According to an official announcement from 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 the 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.
Bonfire Union, an investment institution under Mask Network, launched two venture capital funds, one at its establishment in 2022 and another 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, RSS3, and others such as Meson Network, Lens Protocol, and Scroll, which have not yet issued tokens. The tokens issued by these projects have the potential to become potential rewards for users staking MASK.
The news announcement has boosted the rebound of the MASK token, with a surge of over 28% in the past 24 hours.
