ConsenSys announced the release of the new MetaMask Bridges in the dApp Portfolio in its beta version. The new bridge will support Ethereum Virtual Machine (EVM) compatible chains such as Avalanche, BNB Chain and Polygon.
MetaMask Bridges: ConsenSys announces beta release
Today, ConsenSys released the beta version of the new MetaMask Bridges that aggregates several bridge services so that users can compare available options based on price and speed estimates in one place.
Basically, while previously users who wanted to move tokens from one blockchain network to another had to do research to find a reliable and secure bridge, now, instead, they will be able to find the answers directly in MetaMask’s dApp Portfolio.
This is a creation of more than 60 bridges with different security, trust and risk profiles, through which tokens can be transferred from one network to another in just a few clicks.
The new feature of the leading Web3 self-custodial crypto wallet supports Ethereum Virtual Machine (EVM)-compatible blockchains such as Avalanche, BNB Chain and Polygon.
Not only that, MetaMask Bridges will enable 1:1 bridge transfers of ETH/WETH, common stablecoins and native gas tokens. Bridges available on the platform are and will be continuously monitored to ensure security, high liquidity and reliability standards and include Connext, Hop, Celer cBridge and Polygon Bridge.
MetaMask Bridges: how the new aggregator between Blockchains works
To give a general idea, just as a bridge connects two physical locations, the different bridges work by connecting two different blockchains.
With this in mind, the new MetaMask Bridges feature acts as an aggregator to compare prices and recommendations, just like what happens with aggregator websites that compare flight and hotel prices. In this way, the user using the MetaMask Bridges extension will be able to access the best bridge to securely transfer funds and tokens from one blockchain to another.
In this regard, Angela Potter, product manager of MetaMask Bridges, said:
“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 Dapp.”
Thus, the user will be able to enter the desired source blockchain, target network, and token they wish to transfer and evaluate the various options offered among multiple providers.
At the moment, the beta version will allow users to bridge up to $10,000 per transfer and will provide a better and more user-friendly experience for users wishing to cross blockchains. Not only that, at this beta stage, MetaMask will not add additional costs while it may make improvements in the coming months.
The Grants DAO program
In late October, ConsenSys, Joseph Lubin‘s US-based company that owns the MetaMask wallet, also launched the MetaMask Grants DAO, with a mission to fund the development of high-value projects in the ecosystem through a grant program.
So excited and proud to announce the launch of MetaMask Grants DAO: an employee-led, ConsenSys-funded program that issues grants to developers building impactful experiences within the @MetaMask ecosystem. 🧵👇https://t.co/zNSZ8kGjuD
— ConsenSys (@ConsenSys) October 27, 2022
“So excited and proud to announce the launch of MetaMask Grants DAO: an employee-led, ConsenSys-funded program that issues grants to developers building impactful experiences within the MetaMask ecosystem.”
In practice, developers in the community will find grants to be able to build services such as workshops or hackathons, Snaps, or MetaMask API features.
Self-custodial Web3 wallet access via bank account
Recently, MetaMask made it possible to buy crypto directly from a bank account by logging right in with the wallet.
In fact, thanks to ConsenSys’s collaboration with fintech company Sardine, it is now possible only in the United States to link a MetaMask login to bank accounts.
To move forward with this functionality, the companies have raised more than $50 million in funding.
Sardine is founder of a platform that facilitates the exchange between fiat and crypto currencies, making transactions immediate. In addition, the fintech company collaborates with FTX, MoonPay, Blockchain.com and Aitograph.