MetaMask Launches Perpetuals Trading, Plans Polymarket Integration
MetaMask launched its new perpetuals buying and selling service at this time, a mobile-focused platform powered by Hyperliquid. It gives as much as 40x leverage on over 150 EVM-compatible property.
This is a part of a broader development to pivot the agency from a pockets service to a broader buying and selling/funding hub. It will combine with Polymarket to supply prediction markets and different providers, however its infrastructure may not be as much as the problem.
MetaMask Pivots with Perpetuals
MetaMask, a crypto pockets platform, has been pursuing ambitious expansion goals over the previous few months, launching new partnerships to satisfy its goals.
Today, the corporate additional continued this long-term technique, launching perpetuals buying and selling on MetaMask’s cellular app:
The new perpetuals service, MetaMask Perps, is powered by Hyperliquid. It offers contracts based mostly on over 150 tokens, together with ETH, BTC, LINEA, XPL, and BONK. EVM compatibility is a normal rule of thumb for figuring out whether or not an asset is eligible.
According to MetaMask’s press release, the perpetuals contracts are only one element of the agency’s near-term targets. It additional confirmed that it plans to launch its own token quickly, and the corporate will launch its new Rewards program in October despite community backlash.
Together, the perpetuals buying and selling and different new merchandise will “set up MetaMask as an all-in-one self-custodial buying and selling and funding hub for world finance”, if all the pieces goes based on plan.
That is to say, these options are a part of a broader pivot, decreasing MetaMask’s pockets capabilities because the enterprise’s core focus.
Polymarket Integration and Safety Concerns
As one in every of these new providers, the corporate plans to accomplice with Polymarket, bringing prediction markets to its clients worldwide. These markets will embody all of the basic betting choices on these providers, like sports activities, politics, and token markets.
Still, this perpetuals buying and selling concept has earned some backlash from MetaMask’s neighborhood. This mobile-first platform will supply extremely dangerous trades, with as much as 40x leverage, with an immense risk for dealer losses.
Is MetaMask’s infrastructure ready to energy these trades, when one technical setback may spoil its customers?
In different phrases, these perpetuals could possibly be step one to revolutionizing MetaMask, however there are a lot of unanswered questions. Although the agency needs to turn out to be way more than a pockets app, its customers nonetheless want to truly take part.
If controversies maintain piling up, that might hinder on-chain exercise.
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