Mask Network Announces Launch of Staking Initiative, Airdrop Expected to Drive Coin Price Surge of Nearly 30%

Mask Network Announces Launch of Staking Initiative, Airdrop Expected to Drive Coin Price Surge of Nearly 30%

Mask Network Announces Launch of Staking Initiative, Airdrop Expected to Drive Coin Price Surge of Nearly 30%

According to an official announcement by Mask Network, the project will launch a MASK token staking program to reward the community and token holders. Participants who stake MASK tokens will have the opportunity to receive tokens issued by the project’s core partners and rapidly growing projects in its ecosystem as incentives. The team stated that by providing additional token rewards, they hope to create abundant opportunities for users to explore blockchain services and applications.

Mask Network’s investment institution, Bonfire Union, established two venture capital funds respectively when it was founded in 2022 and in early 2024. Since its establishment in 2022, the two funds have collectively raised $100 million, strategically investing in decentralized social networks and infrastructure. So far, over 120 projects have joined the Mask Network ecosystem.

According to data from RootData, projects invested by Bonfire Union include The Open Network, AltLayer, Galxe, and RSS3, among others. There are also unreleased projects such as Meson Network, Lens Protocol, and Scroll. The tokens issued by these projects have the potential to become potential rewards for users staking MASK.

The announcement has triggered a rebound in the MASK token, with a price increase of over 28% in the past 24 hours.