MetaMask Now Allows Users to Swap Tokens on Mobile Wallets

  • Previously only available for the Web Wallet, the Swaps feature launched on the MetaMask Mobile Wallet.
  • MetaMask Swaps requires fewer approvals, reduces gas costs, and provides slippage protection.
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On 17 March, ConsenSys announced the launch of the Swap feature for its MetaMask mobile wallet, which offers low network fees by combining data from AMMs, professional market makers, requests for quotes (RFQs), and individual decentralized exchanges (DEXs). The wallet then aggregates the gathered information and gives users more choices when it comes to accessing liquidity.

A service fee of 0.875% is automatically factored into each quote and will go towards supporting the ongoing development of the platform, the company said.

Another significant improvement coming with the Swaps feature is the need for fewer approvals. With Swaps, mobile users only need to approve each token once to gain access to all the available liquidity. This reduces gas costs and shortens the time needed to execute the swap.

MetaMask Swaps also offer improved slippage protection. When swapping large amounts of tokens on MetaMask Mobile, orders are spread across virtually all available DEXs, AMMs, and RFQs to reduce slippage impact on the execution price.

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