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ERC-7281: Sovereign Bridged Tokens |
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xERC20 (ERC-7281) tokens are crosschain ERC-20 which can be transferred with no slippage across chains without compromising on security.
Today, when you want to make your token available on multiple chains, you have to either:
- Provide significant liquidity to a bridge on each chain (and require users to take slippage when transferring across chains); or
- Mint a new representation of your token through the bridge, locking yourself into that bridge and its security model forever.
xERC20s are natively crosschain without compromises. This makes your token:
- Transferrable across chains with no slippage.
- Deployed and fully controlled by you, the token issuer, including the ability to set rate limits on a per-bridge basis.
- [When bridged through Connext] Secured fully by Ethereum L1 and the canonical bridges of each chain.
- [Coming Soon] Fungible against the token representations minted by canonical bridges (rollup bridges, Polygon PoS bridge, etc.)
For more information about the open standard, please check out https://www.xerc20.com/.
{% hint style="info" %} Connext officially supports industry adoption of ERC-7281: Sovereign Bridged Tokens, which will allow token issuers to retain full sovereign control and flexibility over their tokens, regardless of which bridges they choose.
The following sections of this guide will walk through how to set up xERC20s. Secondarily, it provides instructions on how to configure Connext as one of your token's allowed bridges. {% endhint %}