MetaMask has added PancakeSwap into their built-in token swap! Here is some information about the integration and potential effects for users.
The Integration
PancakeSwap has been integrated into MetaMask’s built-in token swap feature, joining the likes of Uniswap, AirSwap, 0x API, 1inch.exchange, Paraswap, Totle, and dex.ag as a source of decentralized liquidity on the platform. To access the PancakeSwap AMM, users must first integrate the Binance Smart Chain (BSC) into their MetaMask wallet. Despite the rapid growth of the BSC ecosystem there are as yet no indications of when BSC might enjoy native support and parity with Ethereum. There are however, a number of guides on how to set up BSC on MetaMask, including our setup tutorial.
Once connected to the BSC, activating the token swap feature could hardly be any easier for users. Ensuring that the MetaMask wallet is connected to the Binance Smart Chain, a user can then click “swap” to begin the process. To demonstrate how the process works with greater clarity, PancakeSwap has produced an easy-to-follow infographic (see above). In a matter of clicks users can access and activate the PancakeSwap AMM and exchange their tokens with ease.
Despite MetaMask being slow to integrate BSC projects, the same cannot be said of BSC Decentralized Applications (dApps) integrating MetaMask. Once a MetaMask account is enabled with Binance Smart Chain it can swiftly be set to operate on a huge range of BSC protocols, including PancakeBunny, WOWswap, Wault.Finance and of course, PancakeSwap.
Catalyst For Growth
Since MetaMask first implemented its token swap function in October of 2020, the web wallet has seen growth on top of its already-solid standing. MetaMask recently surpassed 5 million monthly users, recording 5x growth in the past 6 months. A growing number of these customers are also using MetaMask swaps, with $2 billion in accumulated transaction volume in the same period.
According to data from Dune Analytics, the total volume of swaps occurring via MetaMask is accelerating. While daily swaps were in the low hundreds/ thousands last year the figure now comfortably sits at five figures. The value of swaps has also increased over the same period, from hundreds of thousands of dollars to a peak of $64 million on May 4th.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
