This proposal is expected to appear on Snapshot for voting on [date=2021-09-05 time=12:00:00 timezone="UTC"]. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

Proposal to Whitelist MASK

TL;DR

• Proposal to whitelist MASK.
• Proposed co-investment is 100,000 BNT.
• There are no apparent security concerns that would prohibit whitelist status.
• There is no reason to doubt the legitimacy of the MASK project.
• The benefit to Bancor is clear.

Token Address: 0x69af81e73a73b40adf4f3d4223cd9b1ece623074

Project Website: https://mask.io/

Token Security

Address the security of the token contract and deployment. Audit report:

SECBIT (Feb 22, 2021)

-$MASK Token Supply and Distribution A total of 100,000,000 $MASK tokens was created at genesis. Below is the information of the previous rounds and the distribution of the token before the Initial Twitter Offering of $MASK.

-3-Year Circulating Supply

Circulating supply is the outstanding balance of token that can be freely traded in the market at any point in time. The majority of $MASK supply is subject to long-term lockups. The initial circulating supply is made up of Public Sale of $MASK, the liquidity pool and airdrop. The chart below shows the gradual increase of the circulating supply as tokens unlock.

The table below shows the circulating supply for each year. The contracts and addresses with the highest concentration of MASK tokens are predominantly the deployer and team reserve.

More information about MASK Token

Project

Mask Network creates a decentralized application ecosystem that bridges the gap between Web 2.0 and Web 3.0 for users, helping them make a seamless transition. It provides the main function of encrypting and decrypting information transmission and evolves around this function, integrating de-private social, borderless payment network, decentralized file storage and sharing, decentralized finance, and governance (DAO) to help users protect their privacy, data, assets and rights on traditional social networks such as Twitter, Facebook, etc.

Tokenomics

$MASK is the native token of MaskDAO. The DAO is the owner of the Mask Ecosystem. $MASK holders are members of MaskDAO and possess ownership of the Mask Ecosystem through the DAO. As the native token, $MASK serves as incentives to facilitate governance. Each $MASK represents one vote. Overtime, Mask Network team and ecosystem members will develop more products and services that would accrue value to $MASK. Mask Network will continue to actively engage with top Web 3.0 and DeFi projects as we have done with MetaMask, Mirror, UniSwap, Pancakeswap, Transak, Coinmarketcap etc to expand use cases for $MASK.

Community and Communication

• Official Website
• Github
• Twitter
• Facebook
• Discord
• Telegram

Available Audits

SECBIT (Feb 22, 2021)

Market and Trading Data

• $MASK contract address: 0x69af81e73a73b40adf4f3d4223cd9b1ece623074
• $MASK market cap: ~$115,200,000
• $MASK holders: 6,660
• CoinGecko token link
• Etherscan token link
• Links to Dex liquidity pool
  • Sushiswap
  • Pancakeswap
  • Uniswap V3
• Available on Binance, OKEx, Huobi, Coinbase, Digifinex and other 30+ CEXs

Benefits for Bancor

• Single Sided staking and no IL risk for long term LPs can make this MASK’s deepest AMM pool. That should result in impressive volume.

• As of Sep 1 2021, according to Coingecko $MASK market cap is $115,200,000 and average 24hrs trading volume YTD is $66,719,022 with nearly 66 thousand holders. By adding $MASK as a collateral asset, Bancor will potentially increase TVL and generate more usage.

• MASK Network has an active community with more than 41 thousand followers on Twitter that will be happy to support Bancor by promoting and marketing the utility of $MASK as a collateral on Bancor on social media.

• Through Mask Network, users can directly view the price trend of tokens on CoinMarketCap or CoinGecko on Twitter and conduct transactions on Uniswap and Sushiswap by connecting their wallets. It is possible to seek the similar pattern of ecosystem cooperation between Bancor and MASK.

• MASK Network is also starting a Social Defi Aliance that aims to help Defi get mass adoption from regular social network users. From the Wall Street Bet Revolution to Tik Tok investors to the ultra addictive Crypto Twitter, social and finance has proven to be more than a natural fit as we’ve seen from numerous examples. Mask hopes to do this along with Bancor and the rest of the Defi community.