MetaMask Gets Into the Decentralized Exchange Aggregation Business With Token Swaps

MetaMask, a wholly owned product of Ethereum software company ConsenSys, is probably the most popular way for users to access the Ethereum blockchain.

The token-swapping feature will release first on its Firefox browser extension, before adding extensions for other browsers and MetaMask mobile.

MetaMask also announced Monday it had reached 1 million monthly active users.

By building a token-swapping function into MetaMask itself, it should improve the user experience by automatically routing users to a service, cutting out a step.

MetaMask will seek the best exchange rate for any given trade, accessing all the best-known places to conduct an exchange.

The MetaMask announcement lists services such as Uniswap, Kyber, ParaSwap, 1inch.

It should be noted this service really isn't any different than what existing decentralized exchange aggregators purport to do, but MetaMask has a big advantage.

Odds are, most users of those aggregators already used MetaMask to access them, so if the same users can do the same thing directly in MetaMask, many likely will.

This new service is the latest step in monetizing MetaMask.

In late 2019, MetaMask began monetizing by charging a small fee on fiat to Ethereum exchanges facilitated over the application, according to Beck.Disclosure.