After the September release of the Portfolio Dapp, MetaMask, a software cryptocurrency wallet that interacts with the Ethereum blockchain, announced today it is going to roll out its most recent feature, “MetaMask Bridges.”
To determine the optimal paths for moving tokens from one chain to another, users can utilize MetaMask Bridges, a bridge aggregator. With a few clicks, users may quickly identify the ideal route choice, whether they are trying to save money or time.
The platform said to begin, select the “Portfolio site” link on the user’s Extension home page or open the MetaMask Mobile in-app browser and navigate to portfolio.metamask.io.
According to the platform’s blog post, multiple solutions were developed to support users jumping across chains due to increased bridging activity over the last year. People had a lot of options, but there was no way of knowing what would work best without doing some research first.
Users may simply utilize MetaMask Bridges to source the ideal path based on where they want to travel and what they want to carry with them, eliminating the need to search several bridges.
The blog post claimed that the beta version of the software offers “1:1 bridging of up to $10,000 per transfer of ETH/WETH,” popular stablecoins, and native gas tokens across several EVM networks, including Ethereum, Avalanche, Binance Smart Chain, and Polygon.
Two levels Of Integration Exist Between Bridge Providers
As per the platform’s post, Bridge aggregators and individual bridges are two tiers of integrated bridge providers. Socket and LI, and FI are two bridge aggregators with which the firm has direct integration.
They might quickly find paths to different bridges due to these providers, who likewise supply useful resources for a better customer experience.
Nevertheless, with assaults resulting in the theft of more than $2.5 billion through cross-chain bridge protocols in the previous two years, crypto bridges have emerged as a top target for hackers.
These occurrences include the cyberattacks on the Ronin and Poly Networks, which resulted in the theft of more than $1 billion from each platform.
Before deciding which bridge providers to use, according to MetaMask, a thorough vetting procedure was used. The distributor of cryptocurrency wallets further mentioned that the chosen bridges complied with decentralization and security standards.
Therefore, the platform clarified that it uses Socket and LI.Fi in order to support particular bridges which have been examined by their staff – starting with those suppliers, such as Connext, Hop, Celer cBridge, and Polygon Bridge.
Moreover, for bridging crypto during the beta release, MetaMask said that there would be no transaction fees. By adding Layer 2 chains like Optimism and Arbitrum, the platform hopes to increase its reach.
The platform said:
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.