I tried Metro.exchange (THORSwap's new aggregator) for a BTC swap. Honest review.
Metro.exchange is THORSwap's new Bitcoin-first cross-chain aggregator that just hit open beta. Since it routes across multiple protocols (THORChain, Maya, Chainflip, NEAR Intents) instead of being a single protocol itself, I wanted to see how the routing logic actually performs vs going direct.
The quote:
- Input: 106.956992 USDT (~$106.94)
- Output quoted: 0.00132391 BTC (~$106.25)
- Price impact: 0.65%
- Network and protocol fees: $0.48
- Metro exchange fee: $0.32
- Total stated fees: $0.80
- Min received (slippage protection): 0.00128419 BTC
- Quote refresh timer: 45 seconds
Routing:
This was the most interesting part. Metro showed multiple routes side by side and picked the optimal one automatically.
- Route 1 (selected): Garden, 10 min 12 sec, $0.80 fees, 0.00132391 BTC received
- Route 2: Harbor, 10 min 30 sec, $1.31 fees, 0.00132036 BTC received
Note that Garden is an atomic swap protocol using HTLCs, and Harbor is a relatively new L1 with native asset vaults. Neither is THORChain. For this specific pair and size, Metro's logic picked Garden over THORChain, Maya, Chainflip, or NEAR Intents. That's worth highlighting because it means Metro is a genuine multi-protocol aggregator, not just a THORSwap reskin.
The route card was tagged "Preferred + Fastest + Best Price" all together, which is convenient when those three align. Curious to see what happens on pairs where they don't.
UX:
- Clean Bitcoin-themed interface
- Routing path is visible with protocol logos. Easy to see who's executing your swap.
- Quote refresh timer prevents stale pricing
- "Hide unoptimal routes" toggle for users who want a simpler view
- Wallet connection deferred until after you've reviewed the quote, which is a nice flow
- Both fee components (network/protocol and Metro's own exchange fee) are itemized separately, which is transparent
Trust model:
Metro is an aggregation layer, not a new protocol. Funds settle on whichever underlying protocol Metro routes through. For this swap that was Garden's atomic swap network. Trust assumptions are: (1) Metro's routing logic is honest and competitive, (2) the underlying protocol's security model. Standard aggregator setup.
What I like:
- Genuine multi-protocol routing across THORChain, Maya, Chainflip, NEAR Intents, Garden, and Harbor in one interface
- Transparent fee breakdown. You can see Metro's own cut separately from network/protocol fees.
- Routing path visibility lets you verify quotes against going direct
- Quote refresh timer is a nice CEX-style touch
- Self-custodial, no KYC, no wallet connection required to get a quote
What I don't like:
- Metro adds an exchange fee on top of the underlying protocol. ~0.30% in this case. Going direct to Garden would save that.
- Open beta, so expect rough edges
- Couldn't easily tell from the quote screen what slippage tolerance was being applied. Min received implied roughly 3%, which feels high for stable to BTC.
- For users already familiar with one specific protocol, the aggregation layer adds a small fee for convenience that experienced users might not need
Personal take:
For unfamiliar pairs where I don't know the best route, Metro's aggregation is genuinely useful. For pairs I already swap regularly, going direct probably saves me 30 bps. Routing visibility is the key feature that earns the convenience fee, in my view.
Rating: 7/10.
Anyone else tested it yet? Curious what routes you're seeing for different pairs, especially BTC to stable, and whether Garden/Harbor routes are showing up consistently or if THORChain still wins on most pairs.