What is MetaMask?
MetaMask is a leading non-custodial Web3 wallet developed by ConsenSys, whose parent company has raised more than $700 million across multiple funding rounds. It was created by ConsenSys, whose founder Joseph Lubin is also a co-founder of Ethereum. The team’s background includes talent from top universities and major technology companies. Since its launch in 2016, MetaMask has supported both mobile and browser extensions, reaching around 30 million monthly active users (MAU) by mid-2025, with over 100 million lifetime users and more than 5 billion transactions processed.
What is Metamask Token ($MASK) ?
$MASK is the upcoming native token of MetaMask, designed to support governance and reward wallet activity. It will allow users to participate in decision-making for MetaMask’s ecosystem and may provide incentives for actions such as swapping, staking, or using MetaMask features. The token has been confirmed by ConsenSys leadership, but the exact launch date has not been announced.
Currently, $MASK pre-market trading has been launched on LBank.
How do I set up a MetaMask wallet?
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Download MetaMask from the official website, app store, or install the MetaMask Chrome extension from the Google Chrome Web Store.
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Install the browser extension or open the mobile app.
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Click “Create a new wallet.”
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Set a secure password.
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Write down your Secret Recovery Phrase (12 or 24 words) and store it safely (Must note: once lost, it can't be recovered).
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Confirm the phrase to complete your setup.
Once completed, your wallet is ready to receive assets, send transactions, and interact with Web3 applications.
What is a Secret Recovery Phrase and why is it important?
A Secret Recovery Phrase is the only way to access and recover your MetaMask wallet. Anyone who has this phrase can control your funds.AND MetaMask cannot help recover it.MetaMask cannot reset it.
If you lose it, your wallet and assets cannot be restored.You must store it offline, safely, and privately, and never share it with anyone.
How do I add funds to MetaMask?
You can add funds to MetaMask using three main methods:
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Buy crypto using integrated payment partners
- You can purchase crypto directly in MetaMask using supported fiat payment partners.
- Payment methods may include debit/credit cards or bank transfers, depending on your region.
- Once purchased, the crypto will automatically appear in your MetaMask wallet.
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Transfer tokens from another wallet or exchange
- Copy your MetaMask public address (your account address starts with “0x”).
- Go to the other wallet or exchange, choose Withdraw / Send, and paste your MetaMask address.
- Make sure you select the correct network that matches your MetaMask network to avoid loss of funds.
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Bridge assets from another network
- If your funds are on a different blockchain, you can use a bridge to move them to the network you're using in MetaMask.
- Bridging converts your assets into the network-compatible version, so you can use them in dApps.
Always double-check your wallet address and select network before sending funds.
What networks/tokens does MetaMask support?
MetaMask natively supports:Ethereum Mainnet and All EVM-compatible networks (such as BNB Chain, Polygon, Avalanche, Arbitrum, Optimism, Base, Linea, etc.)
You can also add custom networks manually.MetaMask supports any ERC-20, ERC-721 (NFT), and ERC-1155 token, as long as they exist on the network you’ve connected to.
Why do I need gas fees and what are they?
Gas fees are mandatory blockchain transaction fees paid to the network’s validators—not to MetaMask.
You pay gas fees to the blockchain so it can: process and confirm your transaction, execute smart contracts, maintain network security.
Because every action on-chain (sending funds, swapping tokens, interacting with dApps) requires computing power, smart contracts need computational resources to run, and gas fees cover those costs.
Gas fees incentivize validators to keep the network running securely and reliably.
Gas fees must be paid using the native token of the network you are interacting with. For example, transactions on Ethereum require ETH, Polygon transactions require MATIC, and BNB Smart Chain transactions require BNB. These fees fluctuate based on network activity. When many users submit transactions at the same time, the network becomes congested and gas fees rise. Conversely, when activity is lower and fewer transactions compete for block space, gas fees decrease.
Even if you have other tokens in your wallet, you must have native tokens to pay gas fees and complete transactions.
What role does MetaMask play in the Web3 ecosystem?
MetaMask is one of the earliest and most widely used non-custodial Web3 wallets, serving as the default connection method for dApps on Ethereum and all EVM-compatible chains. Users can create wallets, manage assets, and sign transactions simply by installing the extension or mobile app, significantly lowering the entry barrier to Web3. The wallet has accumulated over 100 million historical annual users.
What advantages does MetaMask have in terms of ecosystem collaboration and brand strength?
MetaMask is part of the ConsenSys ecosystem and benefits from a strong R&D team and extensive industry resources. ConsenSys has raised over $700 million in funding.
At the same time, MetaMask collaborates with various DeFi and on-chain service providers—such as Orca, SNS, Sanctum, Cudis, and Play Solana—offering exclusive benefits and activities that form a “wallet + ecosystem” closed loop.
What recent product and feature enhancements has MetaMask introduced?
Although MetaMask has received criticism for product updates and user experience, it continues to strengthen its infrastructure. Recently, MetaMask launched perpetual contract
trading powered by Hyperliquid, introduced the mUSD stablecoin, and added social login functionality to simplify wallet creation and recovery.
What is the perpetual contract trading feature MetaMask launched with Hyperliquid?
On December 9, MetaMask launched mobile perpetual (Perps) trading, allowing users to long or short directly within the app with up to 40× leverage. The feature supports trading over 150 tokens and certain U.S. stocks and other equity assets, with technology provided by Hyperliquid. Supported tokens include ETH, BTC, LINEA, XPL, BONK, and more; supported U.S. Stocks include NVIDIA (NVDA), Tesla (TSLA), Apple (AAPL), Microsoft (MSFT), Palantir, Robinhood, Circle, and others. MetaMask stated that the trading experience has been rebuilt to allow orders to complete “within seconds,” better matching the high-volatility nature of perpetual markets.
Users can top up perpetual accounts using any EVM-chain token, which is automatically converted to USDC for faster order execution. However, this feature is not available in the United States, the United Kingdom, Belgium, Canada’s Ontario province, and other U.S.-sanctioned regions.
What new Bitcoin-related functionality has MetaMask recently introduced?
MetaMask announced support for Bitcoin, allowing users to purchase BTC directly with fiat, send BTC on the Bitcoin network, and swap BTC using EVM-native assets and SOL. This update is part of MetaMask’s broader multi-chain expansion, which also includes earlier additions such as Solana support, perpetual trading powered by Hyperliquid, and the recently added Polymarket integration.
The latest MetaMask version initially supports native SegWit addresses, with plans to add Taproot support soon. Meanwhile, ConsenSys is preparing for an IPO, and MetaMask has indicated that the MASK token is coming, though no specific launch date has been announced.Currently, $MASK pre-market trading has been launched on LBank.
How has MetaMask’s token issuance plan evolved?
As a major wallet in the Ethereum ecosystem with over 30 million monthly active users, MetaMask’s token plan has been highly anticipated since the last market cycle, though it was once shelved when the market turned bearish. On September 11, ConsenSys CEO Joseph Lubin hinted on Twitter—while responding to questions about the LINEA token—that holding a certain number of LINEA tokens for enough days might allow another token to appear in users’ wallets.
On September 19, he confirmed in an interview with The Block that MetaMask’s native token, $MASK, is coming and may arrive “sooner than expected.” Lubin stated that the token will give users more governance power and reward on-chain activity within the wallet, such as trading and staking.
Why is MetaMask’s ecosystem positioning receiving so much attention?
MetaMask’s significance extends beyond its role as a wallet—its position within the broader ConsenSys ecosystem is strategic. The upcoming $MASK token is expected to serve as a key value connector across ConsenSys’ ecosystem, linking components such as the Linea network, the mUSD stablecoin, and MetaMask Card to create a value flywheel.
With regulatory pressure easing, user growth rising, and continuous feature expansion (including Solana support, perpetual trading, and mUSD), MetaMask is further strengthening its role in the multi-chain era and becoming an essential pillar of ecosystem growth.
