How to Earn Rewards on Metamask | Full Beginners Guide

[00:02] has finally been confirmed alongside a newly introduced rewards program. So, in to maximize points to get the most rewards as possible, as well as hopefully the biggest token airdrop as possible and just some general opinions

[00:16] gentlemen, welcome back to another CryptoGorilla video. As usual, I am not a financial adviser. I have zero control over the performance of Mask, how good your airdrop is, if this rewards program actually lives up to the hype. So,

[00:30] always do your own research, but if you appreciate me doing the research and making this content consistently, would you kindly hit that subscribe button and let's jump right into today's video. So, the rewards program is not currently

[00:43] live on the browserbased version of the MetaMask plug-in. You are going to need I'll put a referral link in the description down below. But if you're using the same wallet on your browser and on mobile, all your activity is

[00:57] be rewarded for it. You could just only see the rewards on the mobile app. Now, if you don't see the rewards on the bottom right, you probably have to force an update in the app store. If it still doesn't work, I have seen cases where

[01:12] people had to fully uninstall MetaMask and reinstall it. If you do that, just make sure you have your seed phrase or private key saved. That way, you don't lose your wallet. But assuming you have figured it out and you have the app

[01:24] installed, you're just going to go to the bottom right to rewards where it's going to prompt you to use a referral code. Now, to get a bonus 250 points as well as a 2x signup bonus, you could use my code, which I'll put in the

[01:37] description so you can copy paste it. It is 3 P3 BXP. And like I said, it's going to get you a point bonus. Now, your goal here is to get as many points as possible to level up, for which there's four different ways to get points. The

[01:52] first way is by performing swaps. You get 80 points for every $100 you spend in volume. But keep in mind, the MetaMask fee is really expensive. You are spending 0.85% in fees whenever you swap. That is really high compared to

[02:08] know some of you are going to want to wash trade because you're like, "Oh, $100, it's only85. Who cares?" This adds up very quickly. If you look how fast it compounds, if you have $100 and you swap it 100 times, that is $57.30

[02:25] of fees. Over 50% of your money is just going to OpenC. So keep that in mind before you wash trade. Just use the product organically. If not, this is just a rewards program. It is not directly the airdrop. even though this

[02:39] does count towards the airdrop. So, don't feel obligated to level up as far as possible. Now, the second way to get points is going to be by using per because they recently introduced per to MetaMask and soon they're going to have

[02:51] app. I assume there's going to be rewards for that. But for every $100 you do in pers, you are going to get 10 points. Just like with swaps, please do doing trading pers. If not, you're going to get liquidated. you're going to lose

[03:07] rewards program is probably not going to make up for that. So, do not get liquidated chasing these rewards. The third way to earn points is going to be by referring others. For every 50 points someone you referred earns, you are

[03:21] going to get 10 points. So, you get 20% of their points. Again, my code is in the description down below. And then the final way is through a loyalty bonus, which is all of the OG activity you have on your wallet. And you can link

[03:35] on your wallet. And you can link multiple wallets. So for every $1,250 in either swap or bridge volume that you've done using MetaMask, not another bridge MetaMask, you have to have done the swap or the bridge using MetaMask with their

[03:49] higher fees. You are going to get 250 points up to 50,000 points. I assume wallets, it's really easy. On the bottom left, you go to home. You click on your current wallet. On the bottom, you do add wallet. Import an account. You put

[04:04] in your private key and then when you go back to rewards, it's going to prompt you to link it to opt into the program with that wallet. If for some reason you missed the optin button, on the top right there's a cog. Just click that and

[04:18] you're going to be able to add the wallet directly from this page. So those throughout the season. As you can see on the top right, a season or this season has 85 days left in it. A total season is 90 days. So you haven't missed much,

[04:31] just less than a week. And like I said, your goal is to level up as much as possible. Now, there are some ways to boost your levels. The first way are season boosts. As you can see, there's two right here. One of them is by doing

[04:44] uh swaps on your mobile device. So, you get a 1.5x boost on your swap points. Meaning, instead of 80 points for $100, you're earning 120 points for $100 of

[04:56] volume if you use your mobile device. Like I said, the rewards program isn't visible on desktop, but all of your activity still counts towards this program, but you get a boost if you use your mobile device. You also get 2x

[05:08] points if you are swapping Lineia, which is the main token from Consensus, the also going to get additional rewards and boosts as you level up. Here, you can see I've already unlocked two. One of them is a time limited, so only 24 hours

[05:23] when I activate this. So use it strategically. If you have a lot of swaps to do, you could use it before then. I get a point bonus here, 50%. I also get a line token airdrop, but I only get it at the end of the season.

[05:36] rewards campaign. Here they say that they have put in $30 million into the rewards pool to reward users of this campaign. Now, as I continue to level up here, I'm going to get more rewards. I'm going to get some reduced fees on

[05:51] trading, priority support. I'm going to get into the VIP club, which is like a private Telegram for MetaMask users. And then finally, a metal credit card.

[06:03] available in these eight countries. They did have a pilot program in the US, but it does seem like it is currently closed, but that level is really hard to get to. Anyways, the level 7 Utopia, you can see it takes 5 million points, which

[06:17] can see it takes 5 million points, which would take $6.25 25 million of volume which would cost roughly $53,000 in fees. So please do not wash trade your way there. It is not worth it in my opinion. So this is the rewards program

[06:32] going to be activity. Here you could see all the points you've earned through referrals, through linking your wallets, through the swaps, per trading and all that. So what do I think about the rewards program? I am seeing a ton of

[06:45] negative posts on the timeline. people saying we're being farmed. Even Rabby, a them when they're down here, saying, "Oh, they're just farming them." Yes, a rewards program is incentivizing users to trade, to spend money so they can

[07:01] earn more fees and increase their user base. This is separate from the token airdrop. If a web 2 company was doing a campaign like this, nobody would care. but because we want that token, right? We've been using the product for years.

[07:13] We deserve it. We think like we're entitled and they have no right to try to increase the value of their company by running something like this. But nobody is forcing you to participate in it. You already have years of volume

[07:25] using MetaMask that is going to count towards the airdrop. Here they say the MetaMask rewards and MetaMask token are two separate things. So don't feel two separate things. So don't feel obligated to go burn $1,000 on fees.

[07:38] know people are going to do this and they're kind of taking advantage of the token yet? 100%. Here you can see the first thing Michael says, who's senior BD manager at Consensus and product safety at MetaMask, he says, "Yes, we

[07:52] have an airdrop." And they're teasing you here with a token. So, they're obviously going to do it to increase the value of their company, right? They have an IPO that Consensus is trying to do. They want high valuation as possible.

[08:06] Their goal at the end of the day is profit and our goal is to get free free just an exchange. So, they're going to do what they can to increase their fees and increase their user base. Now, like I said, the rewards program is separate

[08:21] that you're doing or everything you're doing does count towards an airdrop. The rewards program kind of reveals what they prioritize. So, they clearly prioritize swaps and bridging. They clearly prioritize using their their

[08:37] products like pers and I assume soon poly market. And then some additional stuff that I think they're potentially going to consider is have you staked using uh through MetaMask. So if you click your wallet, you go to the website

[08:50] here and then you go to more crypto stake, you can actually stake your ETH and there's staking. There's also liquid staking through Lido or Rocketpool. So this could potentially be something that they consider towards a token airdrop.

[09:04] They can also consider if you hold Lineia, if you got the Lineia airdrop and you've held it, you never sold it. Because here along with the rewards pool in Lineia, they say this is just the beginning. All linear rewards earned and

[09:17] held through MetaMask rewards will count towards future rewards. So they clearly value people holding their token. And then they can do the same thing for their stable coin MUSD. when it comes to their their credit card, they have a

[09:31] rewards program that rewards you in MUSD. So maybe they're going to, you holding the stable coin. And then the final way they could reward people for with a token airdrop is going to be by using their credit card. Again,

[09:44] unfortunately, it is limited based on your country. So not everyone has access to this, but it wouldn't shock me if you know if I had 100k volume on the credit card if that got a little bit of consideration towards an airdrop. As far

[09:57] as how well will the token do, I have no idea. One thing I am thinking about is literally everyone I've ever met in web 3 has exposure to MetaMask, they probably have a 100 wallets, if not more, that they've done trades on. So,

[10:10] how big is the token airdrop going to be per person? I have no idea. So, is it of us? Probably not. I think a lot of people overestimate how much they've actually spent in fees through MetaMask. Your gas fees on ETH do not count as

[10:26] MetaMask fees. When you've signed, you know, a thousand transactions minting know, a thousand transactions minting NFTTS or enga or approving a contract, that doesn't go to MetaMask. That is gas that you are burning to transact on ETH.

[10:39] The way they make money is when you do token swaps, when you do bridges on MetaMask, not a third party website that you signed with MetaMask directly in MetaMask. So, I think a lot of people are overestimating how much they've

[10:51] actually spent or given to Consensus in terms of fees. But regardless, I do because you get those OG points because you could refer others. Maybe you do end points, and it gets you a bigger airdrop. But like I said, do not wash

[11:06] trade. Do not burn money on fees chasing an airdrop that could potentially be worth like $7. But with that, that is the end of today's video. I hope you there's a topic you would like me to cover, let me know in the comment

[11:20] section down below and I will get to it as fast as possible. While you're down it really helps my channel reach a wider audience. If you haven't already done button, smash that bell notification, thank you for watching another

[11:34] Cryptogorilla video. Peace. Peace. [music]