the future of the internet.
MASK is powering the Mask Network. There are many functions behind the MASK token. Some of them are trading, staking, and yield farming. Only MASK holders are subject to airdrops.
MASK also serves as a governance token. Governance itself happens on the decentralized autonomous organization (DAO) - MaskDAO. MASK holders can cast their vote in deciding the future development of the Mask Protocol.
Anyone can acquire MASK tokens via major supported exchanges. You can check our recommended exchange list in the section above.
It was launched in early 2021 which is almost 2 years later after the launch of the Mask Network itself.
There is a max cap of 100,000,000 MASK. This could mean that as the Mask Network tokens become more scarce, the MASK price will increase. MASK tokens were allocated as follows:
- 39.55% - Foundation Reserve;
- 23% - Team Fund;
- 14.25% - Early Investors;
- 14.20% - Token Round;
- 7% - Public Sale;
- 1% Liquidity Pool;
- 1% - Airdrop.
Mask Network is a crypto project, therefore, the MASK price tends to fluctuate. You can keep up with the fluctuations by checking out the graph above.
These types of graphs are designed to provide you with an in-depth look at the Mask Network price history or the current MASK price trends, among other important details.
What are the Main Features of Mask Network?
The focus of Mask Network is privacy in the digital world.
Its core product is Mask Extension which is a web browser extension that encrypts messages on social media platforms. For instance, it allows users to post encrypted tweets on Twitter.
At the time of writing, Mask Network supports Facebook, Twitter, and Minds.com.
Other products and services within the Mask Network include a content encryption service, Initial Twitter Offerings (ITOs), and social marketplaces.
Content encryption enables users to encrypt their posted content on social media platforms. Furthermore, this content can be restricted meaning that only a certain group of people can access the content.
ITO is a type of public offering that allows users to buy tokens directly on Twitter. Please note that you must have the Mask Extension installed on your browser for this to work.
The social marketplace is an NFT marketplace integrated into the Mask Extension. Users can use it to buy NFTs without having to leave Twitter or Facebook.
Mask Network has integrated Transak which enables users to trade cryptocurrencies solely through the Mask Extension. To put it simply, it’s a one-click buy/sell crypto function that can be used by residents of more than 60 countries around the world.
Transak allows users to buy crypto with fiat by a wire transfer or a credit/debit card.
Besides buying and selling cryptocurrencies, users are also provided with an overview of the coin or token At the time of writing, this feature is available exclusively on Twitter and Facebook.
Some of the project’s other features include Mask Bridge, Twitter page customization, and NFT ownership validation.
Mask Protocol is running on the Ethereum blockchain. However, Mask Network has gone a step further and integrated other blockchains into its ecosystem. This includes BNB Smart Chain, Polygon, xDAI, and Arbitrum.
Before users can start encrypting their messages, they have to create an account called a persona. This account is secured with a mnemonic phrase.
Mask Network offers fun tools like Lucky Drop which is essentially a crypto-based giveaway tool. It allows users to send coins, tokens, or even NFTs as a gift.
Mask Network is an open-source project. This means that its codebase is publicly available for anyone to review.
As discussed in the What is Mask Network section, 7% of MASK tokens were released via a public sale. This is where Mask Network got to use its exclusive public offering type - an Initial Twitter Offering. ITO was used in the first stage of the public sale while a Liquidity Bootstrapping Pool (LBP) was used in the second stage.
With the help of the public sale, Mask Network managed to raise over 5,000,000 US Dollars.
The co-founder of Ethereum, Vitalik Buterin, has used Mask Network during an exclusive Lunar New Year Red Packet campaign.
Who Developed Mask Network?
The Mask Network crypto project was launched in mid-2019. It’s a blockchain service provider based in Illinois. Its founding team consists of individuals with years of experience within the Web 3.0 space.
Only a few members of the founding team at Mask Network have revealed their identity, among them is Suji Yan. He is a tech entrepreneur who has also founded Dimension - a project that fights for the “Right to Cryptography and Freedom of Interpretation”.
Mask Network has managed to sign partnerships with major players in the blockchain industry such as Arweave, Binance, Coinmarketcap, Ideamarket, Maker DAO, MetaMask, Mirror, NEAR, OpenOcean, Transak, and UniSwap.
These partnerships brought unique integrations into the Mask Network such as a decentralized idea marketplace.
Furthermore, the Mask Network crypto project received support from Alameda Research, Binance, Digital Currency Group, Fundamental Labs, Hash Global, HashKey, and Sino Global.
It has also received backing from individual investors including Balaji Srinivasan, Cecilia Li, and Henry Wang.
Don't forget to check the MASK price on the graph above if you're considering purchasing this token.
