Uniswap Introduces ERC-7683 Token Standard, UNI Enters Breakout Mode
Uniswap Labs, in collaboration with the Across Protocol, proposes a new token standard aiming to streamline cross-chain trading solutions. This standard is called ERC-7683.
HIGHLIGHTS • Uniswap Labs collaborates with the Across Protocol to facilitate cross-chain intent. • The two entities propose ERC-7683. • UNI token's price chart shows an extended period of consolidation, with the token slightly up at press time.
Uniswap Labs, the company behind the decentralized crypto exchange Uniswap, has recently unveiled ERC-7683 for cross-chain intents, marking a monumental stride. In collaboration with the Across Protocol, a new proposal was brought to attention today, aiming to “establish a unified framework for intents-based systems to specify cross-chain actions.”
The two entities have collaborated to publish an Ethereum Request for Comment (ERC) on the Ethereum Magicians forum and propose the standard to the CAKE Working Group for further discussions and reviews.
ERC outlines the steps and standards tokens must meet to work with the Ethereum network and trade smoothly with other tokens. Here’s a closer look into the proposal.