As we continue to build out Metal Pay, Proton, and the proposed national bank charter First Blockchain Bank and Trust, we’re shifting our energy away from some of our older, legacy products to redouble our efforts on the future that we’re creating. That means we’re sunsetting Metal X, Metal Vault, and Lynx Wallet by May 31st, 2021.
Metal X’s Exit
Metal X was our first foray into a web-based centralized cryptocurrency exchange. Designed with beauty and simplicity in mind, Metal X was meant to give our users a powerful trading experience. Unfortunately, due to significant issues with a third-party service provider, we were unable to execute the vision that we had for the product. Not wanting to settle for less than releasing an exceptional product, we were faced with two options: build everything from scratch ourselves, or shift our energy to a more decentralized vision.
This dilemma coincided perfectly with the explosion of DeFi applications and the shift towards decentralized exchanges. We took this as the perfect signal to pull the plug on Metal X and pour our efforts into creating Proton Swap as an even better way to exchange cryptocurrency. The concept worked and we’re thrilled to see Proton Swap growing each day as a way to swap cryptocurrency instantly and for zero fees. In many ways, Proton Swap is becoming more capable than a traditional exchange like Metal X could ever be.
By May 31st, 2021, Metal X will no longer be accessible to our users. We encourage you to shift your holdings out of Metal X and into your preferred wallets as soon as you can; our Support Team is standing by and ready to help with every step of this process should you have any questions. To withdraw funds to Metal Pay, visit our guide here. To withdraw funds to the Proton Wallet and trade on Proton Swap, check our guide on how to create a Proton account; you’ll then be able to deposit funds to Proton Swap. If you want to withdraw funds to another wallet, please check our guide here. For all of your cryptocurrency exchanging needs, we suggest checking out our flagship product, Metal Pay, or our rising star, Proton Swap.
Locking up Metal Vault
Metal Vault was built during the early days of our company primarily as a way for our users to use and store MTL. Now that the MTL has grown as a token, there are numerous wallets and exchanges that can interact with MTL. As a result, we don’t see the point in maintaining a product that can be easily replicated across this industry.
By May 31st, 2021, we will be closing Metal Vault for good. Any users with funds in Metal Vault are encouraged to shift those funds to a wallet that supports their cryptocurrencies. If you’re moving MTL or any of the other funds that Metal Pay or Proton Wallet supports, those would be excellent destinations for your funds. If you’re moving something that doesn’t quite have support yet in our other products, you will need to find one of many third-party wallets to host those coins.
Closing down Lynx Wallet
We acquired Lynx Wallet when we merged with Lynx back in the first half of 2020. Our merger with Lynx brought the rockstar talent that we needed to build out the Proton Blockchain, which is rapidly becoming one of the fastest, easiest, and most functional blockchains in existence.
As our efforts continue to focus on Proton, we will be closing down Lynx Wallet. Within the next 60 days, Lynx Wallet will be removed from the app store and no longer available. Anyone with funds in their Lynx Wallet is encouraged to shift those funds over to Proton Wallet; it’s built by the same people you trust, and we think you’ll notice a lot of similarities. For any funds not supported by Proton Wallet, you will need to find a third-party provider and import your private key to store those coins.
We’re excited for everything that we’re building here at Metal. While the sunsetting of three products may be a sad moment for some, we’re excited to free up the extra resources to focus on creating amazing new products that perfectly blend TradFi and DeFi. We’re always looking out for ways to give our users more of what they want, and we think that building out Metal Pay, Proton, and First Blockchain Bank and Trust will do exactly that.
🤘Your friends at Metal 🤘