Mask Network is a portal that enables users to access Web 3.0 by seamlessly sending encrypted messages and cryptocurrencies. In addition, it allows access to decentralized apps (dApps) on traditional and decentralized social networks.
In short, Mask Network wants to bring the new, open internet to existing social platforms so that more people can engage with Web 3.0.
Mask Network aims to create features on traditional social media platforms that are compatible with the decentralized social media world. It does so while maintaining a strong degree of familiarity with Web 2.0 users.
What is Mask Network?
The Mask Network currently supports a number of decentralized applications (dApps) — including Uniswap and SushiSwap. It is compatible with many social media platforms, including Twitter and Facebook.
Here's how it works: Once users either install the Mask extension or download the app and connect their accounts, they can display non-fungible tokens (NFTs) on their social media profiles. They can also bid on an NFT from a platform such as OpenSea or Rarible.
Additionally, they can share or donate to a grant on Gitcoin, send cryptocurrency with a social media post, and more.
Mask Network's release of its 2.0 iteration includes the multi-chain Mask wallet. The wallets are a MaskID login system aggregating users' social media accounts and Web 3.0 addresses.
Mask Network is available on Chrome Web Store, Firefox ADD-ONs, and beta on iOS and Android devices.
$MASK is the native token of MaskDAO, the Mask ecosystem's governing decentralized autonomous organization (DAO).
The price of $MASK has risen from $1.21 to $5.77 in the past 7 days, an increase of 377%.
We give an analysis of this gem.
Volume and Market Cap
Since October 28, the volume of $MASK has exceeded its market cap, with a maximum of 6.8 times the market cap.
Consequently, this indicates that the price of $MASK will fluctuate greatly.
Token Distribution
The token supply stands at 100 million $MASK, distributed as follows.
- VC Round: 14.2M $MASK (14.2%)
- Equity Round: 14.25M $MASK (14.25%)
- Team: 23.6M $MASK (23.6%)
- Foundation Reserve: 39M $MASK (39%)
- Public offering: 7M $MASK (7%)
- Liquidity Pool: 1M $MASK (1%)
- Airdrop: 1M $MASK (1%)
Mask Network raised funds from investors over the years at 5 different price levels, whose details are showcased below.
In the past seven days, an address of the $MASK team has transferred a total of 2.5M $MASK($13M) out.
Among them, 100,000 $MASK ($520,000) was transferred to #OKEx, and 1M $MASK ($5.2M) was transferred to Binance.
The top 50 holders of $MASK hold a total of 93.75M $MASK ($462M), accounting for 93.75% of the total supply. In the past seven days, they accumulated a total of 4.4M $MASK ($22.88M).
Binance holds a total of 17.97M $MASK ($88.61M), accounting for 17.97% of the total supply and 61.7% of the circulating supply. In the past seven days, a total of 5.37M $MASK ($27.9M) flowed into Binance.
Is MASK Risky?
Like other cryptocurrencies, investing in the $MASK token is still risky. However, it has a higher probability of going up than down as it has a good use case, well-designed tokenomics, an active community and a solid team behind it.
The long-term sentiment remains bullish, and MASK could hit $8.77 in 2023.
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