AltLayer to support Connext’s sovereign bridged tokens ‘xERC20’

We are thrilled to announce that we are now supporting Connext's sovereign bridged tokens - xERC20 - within our rollup ecosystem to promote greater on-chain security & enhance sovereignty of token issuers.

Connext’s work on xERC20 as an open token standard is crucial for interoperability & bridging. It gives control back to the base asset issuer whereby bridges no longer need to issue their own bridged token by locking user’s base tokens, reducing the risk of asset losses in the event of a bridge hack and thereby ensuring that all bridged assets remain a single canonical version of the base asset.

Now, AltLayer has now integrated xERC20 into our rollup infrastructure.

Read all about what this means on our blog: https://blog.altlayer.io/altlayer-to-support-connexts-sovereign-bridged-tokens-xerc20-178e5c19d7b4