Uniswap Labs has proposed a new Ethereum standard, ERC-7683, which simplifies and improves cross-chain transactions. ERC-7683 introduces a common smart contract interface, ISettlementContract, and a generic CrossChainOrder framework. It allows users to sign and distribute orders to the market for execution. 📈🔗

The ERC-7683 standard allows cross-chain systems to exchange infrastructure, improving access to liquidity and active placeholders. This reduces costs, speeds up processing and improves transaction reliability. Protocols and applications can use specific ERC-7683 interfaces and data structures, simplifying integration and reducing development costs.

ERC-7683 also promotes liquidity and competitiveness across various blockchain networks, leading to better pricing and fulfillment for consumers. Uniswap Labs plans to adopt this standard when migrating to UniswapX.

The success of ERC-7683 will ultimately depend on the collaborative efforts of the blockchain community.