Category: connext

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9 protocols criticize LayerZero’s wstETH token, claiming it’s ‘proprietary’

October 28, 2023

Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer and Router issued a joint statement criticizing the new token. A new bridged token from cross-chain protocol LayerZero is drawing criticism from nine protocols throughout the Ethereum ecosystem. A joint statement from Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer and Router on Oct. 27 called the…
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Connext, Alchemix launch cross-chain token standard to reduce bridge exploit losses

July 25, 2023

The two protocols will implement a standard for issuers to control the “canonical” minting of tokens, helping to reduce losses from unofficial bridges. 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…
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