We at Liminal are excited to share that we have collaborated with Metamask Institutional intending to accelerate the adoption of cryptocurrencies. Metasmask Institutional, as the saying goes, is an institution-compliant version of MetaMask, the world’s most trusted DeFi wallet. They offer unparalleled access to DeFi and Web3 while maintaining the institution’s required security, operational efficiency, and compliance.
Liz Mathew, Global Head of Growth and Partnerships at MetaMask Institutional, said, “Onboarding Liminal as a custodian under Metamask Institutional brings additional choice to Metamask Institutional customers and solidifies MMI’s position as the premier institutional wallet for Web3.”
With this integration, our customers can instantly link their Liminal wallets to Metamask Institution and use it exactly as they would a standard Ethereum wallet, like MetaMask, but with the additional advantages of Liminal Wallets. This brings us to the question –
What are the advantages of Liminal Wallets?
Liminal wallets provide a slew of advantages that various institutions are making use of. Some of these benefits include the following –
- MultiSig setup: Liminal Wallets use multisig configuration, which requires a minimum of two users and has no maximum. Multisig’s additional security can ensure that neither your money nor its access by others will be taken while you are away. It prevents access to your cryptocurrency from being completely blocked by a single error or hack.
- Automation with easy integration: Liminal wallets like Smart Refill Wallet and Smart Cold Wallet add a security layer to the depositing and withdrawal process by automating the transactions. As a result, since there is essentially no human intervention, the likelihood of human errors decreases to almost zero. Furthermore, the wallets feature a simple plug-and-play architecture that does not interfere with existing infrastructure.
- Policies: The config phase of Liminal’s Wallet setup necessitates that customers define a number of parameters. The user must provide the list of approved wallet addresses for sending money as part of this process. Only after gaining approval from the necessary number of keyholders in accordance with the wallet settings are these addresses added to the whitelist. In addition to securing transactions to reliable addresses, Liminal enables users to monitor transaction volumes. Users can determine maximum transaction volumes over a certain time period by setting spending limits.
- Secured and Insured Keys: Liminal Wallets heavily rely on using HSM-based devices for reliability and security reasons. Furthermore, if something occurs to the primary key and backup key, such as physical damage, theft, etc., and the clients incur a loss, there is a $50 million insurance coverage.
Now that we have a better grasp of Liminal Wallets and their benefits,
Let’s look at Metamask Institutional –
In December 2020, ConsenSys Codefi and MetaMask announced an institutional offering, Metamask Institutional or MMI. This offering entailed expanding MetaMask services encompassing enterprise-grade security and operational features — all incorporated within the world’s most trusted Ethereum wallet.
These institutional capabilities allowed cryptocurrency funds, family offices, and financial institutions to get access to and exposure to Web3’s varied decentralised finance options. Further, MMI opened various benefits to institutional investors, which include access to various DeFi protocols and applications, Consolidates NFT Dashboard, running advanced DeFi compliance, etc.
We can now conclude that the powerful benefits of Liminal Wallets and MMI will help users to grow and explore more the avenues of Web3. However, it’s time for us to answer the next question –
How can Liminal users access the DeFi apps of metamask using this Metamask institutional integration?
Liminal customers may simply log in to their dashboard, select MetaMask Institutional, install the browser extension, and connect it to their Liminal Ethereum and EVM wallets. Once completed, they can interact with DeFi dApps as they normally would with the MetaMask extension. But, permission from all users of MultiSig Wallets configured in Liminal is necessary for all transactions.
Learn more about Liminal here.
Remember to keep yourself updated on our blog and social media channels.
Original Content Published On Medium