MetaMask, a product of Ethereum software company ConsenSys, has recently launched the swap functionality for its users.
This feature allows the wallet’s users to swap different cryptocurrency assets directly through the MetaMask interface. The swap feature will be released first for the Firefox browser extension. The platform is also planning to embed this feature shortly for other browser extensions and MetaMask mobile.
To provide the best exchange rate along with the lowest network fees, the platform combines multiple decentralized exchange aggregators, professional market makers, and individual DEXs like Uniswap, AirSwap, 0x API, 1inch exchange, Paraswap, Totle, and dex.ag. Now users can easily see the best available price without navigating these decentralized liquidity sources.
How to use the swap
Login to your MetaMask wallet.
The wallet landing page looks like this. You can see the new Swap button appearing after the latest application update.
To swap, click on the Swap button.
Users need to enter the input and output token type and input token value.
The application allows you the ability to adjust the slippage percentage.
Click on Get Quotes to see the best available quotes.
You can customize the gas fee if you want by selecting the Edit button of the Max network fee.
If you are satisfied with the quotes and gas fee, then click on the Swap button.
Your transaction activity is submitted.
You can see the transaction status in etherscan.
Once the status changes to Success, you can see the newly swapped BAND token in your wallet.
MetaMask is one of the famous Ethereum wallets. The platform has recently reported approximately 264,000 monthly active users.
With the introduction of mobile wallets and now the swap feature for the Firefox extension, we can expect a sharp rise in the number of MetaMask wallet users in the near future.