A group of top Ethereum developers and leaders released Wednesday a new framework that would simplify and standardize cross-chain token transfers.
The initiative, called the Open Intents Framework (OIF), was kickstarted by contributors from the Ethereum Foundation and is supported by 25 projects including teams building layer-2s like Arbitrum, Optimism, ZKsync, and Scroll, according to a press release shared with CoinDesk.
The goal of the initiative is to bring “intents” to all corners of the Ethereum ecosystem, which is a technological feature that lets a blockchain user accomplish a specific goal by asking an intermediary to fulfill that goal (like a trade or transaction they want to make.)
There are some standards out there that are already trying to make cross-chain transactions easier by using intents. ERC-7683, which was introduced by the team behind the decentralized exchange Uniswap and the Across protocol, is one of those standards circulating the Ethereum space lately, and is supposed to address fragmentation and allow more chains in the Ethereum ecosystem to interoperate.
But the OIF team claims that they will build on that standard through their framework allowing intents to function at scale. “By offering shared infrastructure and execution coordination, OIF makes intent-based transactions permissionless, efficient, and accessible for all projects,” the press release said.
“As Ethereum’s ecosystem becomes increasingly multichain, intents help streamline fragmented user experiences by enabling seamless, near-instant cross-chain transactions through specialized solvers. However, integrating intents remains complex and resource-intensive, making an open intents framework essential to standardize infrastructure, reduce barriers to adoption, and foster broader collaboration across the ecosystem,” the team shared with CoinDesk.
Read more: ‘Intents’ Are Blockchain’s Big New Buzzword. What are They, And What Are the Risks?