Earlier this month, digital wallet MetaMask announced its desire to be the hub for crypto enthusiasts. To this end, it has partnered with Snaps to be able to support all tokens. This Wednesday, MetaMask officially announced important news, which is part of its new vision. Indeed, it has added two major networks to its ecosystem.
MetaMask expands its range of offers
The MetaMask wallet, which aims to support all non-native tokens, now extends to the Optimism and Arbitrum networks. The digital wallet can therefore now boast of having six bridging networks. These are: Ethereum, Polygon, Avalanche, Binance Smart Chain, Optimism and Arbitrum.
The addition of Ethereum’s two rapidly expanding scaling solutions marks a major milestone for MetaMask. It is the end of the beta phase of MetaMask Bridges. The MetaMask Bridges is a kind of aggregator for bridges. It aims to bring together a set of carefully selected decks to offer an all-in-one solution. MetaMask said its suite of bridge aggregators includes: Connext, Hop, Celer cBridge, and Polygon Bridge. Now that the beta phase of MetaMask Bridges is over, fees should be less than 1% for bridging.
That said, MetaMask also announced an increase in transfer limits. He increased these from $10,000 to $50,000. Furthermore, the portfolio claims to be more stable now. It should be clarified that it offers a wider range of offers, with these recent additions. Legacy offerings still available include swaps and staking, among others.
Arbitrum is a native tokenless network, which is widely used for DeFi. It now features around 200 native protocols, with nearly $2 billion in total TVL, according to DeFiLllama. The data reveals that despite the tough market conditions in 2022, Arbitrum served as a host for different DeFi builders. Meanwhile, Optimism is a native tokenized network approaching the $1 billion mark in locked funds. It owes its success to cross-chain tools like Aave and Curve. Much like Arbitrum, it has seen substantial growth during the bear market of 2022. That said, both networks are smart and strategic additions for MetaMask.
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