MetaMask, the crypto wallet browser extension developed by ConsenSys, announced this Monday that it has successfully reached the 1 million monthly users milestone. According to the announcement, this development is largely due to the still-growing interest and demand surrounding decentralized finance (DeFi) applications, blockchain games, and DAOs.
MetaMask wallet is a browser extension dedicated to accessing Ethereum-supported distributed applications (dapps). Basically, MetaMesk reads Ethereum code on any given website, thus, providing its users with a more straightforward interaction with blockchain products and varying dapps.
As briefly mentioned above, the surge in users MetaMask currently experiences mirrors the meteoric rise DeFi protocols and applications currently see. The firm states that more and more users are now looking into MetaMask for the sole purpose of being able to participate in the booming decentralized finance sector. This is evidenced by the upward trend both parties have in terms of new users this 2020.
MetaMask capitalizes on this by introducing a brand new feature
A day after they reached the 1M milestone, MetaMask announces a brand new feature that enables users to swap their tokens within the browser extensions and its native mobile application. This new swapping feature is expected to improve user experience as they are now automatically routed to a service. Notably, the token-swapping feature will initially launch on the Firefox extension version, while the other browsers and MetaMask mobile app will soon follow.
The product lead of MetaMask, Jacob Cantele, stated that the company believes that better transparency and productivity of Ethereum on DeFi will translate to a far greater network experience for everyone. That is precisely what the firm is aiming for with this brand new feature.