Layer2 interoperability protocol Connext launches cross-chain token standard xERC20 to reduce liquidity costs and enhance the security of bridged tokens

ChainCatcher news, Layer2 interoperability protocol Connext has launched the token standard xERC20 (also known as ERC-7281) to reduce liquidity costs for token issuers and enhance the security of bridged tokens.

It is reported that xERC20 (ERC7281) provides support for token issuers: managing bridges, setting minting limits, and allowing selected bridges to mint the same token.

Connext stated that projects deploying xERC20s today through Connext will be fully compatible with the future finalized ERC-7281 specification, enabling 1:1 token transfers across chains. (Source link)