TechFlow News: Layer 2 interoperability protocol Connext has launched a new token standard xERC20 (also known as ERC-7281), aiming to reduce liquidity costs for token issuers and enhance the security of bridged tokens. DeFi lending protocol Alchemix Finance is the first adopter.
According to sources, xERC20 (ERC-7281) offers support for token issuers by enabling bridge management, setting minting limits, and allowing designated bridges to mint identical tokens.
Connext stated that projects deploying xERC20 today will be fully compatible with the future finalized ERC-7281 specification, enabling 1:1 token transfers across chains.
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