New York, NY, November 9, 2022 — Today, Consensys announced that users of MetaMask, the world’s leading Web3 self-custodial wallet, will now be able to bridge across multiple networks within the MetaMask Portfolio through a new feature called MetaMask Bridges. With the beta release of MetaMask Bridges, users can find a bridge for their needs using either the recommended bridge or comparing all the options available by price and speed estimates; tokens can then be transferred from one network to another in just a few clicks. In addition, all bridges available on the MetaMask Portfolio have been curated for security and decentralization.
In the same way that physical bridges connect two locations, blockchain bridges help to foster interoperability between different blockchains. This has led to over 60 bridges with different security, trust, and risk profiles being created. Users who look for flights or hotels probably use an aggregator to compare prices and recommendations. MetaMask Bridges is an extension of the logic that provides users with the best bridges to ensure that funds and tokens move safely from one chain to another.
“The growth in bridging solutions and usage has led to choice overload for users; MetaMask Bridges solves this by providing a single, easy-to-use interface for bridging through the MetaMask Portfolio ,” said Angela Potter, Product Manager for MetaMask Bridges.
MetaMask Bridges will support popular EVM Compatible Chains during the beta, such as Ethereum, Avalanche, BSC, and Polygon, and allow for 1:1 bridging transfers of ETH/WETH, common stablecoins, and native gas tokens. The bridges available on the platform have and will constantly be vetted for security, high liquidity, and reliability standards. They include Connext, Hop, Celer cBridge, and Polygon Bridge.
The MetaMask Bridges interface will be housed on the MetaMask Portfolio , launched last month in beta. The MetaMask Portfolio allows users to aggregate their assets across multiple accounts and networks. Available to both Extension and Mobile users, anyone can add an offline wallet or hardware wallet using the “watch any wallet” feature and name them to their liking, plus a toggle to the NFT page where users can get a holistic view of their digital art collection and other utility NFTs on Ethereum and Polygon.
How does MetaMask Bridges work
MetaMask Bridges allows users to enter their desired starting network, the destination network, and the token they want to bridge and compare options across multiple providers. Bridge providers are integrated into two layers: bridge aggregators and individual bridges. In addition, MetaMask integrates directly with Socket and LI.FI, which allows us to quickly search routes from several bridges for a better user experience. MetaMask supports a curated set of bridges that tick strong boxes for security and decentralization. This is an initial scope for the beta launch, but the MetaMask team will continue to evaluate other bridges and consider them for integration.
The beta version will allow users to bridge up to $10,000 per transfer and provide a better and easier-to-use experience for users looking to go across chains. MetaMask is not adding additional fees while this feature is in beta, but users can expect new functionalities and improvements over the next few months.
As the leading self-custodial wallet, MetaMask acts as a digital authority manager and portal for Web3 — only permitting websites and apps to access data that a user consents to. With the addition of MetaMask Bridges, MetaMask is creating safe spaces to ensure users can feel comfortable and confident while moving tokens from one chain to another by abstracting away the complexities of the bridging ecosystem in an easy-to-use way.
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ABOUT CONSENSYS
Consensys is a leading Ethereum and decentralized protocols software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, MetaMask Institutional, Truffle, Diligence and our NFT platform, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open-source foundation, we are building the digital economy of tomorrow. To explore our products and solutions, visit https://consensys.io.