Uniswap Labs and Across Protocol have introduced a new Ethereum token standard, ERC-7683, to combat liquidity fragmentation challenges. This standard aims to streamline cross-chain actions in intents-based systems, automating blockchain interactions based on user preferences. For instance, it can facilitate cross-chain token swaps without users needing to know about bridges or exchanges. The ERC-7683 standard simplifies the process by having the swapper sign a message, which is then executed on the origin and destination chains. Uniswap Labs plans to implement this standard on UniswapX's cross-chain version, but it is open for any decentralized application to adopt. The proposal, submitted to the CAKE Working Group, focuses on enhancing liquidity and maintaining active filler networks across chains. Additionally, the standard allows for customization in various aspects like price resolution and settlement procedures. This initiative addresses the challenges posed by the fragmentation of funds in Ethereum's layer 2 blockchains, offering solutions for shared liquidity and improved efficiency in transactions. Read more AI-generated news on: https://app.chaingpt.org/news