MetaMask Challenges Centralized Exchanges with All-in-One DeFi Hub

MetaMask, the leading self-custodial crypto wallet developed by Consensys, has launched in-wallet perpetual futures trading and introduced a rewards program, marking a significant step in its transformation into an all-in-one onchain finance platform. The new features, available in permitted regions, leverage Hyperliquid as the decentralized perpetual exchange, enabling users to trade over 150 tokens with up to 40x leverage directly within the MetaMask mobile app. The rewards program, set to debut by late October, incentivizes onchain activity through a seasonal points system, with rewards including $30 million in LINEA token allocations, fee discounts, and exclusive benefits MetaMask expands into trading with perpetual futures and …^[1].

Perpetual futures, which account for approximately 75% of global crypto trading volume, have traditionally been confined to centralized exchanges. MetaMask's integration of Hyperliquid addresses this gap by offering non-custodial perpetual trading with zero swap fees, one-click funding across EVM-compatible chains, and a redesigned mobile interface optimized for speed and low latency. Total perpetual DEX volume reached $765 billion in August 2025, driven by demand for decentralized alternatives, though adoption has been hindered by fragmented infrastructure and poor user experiences. MetaMask's solution aims to democratize access to this market while maintaining full self-custody MetaMask expands into trading with perpetual futures and …^[1].

The rewards program, structured around three-month "seasons," rewards users for token swaps, perpetual trades, referrals, and future activities like spending via the MetaMask Card or holding mUSD stablecoin. Points unlock tiered benefits, including priority customer support, time-limited boosts, and a free year of the MetaMask Metal Card. The first season emphasizes swaps on the Linea network and MetaMask Mobile, with points carrying over to future seasons. The program is linked to MetaMask's anticipated token launch, which will deepen integration across its ecosystem MetaMask expands into trading with perpetual futures and …^[1].

MetaMask also announced an exclusive partnership with Polymarket to integrate onchain prediction markets later this year. This feature will allow users to trade outcomes in categories such as politics, sports, and crypto price movements without relinquishing custody of their assets. The integration aligns with MetaMask's broader strategy to expand its utility beyond a wallet, positioning it as a gateway to global decentralized finance. The wallet's mobile app has undergone significant updates to support these features, including faster execution and real-time market insights MetaMask expands into trading with perpetual futures and …^[1].

These developments reflect MetaMask's strategic pivot toward real-world utility and user incentives. By embedding derivatives trading, prediction markets, and rewards into its platform, MetaMask aims to retain users within its ecosystem while fostering broader adoption of self-custodial finance. The wallet's expansion into trading and speculation underscores a shift in the crypto industry toward hybrid models that combine custody control with advanced financial tools. Analysts note that MetaMask's focus on seamless, non-custodial experiences could accelerate mainstream adoption, particularly as institutional demand for privacy-preserving solutions grows MetaMask expands into trading with perpetual futures and …^[1].