DeFi

MetaMask Bridges Expands Cross-Chain Compatibility With Two Layer 2 Networks

Key Points:

MetaMask has expanded its cross-chain functionality to Optimism and Arbitrum.
With the addition of two expanding networks, MetaMask Bridges now supports a total of six bridging networks.

According to an official announcement made on Wednesday, the MetaMask cross-chain bridge aggregator will provide network and bridge compatibility for two additional significant networks this week.

With the addition of Optimism and Arbitrum, two expanding networks in the crypto world, MetaMask Bridges now supports a total of six bridging networks for the popular web wallet (Ethereum, Avalanche, BNB Chain, Polygon, Arbitrum, Optimism).

The wallet provider is continuing to invest in new products with a focus on usefulness in an effort to become a gathering place for cryptocurrency enthusiasts.

The inclusion of Optimism and Arbitrum signals the end of the beta testing for the MetaMask Bridges. Coming out of beta, the Bridges product will now have a bridging cost of less than 1% while also offering higher transfer limits and improved stability.

Cross-chain transactions are possible for ETH/WETH, stable currencies (like DAI), and native Gas tokens (such as MATIC). $50,000 is the maximum cross-chain sum.

Bridges is a notion that MetaMask refers to as a flight aggregator for bridges, using a carefully chosen group of bridges to offer a comprehensive solution.

The wallet lists Connext, Hop, Celer cBridge, and Polygon Bridge as its suite of bridge aggregates and gives customers the option to choose their own route or stick with the wallet’s default suggestion.

Despite being one of the few large chains without a native token, Arbitrum has completely taken over DeFi. As bear market circumstances have dominated market activity for the previous 6 to 8 months, Arbitrum has been home to ardent builders and DeFi fans.

Similar in outlook but with limited performance, optimism ranks 7th in overall DeFi TVL with close to $1 billion in currently locked money. Unlike Arbitrum, Optimism has a native platform token, and cross-chain technologies like Aave and Curve have helped the ecosystem succeed.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.