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Ethereum-based wallet MetaMask has introduced MetaMask Bridges, a bridge aggregator that allows users to find the “best routes” in moving their tokens from one chain to another.
“Increased bridging activity over the past year has led to multiple bridge solutions to accommodate users hopping across chains. While this introduced a slew of routes, it also added a layer of uncertainty around which one to pick. Now, MetaMask curates this for you and takes the extra guesswork out of the equation,” MetaMask said in a statement.
According to the web3 wallet, users can just use the MetaMask Bridges to source the route of the token they want to go to.
And with the current beta version, it will support the 1:1 bridging mechanism of up to $10,000 per transfer of ETH/WETH, common stablecoins, and native gas tokens across these EVM networks such as Ethereum, Avalanche, Binance Smart Chain, and Polygon, with no MetaMask fees as of the moment.
MetaMask also integrated two bridge aggregators, Socket and LI.FI., which will offer “a curated set of individual bridges vetted by our team,” with the providers Connext, Hop, Celer cBridge, and Polygon Bridge.
In addition, the wallet emphasized that one of the reasons it launched the bridge aggregator was to tighten the security of the platform:
“This past year—falling short of many a crypto enthusiast’s L222 expectations—has been rife with bridge exploits. Your crypto needs a secure way to travel. The security question is always, ‘How can the other side be convinced in a secure way to release the correct token amount to the correct person?’ and we take that into consideration every time we select a bridge aggregator and individual bridges.”
As of writing, there are two ways to access the bridge aggregator:
- Through MetaMask Browser Extension, just click the “Portfolio Site” section.
- Through MetaMask Mobile in-app browser, go to portfolio.metamask.io.
- The feature can be seen on the recently launched Portfolio Dapp of MetaMask.
“MetaMask Bridges aims to facilitate a smooth transition when you hop from one chain to another. The experience is frictionless, intuitive, and convenient. You don’t have to leave the dapp to get from Ethereum to Binance, you can hop over and view all your assets in the same place. Enjoy!” MetaMask concluded.
For the wallet’s first quarter report of 2022, the Philippines has the third highest number of MetaMask users, behind the United States and Brazil.
This article is published on BitPinas: Move Crypto Across Chains Using MetaMask Bridges
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.