Matcha has launched its Cross Chain Swap functionality, allowing customers to move their assets seamlessly across seven networks. It brings aggregated liquidity from over a hundred decentralized exchanges. The idea is to eliminate the decision-making process for customers, wherein they spend a lot of time selecting the bridge that is best in terms of cost and security.
Moreover, it facilitates the process of NFT minting via cross-chain features. The Cross-Chain feature is available in the trade module. Customers only have to access the official Matcha website and open the Cross Chain tab.
Next, customers must select the token they want to move to a supported network and the token to which they want to move to another network. When customers enter the amount, the system displays a quotation. Customers can review and place the order to confirm the transaction.
Socket API has been utilized to integrate the functionality into Matcha. The said API has been chosen for its ease of use and security advantages. Also, it falls in the line of backing the operations of partners like Rainbow, Coinbase, and MetaMask, among others.
Cross Chain Swaps by Matcha help eliminate the complicated process of clicking several options to conclude the transactions. Customers can now, instead, rely on a single click or a few clicks to confirm their actions.
Matcha simply converts the token into a compatible token, looks for an optimal route, and then delivers the desired result. The process has been defined by its speed, simplicity, and transparent routing.
Matcha ensures that customers are not affected by the price by eliminating limits on liquidity sources.
It has been acknowledged that finding healthy liquidity on a low market cap can be challenging. It excels in bringing together all available liquidity to help customers execute their trades across different networks and sources.
Estimates showcase that almost 3.7 million wallets are active on different chains every month. Meaning there is a dire need for a mechanism like Matcha. Customers who hail from different backgrounds will find the mechanism beneficial. This includes those who:-
- Want to diversify their portfolios
- Manage their Web3 portfolio better
- Need the flexibility of low-cost chains
- Chase large yields
- Look for a perfect NFT
Customers from all backgrounds can experiment with Cross Chain Swaps to see how it can benefit them. However, it intends to assist consumers who want to diversify their portfolio by having access to supported chains.
Cross-chain accessibility helps customers spread their portfolios without worrying about the limits of their reach. Considering the way the crypto sphere is making a comeback from its winter season, traders would want a higher and more convenient cross-chain reach not to miss any opportunity that comes their way. It is largely to save their time and for convenience that they otherwise have to look for.