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MetaMask Wallet announced the launch of a new feature called Transaction Shield, a premium security upgrade. This feature provides protection against transaction loss and offers users priority support, making cryptocurrency use safer and more convenient.
What is Transaction Shield?
Transaction Shield is a new feature that expands MetaMask's security capabilities by providing users with up to $10,000 in insurance coverage per month. This coverage applies to transactions deemed safe by MetaMask's security system through automated smart contract verification and modeling.
Subscription Terms
A Transaction Shield subscription costs $9.99 per month or $99 per year. Users can take advantage of a 14-day free trial and receive a $20 discount on an annual subscription. The feature is currently available in the MetaMask extension, with mobile support coming soon.
Supported Networks and Actions
Transaction Shield applies to approved actions on networks such as Ethereum, Linea, Arbitrum, Avalanche, Optimism, Base, Polygon, BSC, and Sei. Supported interactions include:
- DeFi swaps
- Lending
- Minting and selling NFTs on verified marketplaces
- Verified airdrop claims
This feature allows users to conduct transactions with greater confidence, knowing they are protected from potential losses.
Exceptions and Application Process
It is important to note that the service does not cover cases of hacked wallets, market losses, or protocol exploits. Users wishing to receive compensation must submit a claim within 21 days of the incident. Most compensation is paid within 15 business days in mUSD at the current market rate.
In Conclusion
The launch of MetaMask's Transaction Shield is a significant step toward enhancing user security in the cryptocurrency world. This feature allows users to feel more secure when conducting transactions and receive necessary support should any issues arise. This update underscores MetaMask's commitment to improving the user experience and increasing trust in cryptocurrency transactions.
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