MetaMask expands its Swap to Layer 2s with Arbitrum and Optimism

MetaMask on Thursday announced an upgrade to its ecosystem. It has enabled the swaps feature on the Layer 2 networks, Optimism, and Arbitrum, including the Portfolio Dapp. MetaMask users can now swap directly from their wallets and use the feature on MetaMask’s Portfolio Dapp.

MetaMask is one of the leading self-custodial wallets, and it launched the MetaMask swap in 2020. MetaMask Swap has facilitated about $24 billion trade in cumulative volume since its launch.

MetaMask Swaps allows direct token swaps from desktop or mobile wallets. The MetaMask platform aggregates data from different decentralized exchanges (DEX) and market makers, enabling the viewing of multi-chain token balances, and NFT interactions. It offers users in the MetaMask platform a bridge to various networks. 

The MetaMask Swaps function was initially deployed on Ethereum Mainnet, Binance Smart Chain (BSC), Polygon, and Avalanche, however, now it is expanding its offering to Layer 2 with Arbitrum and Optimism.

This swap feature on Metamask allows token swaps with fewer approvals, and slippage protection, MetaMask said. MetaMask emphasized that “swapping directly within MetaMask means you never have to leave the desktop/mobile wallet, or dapp. Everything is conducted in one place, allowing you to manage your assets easily.”

MetaMask explained that Swaps gather data from DEXs and market markers, allow the swapping of one crypto to another, and access cryptocurrencies that may not be available on centralized exchanges.

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