ConsenSys-backed decentralized digital wallet MetaMask has reached 1 million monthly active users for the first time.
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According to an official press release, the growth of user base is correlated with the decentralized finance (DeFi) boom. Over the past year, MetaMask witnessed significant growth in the adoption of DAOs, Web3 games and the rapid consumer uptake of DeFi products.
The growth of user base demonstrates that new users are coming to MetaMask to participate in the DeFi revolution. To celebrate the milestone, MetaMask has created a new feature that allows users to swap digital tokens directly in the wallet.
From now on, MetaMask users can purchase ETH, store it safely, browse DeFi protocols and exchanges, and connect their wallets directly to Uniswap, Yearn, Curve, Maker or Aave.
In September 2020, iHodl reported that Uniswap became the first DeFi project with more than $2 billion in value locked.
Back then, Uniswap's dominance over other DeFi protocols surpassed by 18.5%, while the combined TVL of the whole sector amounted to $11 billion.
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