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Whereby the user is expected to install a Mask browser extension in order to access the Public Twitter Offering (PTO).
MASK Network is set to take advantage of Web 3.0 through a $MASK Public Twitter Offering (PTO). Notably, the MASK network will conduct a Public Twitter Offering (PTO) that will consist of three segments namely, Initial Twitter Offering (ITO), Liquidity Bootstrapping Pool (LBP), and Airdrop.
The public Twitter offering is set to take place in different stages according to a predetermined timeline set by the developers. Whereby the user is expected to install a Mask browser extension in order to access the Public Twitter Offering (PTO). Then the users will be able to purchase a $MASK token, and also unlock cool features through the normal Twitter app.
Distribution of the $MASK Public Twitter Offering (PTO)
According to Mask Network, a total of 8% of $MASK will be distributed to kickstart the project.
One of the selected distribution processes of the $MASK Public Twitter Offering (PTO), the Initial Twitter Offering, will be allotted approximately 3% of the $MASK tokens. Besides, it will encompass a fixed selling price, Mask Network noted.
Moreover, Mask Network provided the different cryptocurrencies to be used in the Initial Twitter offering to purchase $MUSK tokens. “$MASK can be bought with $USDT, $USDC, $DAI, $BUSD, $HUSD and $ETH. Each address will only be allowed to purchase a maximum of 2000 $MASK token each round,” the company wrote.
The company further noted that in order to ensure a fair distribution of the token, the Initial Twitter Offering will be undertaken in three consecutive rounds.
The next distribution process, the Liquidity Bootstrapping Pool (LBP), will be allotted approximately 4% of the $MUSK tokens. Furthermore, the company will use Balancer’s LBP to allow users to subscribe for the remaining tokens before the market trading begins.
Notably, the LBP distribution process will take place in 36 hours starting on February 23 and ends on February 25. A total of 4 million $MASK tokens will be sold, whereby the only accepted currency for this stage will be the USDC.
As for the Airdrop distribution stage, a total of approximately 1% $MASK tokens will be given to successful applicants. “We estimate that the airdrop will cover ~20,000 unique addresses. Normal users would receive 50 $MASK, while Power users could get over 400 $MASK in total. The reward decreases linearly by 20% every day if unclaimed and the reduction will go back to the MaskDAO,” the company noted.
The project has attracted a huge crypto community’s attention, especially on Twitter where users are asking how to access the Airdrop. Notably, the Mask network has, however, warned users of possible scams being circulated on different social media platforms to reap off unsuspecting customers.