What is a Mask Network (MASK)?

Mask Network seeks to connect Web 2.0 and Web 3.0, enabling Twitter and Facebook users to access Web 3.0 functionalities seamlessly. These functionalities comprise payment options, tipping, decentralized exchange trading, decentralized file storage, and the buying and selling of NFTs, all within the confines of their social network platforms.

Through collaborations with prominent entities like CoinMarketCap, Uniswap, Arweave, and others, Mask Network has established partnerships. Furthermore, the project remains chain-agnostic, extending support to various chains, including but not limited to Binance Smart Chain, Ethereum, and Polygon.

Established in 2017 by Suji Yan, Mask Network represents a protocol engineered to bridge the transition from Web 2.0 to Web3, aiming to facilitate the widespread adoption of cryptocurrencies and blockchain technology. Its primary objective involves integrating web3 elements like crypto, blockchain, non-fungible tokens (NFTs), and others into popular social networks such as Twitter and Facebook. 

Mask Network remains chain-agnostic and compatible with various networks, including Ethereum, BNB Chain (formerly Binance Smart Chain), Polygon, Arbitrum, xDAI/Gnosis Chain, Fantom, Solana, Avalanche, Aurora, and Flow.

Who is the founder of Mask Network?

Suji Yan is the founder of Mask Network. Before launching Mask Network, Yan created Dimension.im, a suite of products aimed at promoting social freedom within the cypherpunk movement, particularly advocating for the "Right of Cryptography and Freedom of Interpretation."

What is the working mechanism of Mask Network?

Mask Network operates as a protocol, not a standalone platform, functioning within existing platforms like Facebook and Twitter. Being an early participant in the Bluesky decentralized social network initiative endorsed by former Twitter CEO Jack Dorsey, it has achieved full integration into these social media platforms. Operating through a decentralized autonomous organization called the MaskDAO, Mask Network operates entirely in a decentralized manner.

To engage with Mask Network, users merely need to visit the official website and install a browser extension, connecting a new or existing Mask Network account to their social network accounts. Through the Mask Extension, users gain the ability to encrypt their Tweets, conduct crypto transactions, trade NFTs, securely store and share decentralized data, and access several other key features outlined below.

What exactly is the MASK Network?

MASK Network represents the governance token of MaskDAO, affording its holders the right to vote. Initially an ERC-20 token, it can be converted to BEP-20 via the Mask Bridge. With a hard cap of 100 million tokens, roughly 74.16 million are presently in circulation.

At inception, 39.55% of the tokens were allocated to the Foundation Reserve, 23% to the development team, 14.25% to early investors, 14.2% to the Token Round, 7% were sold to the public, and 1?ch was dedicated to the airdrop and liquidity pool.

What are the use cases of MASK Network?

• Governance: MASK token holders will have the opportunity to engage in network governance decisions within MASK DAO. They can also participate in subDAOs to vote on the selection of projects for Initial Twitter Offerings (ITOs).

• Protocol Incentivization: Users actively utilizing the Mask Network features will receive rewards in the form of MASK tokens.

• DApplet Development on Mask Network: Developing DApplets (Decentralized Applications running within Web 2.0) on Mask Network will necessitate a stake in MASK tokens.

• Premium Features: Utilizing premium functionalities within Mask Network, such as cross-chain smart wallets (in Mask 2.0) and social profiles, will also require users to possess MASK tokens.

  To read more information on Mask Network, visit Suncrypto Price Explorer