MetaMask, a division of Consensys, recently announced the release of MetaMask Bridges. A part of the Portfolio dApp, the MetaMask bridge is an aggregator that assists users to move between blockchains.
For a start, MetaMask Bridges will allow users to bridge up to an equivalent of $10,000 per transfer across the following EVM networks:
- Ethereum
- Avalanche
- BNB Chain
- Polygon
ENABLING UTILITY THROUGH PARTNERSHIP
To enable MetaMask Bridges, the product integrates with Li.Fi and Socket which are both bridge aggregators which enables the service to search routes through several bridges as well as provide utilities to achieve better user experience. Through Socket and LI.FI, MetaMask Bridges curated a set of individual bridges that have been vetted by their team and are starting with these providers:
- Celer Network’s cBridge
- Connext Network
- Hop Protocol
- Polygon Bridge
MetaMask Bridges is focused on helping users find the cheapest and/or fastest route. But how did they select the partners and bridges to utilize?
SELECTION AND VETTING
The MetaMask team vetted the bridges based on a high bar for security and decentralization. For the vetting process, the team explored:
- Network and token support – Supports MetaMask’s most used networks and tokens while providing robust support for native tokens and canonical stablecoins.
- Trust minimized design – the team explored bridges with the Atomic Swap, Canonical, Optimistic and Externally Validated models.
- Reliable and vetted – Recent and regular audits of the deployed contract code, battle tested with time/volume on mainnets, high liquidity and reliability with robust handling of failure cases.
The MetaMask team continues to evaluate other bridge providers for integration consideration and regularly monitor the bridges selected and their security.
MetaMask introducing bridges within their Portfolio dApp is a big vote of confidence for the utility provided by projects in the space. The cross-chain and interoperability space is still in its infancy stages and there are so much more to be done before the sector reaches maturity. But with continuous development and innovations in the space, we will see the space mature and become an integral component of blockchain utility.
To explore and try MetaMask Bridges, you can visit the section in the Portfolio dApp at https://portfolio.metamask.io/bridge