Mask Network (MASK)

Encrypted Messaging and Privacy

Mask Network allows users to send encrypted messages on popular social media platforms like Twitter, Facebook, Instagram, Minds, and Mirror. This means users can share private messages that only other Mask Network users can decrypt and read.

Cryptocurrency and Payments

Mask Network supports sending and receiving cryptocurrencies directly through social media. It also has a contract wallet on the Polygon network that lets users pay gas fees using the Mask Token.

Decentralized Applications (DApps)

Users can interact with decentralized apps such as DeFi (decentralized finance), NFTs, decentralized storage, and DAOs without leaving their favorite social media sites. This creates a decentralized app ecosystem on top of existing Web 2.0 platforms.

Identity and Asset Management

Mask Network integrates decentralized identity verification and wallet management, allowing users to securely manage their digital assets and establish trusted identity connections in an encrypted environment.

Governance and Community

The MASK token is used for governance in the MaskDAO, where each token represents a vote in decision-making processes. The network also supports initiatives like the Mask Grant Program to fund projects that contribute to the Mask Network ecosystem.

Bridging Web 2.0 and Web 3.0

Mask Network aims to bring Web 3.0 features to existing social media platforms, enabling users to access the benefits of decentralized internet technologies without switching platforms or using centralized servers.

Advantages

• Mask Network is a browser extension that adds Web 3.0 features to popular social media platforms like Twitter and Facebook, allowing users to send encrypted messages, perform crypto transactions, and participate in DeFi and NFT activities without leaving these platforms.
• It supports exchange between over 60 fiat currencies and cryptocurrencies, making crypto purchases easy and accessible.
• The platform integrates decentralized social messaging, borderless payments, and decentralized file storage, providing a convenient portal to Web 3.0 and decentralized finance.
• Mask Network offers privacy through end-to-end encryption, protecting user messages and content.
• It enables users to manage wallets, authorize contracts, and verify identity securely with decentralized identity verification.
• The Mask token (MASK) can be used to pay gas fees on the Polygon network and is tradable on multiple exchanges.
• The project has received backing from notable investors and integrates features like NFT marketplaces and DApplets to extend social media functionality.
• Mask Network bridges Web 2.0 and Web 3.0, making blockchain technology more accessible to everyday social media users.

Disadvantages

• The MASK token price has experienced significant volatility, including large price drops and market fluctuations influenced by factors like exchange delistings and whale movements.
• The market for Mask Network is relatively small, which can lead to price manipulation by large holders.
• Some features or wallets supporting MASK are limited to mobile platforms or require specific devices, which may restrict user access.
• The project faces challenges in maintaining price stability and market confidence amid competitive and regulatory pressures.
• Users must install a browser extension or app to access Mask Network features, which may be a barrier for some.

Overall, Mask Network offers innovative integration of crypto and social media with strong privacy and Web 3.0 tools, but its token price can be volatile and the ecosystem is still developing.

Founder

Mask Network was founded by Suji Yan, who is also the CEO of the project. He started Mask Network in 2017 and has been the key visionary behind its development.

Background of Founder

Suji Yan has a background in computer engineering from the University of Illinois Urbana-Champaign and has experience as an independent journalist and entrepreneur. He is known for integrating Web3 features into traditional social media platforms through Mask Network.

Team Leadership

Suji Yan leads the development team and is recognized as the main driving force behind Mask Network’s mission to bridge Web 2.0 and Web 3.0 technologies.

Major Investors and Venture Funds

Mask Network has attracted investment from a wide range of investors, totaling around 23 to 47 different backers depending on the source. Some of the notable investors include Hard Yaka, DWF Labs, Animoca Brands, Digital Currency Group (DCG), Longling Capital, 3Commas Capital, ArkStream Capital, Big Candle Capital, BTX Capital, and Byzantine Marine. The project has raised significant funding rounds, including a $50 million venture fund called Bonfire Union I.

Early and Notable Backers

Early investors include Balaji Srinivasan, Hashkey Capital, HashGlobal, Alameda Research, Sino Global Capital, and Digital Currency Group. Mask Network also raised $3 million in February 2021 from top investors such as Fundamental Labs, Moonwhale Ventures, AHP Investments, 3Commas, and Block0.

Additional Investors and Venture Capital

Other investors involved in various funding rounds are Amber Group, GSR Markets LTD, MARBLEX Corp., Bing Ventures, Web3Port Labs, Nonagon Capital, Polymorphic Capital, a16z Crypto Startup Accelerator (CSX), Forward Research, Social Graph Ventures, WAGMI Ventures, Redpoint, UpHonest Capital, Mirana Ventures, Sky9 Capital, Fenbushi Capital, NGC Ventures, AntAlpha, CyberConnect, Alchemy Pay, KuCoin Ventures, HTX Ventures, Gate Labs, Redline Labs, Cobo, SNZ Holding, ViaBTC Capital, MEXC Ventures, Unstoppable Domains, One Boat Capital, Delphi Ventures, D1 Ventures, Magnus Capital, Cogitent Ventures, Zee Prime Capital, Caballeros Capital, Formless Capital, DWeb3 Capital, SL2 Capital, Momentum 6, Fourth Revolution Capital, Stakewithus, NewTribe Capital, Autonomy Capital, Optic Capital, Emoote, BlockBuilders, OIG Capital, IBC Group, GSR Markets LTD, Basics Capital, Pragma Ventures, x21 Digital, Kyros Ventures, iAngels Capital, Wise3 Ventures, BITKRAFT Ventures, IDG Capital, Gam3Girl Ventures, Mantle Network, King River Capital, Yield Guild Games, Zentry, 32bit Ventures, Eden Holdings, Palm Drive Capital, Sebastien Borget, and Cristian Manea.

Founder and Leadership

The founder and CEO, Suji Yan, has also been involved in investments and has a background in finance and technology, leading the company since its founding in 2017.

In summary, Mask Network is supported by a diverse group of venture capital firms, crypto investment funds, and individual investors, reflecting strong interest from the crypto and blockchain investment community.

Halal Status of Mask Network

Mask Network is generally considered halal because it functions as a decentralized protocol enabling encrypted messaging, crypto payments, and decentralized file storage without involving impermissible activities like interest (riba) or prohibited goods. It serves as a utility and governance token within its ecosystem, focusing on privacy and user empowerment on social media platforms.

Reasoning

The token is used for governance, access to premium features, and rewards, which align with permissible activities under Islamic finance principles. There is no indication that Mask Network involves forbidden elements such as gambling, interest, or unethical business practices.

Answer: Yes, Mask Network is halal.