- MetaMask’s main benefit is that its users may keep full custody of their tokens.
- It will support Layer 2 networks like Arbitrum and Optimism for its Swaps functionality.
In a recent update, the widely used cryptocurrency wallet MetaMask stated that it will begin supporting Layer 2 networks like Arbitrum and Optimism for its Swaps functionality. In the past, only Ethereum, Binance Smart Chain (BSC), Polygon, and Avalanche could participate in MetaMask Swaps.
Users may aggregate data from many decentralized exchanges (DEXs) and market makers to get the best price and the lowest market fees when exchanging tokens straight from their desktop or mobile wallets using MetaMask Swaps.
MetaMask Swaps expedites the process of exchanging tokens by requiring fewer permits and providing slippage insurance. The added ease of being able to handle finances without leaving a computer or mobile device is another key perk.
Self-custodial Wallet on the Rise
MetaMask’s main benefit is that its users may keep full custody of their tokens. Users may trade crypto tokens without joining a centralized exchange thanks to Swaps, which compiles data from DEX aggregators and market makers. MetaMask is a self-custodial wallet, so users retain complete control over their funds at all times.
Users will have additional options when making cryptocurrency investments because of MetaMask Swaps’ ability to get data from a decentralized exchange. MetaMask Swaps, a convenient hub for consolidating holdings in several wallets, NFTs, multi-chain token balances, etc., is now accessible through portfolio DApps.
MetaMask, a cryptocurrency wallet, revealed last week that it now accepts PayPal for in-app cryptocurrency purchases. Just when on-chain activity was increasing dramatically, MetaMask began supporting the Layer 2 Optimism blockchain. Optimism’s TVL (total value locked) has also been growing. Santiment, an on-chain data aggregator, reports that the amount of transactions using stablecoins on Optimism has suddenly skyrocketed.
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Source: https://thenewscrypto.com/metamask-adds-layer-2-networks-support-for-swaps-functionality/