393
Views
0 CommentsPopular crypto wallet MetaMask has launched a new feature that will aggregate bridge services for users who want to transfer their crypto across different blockchains. The bridge aggregator shows users the best route for cross-chain token transfers.
In a blog post, MetaMask said that the service is part of its newly launched portfolio app and its release is in the beta stage.
A crypto bridge allows the transfer of tokens from one chain to another, and the process requires the use of a bridge provider. According to MetaMask, its bridge aggregator will support four bridge providers, including Connext, Celer cBridge, Hop, and Polygon Bridge.
Using any of these bridges across Ethereum, Avalanche, BNB Smart Chain, and Polygon, users will be able to move up to $10,000 of supported tokens. Supported tokens include ether and wrapped ether; popular stablecoins such as DAI; and native gas tokens like MATIC. The bridge aggregator will help users find the cheapest route for moving coins across supported networks.
MetaMask claimed it will not charge transaction fees for bridging crypto during the beta release. The platform is also looking to expand its coverage to Layer 2 chains like Optimism and Arbitrum.
Over the last two years, crypto bridges have become a prime target for hackers, leading to the theft of over $2.5 billion from cross-chain bridge protocols. Some of these incidents include the Ronin and Poly Network hacks that saw more than $1 billion stolen from both platforms.
MetaMask assured users that it carried out an extensive vetting process before selecting its preferred bridge providers. The crypto wallet provider said that the selected bridges met the requirements for security and decentralization.
Last week, MetaMask also partnered with NFTBank to power necessary pricing information with its new NFT portfolio product for about 5000 NFT collections owned by its users. MetaMask’s new feature intends to resolve NFT pricing complications using an advanced machine-learning algorithm.
