Topic: DIFFERENCE BETWEEN TRANSITSWAP AND METAMASKSWAP (Read 22 times)
The only problem for Transitswap project is that one of most popular altcoin wallets - MetaMask wallet have ~30 millions trusted users, which use also use swap inside the wallet.
DIFFERENCE BETWEEN TRANSITSWAP AND METAMASKSWAP
1.0 INTRODUCTION
Transit Swap is a cross-chain swap platform that integrates DEXs, aggregate transactions, and a one-stop cross-chain. Without certification, users can complete decentralized transactions in real-time and instantly swap assets across networks supported by TokenPocket.
2.0 DIFFERENCE BETWEEN TRANSIT SWAP AND METAMASK SWAP
The unique feature of Transit Swap has specially distinguished it from existing cross-chain bridges. In distinguishing Transit Swap from Metamask Swap, these factors will be critically assessed; transaction fees, supported networks, governance, community, and other important utilities for optimal cross-chain bridge functionality.
Transaction fees:
Transit Swap allows users to leverage multiple decentralized exchanges to swap tokens, which gives better liquidity and returns. It intelligently filters exchange prices to provide the best rate for users making it the world’s preferred option for all swap transactions The platform has a native token known as TPT and xTPT that offers discount rates in transaction fees to its holders. The transaction fees discount is broken down below:
S/N. Level. Balance Discount Rate
1. LV.1. 10,000 & above. 10%
2. LV.2. 100,000 & above. 20%
3. LV.3. 1,000,000 & above. 40%
4. LV.4. 10,000,000 & above. 70%
Metamask Swap is built on the Ethereum network and currently does not have a native token for its platform. In addition to this, no discount is offered to the users, rather, transaction fees are charged at the fixed rate of O.875% for all volumes of transactions. Although, a report coming from Coinmarketcap in May 2022 indicates that developers behind the web 3 wallets ConsenSys Software Inc. have announced plans to develop a native token. But no native token has been developed for the platform at the time of writing this article. The disparity on both platforms in terms of transaction fees and discount rate indicates that Transit Swap offers better utility by allowing users to swap tokens at a compensatory and minimal transaction fee.
Supported networks:
Transit Swap currently integrates over 20 blockchain networks, providing varied and dynamic options for users to swap tokens in one platform with just one click. Metamask differs from Transit Swap, as the platform does not support certain blockchain networks, while other networks like the Binance Smart chain have to be manually integrated to carry out transactions. For instance, Solana which is one of the leading blockchain networks is not supported by Metamask. It will be impossible at the moment to perform token swap transactions from the native token of Solana network “SOL”, to any other token. Not only that, swap transactions for manually supported blockchains go for extremely high fees as reported by Grow Following in a September 2nd article. Against this seeming difficulty in token swap operations, Transit Swap has a list of all supported blockchain networks and tokens displayed on the easy-to-use, client-friendly interface that allows the user to swap tokens simply by selecting the network and the token. That is to say, in addition to providing access to more networks, Transit Swap is also user-friendly.
Support on/off Ramp:
In terms of token purchase as an integrated feature of the token swap operation, both platforms function similarly. Metamask allows users to directly deposit Ethereum from other platforms. An alternative to the arrangement is buying tokens using supported platforms like Wyre, Monday, Transak, and Coinbase PAY. On a larger scale, however, Transit Swap supports the transfer of so many tokens into the platform. Also, users are given more options to purchase tokens using many gateways such as; Google Pay, Apple Pay, Visa, MasterCard, Bank Transfer, Maestro Card, AlchemyPay, Ramp, Banxa, Coinify, Mercuryo, and other methods which Metamask supports.
4.0 CONCLUSION
It could be concluded that, unlike Metamask swap, Transit Swap provides more functionalities and utilities for its uses, through embedded user-friendly and innovative solutions. Download TokenPocket from the official website: tokenpocket.pro
1.0 INTRODUCTION
Transit Swap is a cross-chain swap platform that integrates DEXs, aggregate transactions, and a one-stop cross-chain. Without certification, users can complete decentralized transactions in real-time and instantly swap assets across networks supported by TokenPocket.
2.0 DIFFERENCE BETWEEN TRANSIT SWAP AND METAMASK SWAP
The unique feature of Transit Swap has specially distinguished it from existing cross-chain bridges. In distinguishing Transit Swap from Metamask Swap, these factors will be critically assessed; transaction fees, supported networks, governance, community, and other important utilities for optimal cross-chain bridge functionality.
Transaction fees:
Transit Swap allows users to leverage multiple decentralized exchanges to swap tokens, which gives better liquidity and returns. It intelligently filters exchange prices to provide the best rate for users making it the world’s preferred option for all swap transactions The platform has a native token known as TPT and xTPT that offers discount rates in transaction fees to its holders. The transaction fees discount is broken down below:
S/N. Level. Balance Discount Rate
1. LV.1. 10,000 & above. 10%
2. LV.2. 100,000 & above. 20%
3. LV.3. 1,000,000 & above. 40%
4. LV.4. 10,000,000 & above. 70%
Metamask Swap is built on the Ethereum network and currently does not have a native token for its platform. In addition to this, no discount is offered to the users, rather, transaction fees are charged at the fixed rate of O.875% for all volumes of transactions. Although, a report coming from Coinmarketcap in May 2022 indicates that developers behind the web 3 wallets ConsenSys Software Inc. have announced plans to develop a native token. But no native token has been developed for the platform at the time of writing this article. The disparity on both platforms in terms of transaction fees and discount rate indicates that Transit Swap offers better utility by allowing users to swap tokens at a compensatory and minimal transaction fee.
Supported networks:
Transit Swap currently integrates over 20 blockchain networks, providing varied and dynamic options for users to swap tokens in one platform with just one click. Metamask differs from Transit Swap, as the platform does not support certain blockchain networks, while other networks like the Binance Smart chain have to be manually integrated to carry out transactions. For instance, Solana which is one of the leading blockchain networks is not supported by Metamask. It will be impossible at the moment to perform token swap transactions from the native token of Solana network “SOL”, to any other token. Not only that, swap transactions for manually supported blockchains go for extremely high fees as reported by Grow Following in a September 2nd article. Against this seeming difficulty in token swap operations, Transit Swap has a list of all supported blockchain networks and tokens displayed on the easy-to-use, client-friendly interface that allows the user to swap tokens simply by selecting the network and the token. That is to say, in addition to providing access to more networks, Transit Swap is also user-friendly.
Support on/off Ramp:
In terms of token purchase as an integrated feature of the token swap operation, both platforms function similarly. Metamask allows users to directly deposit Ethereum from other platforms. An alternative to the arrangement is buying tokens using supported platforms like Wyre, Monday, Transak, and Coinbase PAY. On a larger scale, however, Transit Swap supports the transfer of so many tokens into the platform. Also, users are given more options to purchase tokens using many gateways such as; Google Pay, Apple Pay, Visa, MasterCard, Bank Transfer, Maestro Card, AlchemyPay, Ramp, Banxa, Coinify, Mercuryo, and other methods which Metamask supports.
4.0 CONCLUSION
It could be concluded that, unlike Metamask swap, Transit Swap provides more functionalities and utilities for its uses, through embedded user-friendly and innovative solutions. Download TokenPocket from the official website: tokenpocket.pro
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