MetaMask Launches Integrated Bridge Feature
Users Can Bridge Up To $10,000 Across Blockchains
By: Tarang Khaitan •DeFi News
MetaMask, the leading web3 wallet provider, has released MetaMask Bridges, a bridge aggregation service. This feature allows users to transfer their assets across multiple blockchains from within the wallet.
Bridges has been launched in beta and is a part of the newly-launched MetaMask Portfolio dApp.
Users can bridge assets worth up to $10,000. Initially supported assets include ETH, WETH, stablecoins, and native gas tokens like Polygon’s MATIC.
The feature currently supports Ethereum and compatible networks Avalanche, Binance Smart Chain, and Polygon. The team plans to expand to Layer-2 blockchains Arbitrum and Optimism.
MetaMask will not charge any additional fees during the feature’s beta phase.
“Our team is committed to deeply understanding the evolving bridging space to provide the most secure experience possible so you feel confident when using MetaMask Bridges.” the blog post read.
In March, ConsenSys founder Joseph Lubin confirmed the company’s plan to launch a MetaMask token, in a bid to decentralize the wallet provider.
In 2022, the number of bridge exploits has risen drastically, with many suffering nine-figure losses.
Harmony’s Horizon bridge was exploited for $100M. North Korea’s state-sponsored Lazarus Group is suspected to be behind the theft.
Wormhole, a protocol which allows users to bridge assets between Solana and other blockchains, was exploited for $320M.
Binance Smart Chain had to be paused after its official bridge was hacked and drained of $560M worth of BNB tokens.
The largest exploit of 2022 so far has been that of Axie Infinity’s Ronin bridge, which was used to connect its Ronin sidechain with Ethereum. Hackers managed to steal more than $600M in March.