MetaMask Brings Token Swaps to Mobile App

MetaMask, a popular Ethereum web wallet, has finally brought its mobile app up to speed by introducing token swaps. The feature allows users to exchange one crypto token for another directly from their phone. To do this, they can tap the 'Swap' button in the new version of MetaMask Mobile, choose the tokens to exchange, select a quote, and then swipe to perform the swap.

The estimated fees for the swap are shown above the 'Swipe to swap' button. For this feature, MetaMask is using multiple DEXs (decentralized exchanges) and AMMs (automated market makers) to find the best price for a particular token. This approach also reduces gas costs, as the company's calculations of gas prices take into account network congestion.

MetaMask employs slippage protection by spreading orders across multiple exchanges to reduce slippage costs. The service fee for MetaMask swaps is 0.875 percent, which is automatically factored into each quote and used to support ongoing development of the app.