Connext, Alchemix launch cross-chain token standard to reduce bridge exploit losses By Cointelegraph
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The Connext cross-chain bridging protocol has announced a new token standard to reduce losses from bridge hacks. According to a July 24 announcement, the new “xERC-20” standard allows token issuers to maintain a list of official bridges and control how many tokens can be minted by each.
In addition to Connext, decentralized finance (DeFi) platform Alchemix Finance will implement xERC-20 tokens, the announcement stated.
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The Connext cross-chain bridging protocol has announced a new token standard to reduce losses from bridge hacks. According to a July 24 announcement, the new “xERC-20” standard allows token issuers to maintain a list of official bridges and control how many tokens can be minted by each.
In addition to Connext, decentralized finance (DeFi) platform Alchemix Finance will implement xERC-20 tokens, the announcement stated.
Continue Reading on Coin Telegraph
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