Rainbow plans to launch its native token RNBW in the fourth quarter

the non-custodial crypto wallet Rainbow announced that it will launch its native token RNBW by the end of this year.

This announcement follows the confirmation by Consensys founder Joe Lubin that MetaMask is preparing the MASK token. The Rainbow team stated that RNBW is part of "Phase Three," which will also include features such as DeFi portfolio management, multi-chain support, real-time pricing, and instant balance updates, along with perpetual contract trading powered by Hyperliquid. Rainbow launched a rewards program in 2023 to attract users and completed a $18 million Series A funding round led by the fund Seven Seven Six, founded by Reddit co-founder Alexis Ohanian, in 2022.