With every passing day, we are always treated to one achievement in the economy’s financial space or another. While the centralized crypto sector is something that has been given the thumbs up over the years, the decentralized finance sector is proving to be much more.
But despite the many ills in the sector, the traders are not backing down from gaining from the profits that the sector has to offer. In a new development, Metamask has announced that it would henceforth allow users to swap their Ethereum to other ERC20 tokens. In the service that has gone live today, Metamask Swaps, the wallet, claimed that users could do that from their mobile phones.
Metamask Swaps was previously a web-only service
Before the launch of this mobile-based swap service, the wallet previously rolled out a version of the service on its web-based platform. With the service, users who were based on the web were allowed to swap their Ethereum tokens, giving them a feel of a decentralized exchange.
In the press release, the firm pointed out that Metamask mobile users would officially be allowed to join the swap service paying a low cost and at the best price when carrying out their activities.
The release also mentioned that the integration was made possible by accumulating data from various automated market markers, professional market markers, and some decentralized exchanges in the sector.
The wallet says that their users need not look for decentralized exchanges if they are looking for liquidity and other tokens. They pointed out that with their updated user interface, they would do that with just a tap of a button. Also, users who want to use the service need not bother about high fees as the firm has promised to levy the same fees that web users are charged.
Metamask records massive swap volume
Metamask has also mentioned that they would make sure that all transactions pass through just one confirmation in their bid to help save costs. “The swaps help our users pick out the best trade options with very good prices and which would help them reduce the gas needed to confirm transactions,” Metamask said. Metamask was developed by Consensys as an initial wallet extension on Chrome and Firefox browsers but is now an independent wallet.
In the last few months, the company has seen great revenue from the charges that they get from the swaps carried out in the wallet. The developers were able to develop and launch a metrics market using Dune analytics. This was because they felt the ones that they previously developed were not giving back the correct figures.
In their dashboard, the figures that read there notes that the total volume of swaps carried out is now $1.23 billion. This shows that they have recorded a doubled revenue since they started. The new swap is available to both Android users and apple device users.
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