Key Insights
- MetaMask launches Bridge Aggregator on its Portfolio decentralized app
- The bridge aggregator will enable users to transfer crypto tokens across multiple chains.
- MetaMask says the bridge aggregator will support Connext, Hop, Celer cBridge, and Polygon Bridge as its providers.
Until developers built Bridge aggregators, cross-chain crypto transfers were difficult to do. As smart and intuitive as blockchain technology is, this transfer from one chain to another was cumbersome.
Users found it difficult to transfer crypto tokens across multiple chains. These blockchain networks include Bitcoin, Ethereum, Avalanche, Polygon, Solana, and Arbitrum.
It is on this premise that developers are building bridge aggregators. Recently, MetaMask launched its bridge aggregator alongside its portfolio app.
MetaMask Bridge Aggregator With Blockchain Support
MetaMask, a crypto wallet provider, announced via a blog post that it had launched a new portfolio app. It said the portfolio app comes with a feature that will aggregate bridge services for crypto cross-chain transfers.
Similarly, the bridge aggregator feature will enable users who want to transfer their crypto tokens across different chains. They said the feature is now in beta testing (stage).
According to the company, the bridge aggregator will support four bridge providers: Connext, Hop, Celer cBridge, and Polygon Bridge.
Furthermore, MetaMask says the bridge aggregator will allow users to move up to $10,000 of supported tokens. These users can use bridge aggregators across any blockchain like Ethereum, Avalanche, BNB Smart Chain, and Polygon. The crypto wallet also plans to include layer-2 chains like Optimism and Arbitrum in its coverage area.
Reportedly, the tool would support tokens such as ether and wrapped ether— popular stablecoins such as DAI. Additionally, the bridge aggregator will enable users to find cheap routes for transferring coins across networks.
It revealed that it would not charge transaction fees for bridging crypto during the beta release.
You would recall that the Portfolio Dapp has gone live in Beta since September 2022. At the launch, users could examine numerous MetaMask accounts and their holdings in one location.
The Portfolio decentralized app now adds the new bridge option for all MetaMask users in beta. So MetaMask users can now update their app, join beta (plan) and send tokens across the supported chains.
Conclusion
Cross-chain bridges have become a vulnerable avenue for hackers to attack. The report shows that over $2.5 billion have been stolen from cross-chain bridge protocols in the last two years. With this MetaMask feature, the attack will be reduced as it says the bridge provider has high-security architecture.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.
