Uniswap collaborates with Across to launch the cross-chain standard ERC-7683.
Uniswap Labs and Across have announced a collaboration to introduce a new cross-chain transfer standard ERC-7683 based on intention-driven transactions, aiming to standardize the transaction structure across different chains. By integrating this, they hope to increase cross-chain efficiency by improving liquidity and enhancing user experience. This new standard is expected to be integrated into UniswapX in the future. Source
Table of Contents
Introduction to ERC-7683
What Problems Does It Solve?
According to the document, the current cross-chain products based on intent trading systems face a key challenge of obtaining sufficient liquidity and an active network of filler robots, the latter playing a crucial role in executing user intents.
If the liquidity and number of filler robots mentioned above cannot be effectively increased, as different blockchains continue to compete for the market, the liquidity of the cross-chain intent system will become more fragmented, ultimately leading to users unable to have a normal user experience.
For example, there are no robots available to assist in executing transactions after submission, or the liquidity on the target chain is insufficient, making it impossible to cross chains successfully. Even if it does run successfully, it will be at a higher cost and face a higher probability of failure.
ERC-7683 aims to create a universal filler network, allowing all cross-chain intents to have a structure to follow, addressing the issue of intent infrastructure - relay fragmentation.
Introduction to ERC-7683 Architecture
The ERC-7683 standard allows the implementation of standard APIs for cross-chain transaction execution systems, divided into two parts: the universal CrossChainOrder structure and the standard ISettlementContract contract interface. All compatible cross-chain bridges can comply with the ERC-7683 standard, expanding the service scope of filler robots and enhancing user experience simultaneously.
The goal of the ERC-7683 standard is to provide a broad cross-chain intent design framework, constructing a standard cross-chain intent process:
- Users sign a message below the chain, defining the parameters of their order, and distribute the standard cross-chain order Cross-Chain Order to fillers.
- Fillers initialize the transaction on the original chain.
- Fillers execute on the target chain to provide liquidity to users.
- The contract automatically goes through the cross-chain settlement process to settle the order.
Like most standards and interfaces, cross-chain bridge developers can implement other functions and details to design custom behaviors flexibly, such as:
- Price resolution: such as using Dutch auctions or pricing based on oracles
- Filler restrictions: adding conditions for filling or fund distribution time
- Settlement procedures: adding fund delay distribution to ensure fillers do not act maliciously
Uniswap Continues to Drive Intent Infrastructure
Uniswap Labs has stated that UniswapX will also adopt this standard in the future, strengthening the flexibility of the filler network. The proposal has been submitted to the CAKE Working Group for review.
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Reason for recommendation: Reading this article introduces how UniswapX provides trading aggregation through intent trading, showing that Uniswap has long been involved in the intent field.