Mask Network

The MASK token was launched in February 2021 and serves as the governance token for the MaskDAO. At the genesis, 100,000,000 MASK tokens were created, with the rest of the supply to be unlocked over a three-year period. The token distribution allocates 7% to a "Community Public Offering," while the rest goes to the reserve (39.55%), early investors (14.25%), and the team (23%). Mask Network was founded by Suji Yan, who previously founded Dimension.im, a series of products aimed at advocating for social liberty along the cypherpunk movement.

The key unique feature of Mask Network is its ability to bring decentralized functionality to existing Web 2.0 social media platforms. Rather than requiring users to migrate to a new platform, Mask Network allows them to access decentralized applications, cryptocurrencies, and other Web 3.0 features directly within the social media platforms they already use, such as Twitter and Facebook. This helps bridge the gap between the centralized Web 2.0 and the decentralized Web 3.0 ecosystems.

Mask Network runs on the Ethereum network, which has recently transitioned from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism as part of the Ethereum Merge. The PoS system is designed to provide increased security and energy efficiency compared to the previous PoW model.