Learn about DEX optimization aggregator MetaMask Swaps in 3 minutes

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2020-10-14 11:01 (UTC+8)

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Combining multiple decentralized aggregators, professional market makers and independent DEXs, what surprises will MetaMask Swaps bring us?

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Combining multiple decentralized aggregators, professional market makers and independent DEXs, what surprises will MetaMask Swaps bring us?

Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc)Editor's Note: This article comes from

Babbitt Information (ID: bitcoin8btc)

, author: metamask, compilation: overnight porridge, released with authorization.

On October 14th, MetaMask, a DeFi wallet provider with over one million users, officially launched the DEX aggregation service MetaMask Swaps today. It is reported that the service combines multiple decentralized aggregators, professional market makers and independent DEX (such as AirSwap) to ensure that MetaMask users always get the best transaction price with the lowest network fees.

Currently, MetaMask has supported Firefox browser users to experience the service, while users of other browsers and MetaMask Mobile still need to wait for some time.

In recent months, the cryptocurrency community has witnessed the mass adoption of decentralized exchanges (DEX), which offer more trading pairs when trading compared to centralized exchanges (CEX), and enable Non-custodial transaction function, which can make funds more secure. However, DEX users often do not get the best price when there is insufficient liquidity or when a certain DEX does not have the best price available.

Assuming these problems can be effectively solved, we can remove friction for a large number of potential users, facilitate access to Web 3.0 and DeFi, and improve the efficiency of these systems. That’s why MetaMask is working with ConsenSys’ AirSwap team to build Swaps: a feature that allows any Web3 and DeFi user to easily access the tokens they need.hereWhile focusing on user experience, MetaMask Swaps also prioritizes security. Its underlying smart contracts have been audited by ConsenSys Diligence. You can find its audit report at

here

turn up.

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Use MetaMask to compare prices and exchange tokens directly
According to the official introduction of MetaMask, MetaMask Swaps has the following characteristics:
Find the best price for every transaction. By requesting prices from all available aggregators and various market makers, MetaMask Swaps ensures that every MetaMask user always has access to the maximum liquidity, the largest selection of tokens, and the most competitive prices.

Reduce gas costs. Each aggregator takes a different path to locate the best transaction, and each path requires a different amount of gas to be aware of the transaction, while MetaMask Swaps takes the best price and determines which aggregator is right for each transaction It is the most gas-saving.

Slippage protection. Large trades are often subject to price fluctuations when the available liquidity on a particular DEX is insufficient. When trading with MetaMask Swaps, orders are dispersed in almost all DEXs to reduce the impact of slippage on the final price.

MetaMask Swaps is currently available as a Firefox extension and will soon be extended to other browsers as well as MetaMask Mobile.
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Steps for usage
Open the MetaMask extension;
Click the new 'Swap' button (the next step is 'Buy' and 'Send');
Let MetaMask do its magic;