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MetaMask enters DeFi with an integrated Token Swapping service

Posted on Oct 8, 2020
MetaMask enters DeFi with an integrated Token Swapping service

MetaMask still remains the number one explorer for decentralized applications (dApps) courtesy of all the different features that it offers, letting the user interact with the decentralized web of tomorrow today.
Making things more exciting, the company is now venturing into the world of decentralized finance with a new feature that allows token swapping directly within the wallet.

According to reports, MetaMask will soon be enabling token swaps directly into its browser integrated wallet, with the feature to be initially featured on its Firefox browser extension, and later expanding to other browsers and eventually its mobile version.

The news comes right after the company recently announced that it has surpassed 1 million monthly users.

Until now, Ethereum users had to visit a specific decentralized exchange (DEX) or exchange aggregator to be able to sign in and swap the tokens. MetaMask is making the process more seamless by integrating the system in itself and automatically routing users to the service.

Adding to it, MetaMask will also be seeking the best exchange rate for every trade, while also scouting for the best platform to conduct the exchange. As such, the company has listed services such as Uniswap, Kyber, ParaSwap, 1inch.exchange and dex.ag. 

Overall, the token swapping service is similar to what is readily available with other exchange aggregators on the market right now, but MetaMask might have an edge over the rest.

It is likely that many of the users of these aggregators already use MetaMask to access them. Hence, it would be easier for them to execute the trade directly inside MetaMask.

Full article on https://thedailychain.com/metamask-enters-defi-with-an-integrated-token-swapping-service/

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