Passing multiple value and setter pairs to Context.Provider in React

Context.Provider accepts any value, so you can try passing an object:

<MyContext.Provider
  value={{ value: [value, setValue], value2: [value2, setValue2] }}
>
  {props.children}
</MyContext.Provider>;

const App = () => {
  return (
    <MyProvider>
      <ComponentA />
    </MyProvider>
  );
};

const MyContext = React.createContext();

const MyProvider = props => {
  const [value, setValue] = React.useState("foo");
  const [value2, setValue2] = React.useState("goo");

  return (
    <MyContext.Provider
      value={{ value: [value, setValue], value2: [value2, setValue2] }}
    >
      {props.children}
    </MyContext.Provider>
  );
};

const ComponentA = () => {
  const { value, value2 } = React.useContext(MyContext);
  const [stateValue, setStateValue] = value;
  const [stateValue2, setStateValue2] = value2;

  return (
    <div>
      <h1>The value is: {stateValue}</h1>
      <h1>The value2 is: {stateValue2}</h1>
    </div>
  );
};

ReactDOM.render(<App />, document.getElementById("app"));

Notice that there is a caveat when trying to optimize useless renders (be sure you not just optimizing prematurely): there is no render bailout for Context Consumers.

As for v17, may be change in near future.