The “MetaMask” platform now supports the ability to exchange digital currencies in smart phone wallets
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Answer The “MetaMask” platform now supports the ability to exchange digital currencies in smart phone wallets
According to a press release Spread Recently, MetaMask Swaps – a digital currency exchange service integrated into the MetaMask wallet – was launched on mobile devices.
Last October, it launched MetaMask Swaps, but it only supported MetaMask web wallets.
This service allows users to exchange Ethereum with a variety of Ethereum “ERC20” cryptocurrencies directly in their wallets, in addition to providing a decentralized exchange (DEX) service.
Starting yesterday, MetaMask mobile users can join the service that promises the best price and lowest network fee.
According to the announcement, this is achieved through a combination of data from automated and professional market makers as well as DEX platforms.
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The announcement included the following:
Instead of searching for the best prices among the various DEXs, MetaMask combines this information into an easy-to-use interface so that users have access to the greatest liquidity, the largest selection of tokens, and the most competitive prices.
The mobile version of Swap comes with the same 0.875% fee as the desktop version.
Each cryptocurrency only needs to be approved once, reducing gas costs to identify the best deals.
The developers of the “MetaMask Swaps” service said:
The exchanges and swaps are from sources that offer the best prices and determine the most efficient source of liquidity in the use of gas for each transaction.
When using MetaMask on mobile, orders are spread across all DEX trading platforms and AMM automated market makers to reduce the impact of slippage on the final price.
What is MetaMask?
“MetaMask” is an Ethereum wallet that depends on the user to store his cryptocurrency, that is, he does not store it with him, developed by the company “ConsenSys”.
The “MetaMask” wallet was originally available as an extension and add-on installed on the “Google Chrome” or “Mozilla” browser.
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Swaps made by MetaMask have been generating significant revenue over the past few months.
Recently, the developers launched an official metrics tracker on sand dune analytics.
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According to the data, the total volume of exchanges for the service “MetaMask Swaps” is currently more than 1.23 billion dollars.
Just yesterday, the platform made $22.2 million in trading volume.
Notably, transaction fees come to nearly $200,000 in a single day.
This means that MetaMask Swaps revenue has doubled from what it was a month ago.
MetaMask Swaps services are available on both iOS and Android devices.
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