Cryptocurrency wallet giant MetaMask made an official statement following the airdrop and “token reward in exchange for points” claims that have been circulating on social media in recent days.

The allegations claimed that “MetaMask will launch a system that awards points for Swap and bridge transactions, and these points can be converted into token rewards in the future.”

The company partially confirmed these rumors in a post today, but stated that the details were misrepresented:

“Yes, an awards show is coming. But what you've heard or seen so far doesn't necessarily align with what's actually coming out.”

The company announced that the new program will be called MetaMask Rewards and will not be a farming-focused system. It was announced that more than $30 million in LINEA token rewards will be distributed in the first season (Season 1).

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The program will include referral rewards, mUSD incentives, special partnership rewards, token access, and more.

The company also stated that they will not forget users who have been actively using the wallet for a long time, saying, “Users who have been with us for a long time will receive special benefits. MetaMask Rewards will have meaningful connections to the future MetaMask token.”

Details of the rewards program are expected to be shared over the next few weeks and rolled out gradually.

*This is not investment advice.

Continue Reading: MetaMask Allegedly Planning a Major Airdrop: Official Response Issued