Bridging the Gap: Better Token Standards for Cross-chain Assets

Taking ERC20 tokens cross-chain is broken. Today, bridges are often slow and expensive, have security vulnerabilities (as evidenced most recently by the Multichain hack), and fragment liquidity when each bridge creates its own version of the bridged token liquidity (and communities) when they create their own versions of tokens.

Bridging in its current state worked as a necessary stopgap solution, but for web3 to move forward, we need a better way. L2s are booming. Independent chains are still being built. …

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