Ethereum Foundation Merges Alvara Protocol's ERC-7621 Token Standard Into Draft Status

According to Foresight News, the Ethereum Foundation has merged the ERC-7621 token standard of DeFi platform Alvara Protocol into its standard draft status. The innovation of ERC-7621 includes a Basket Token Standard (BTS), which allows the creation of tokens containing various underlying ERC-20 tokens. The Fungible BTS LP token is an ERC-7621 LP token, representing shares in the basket, and can be used in various DeFi applications. The protocol allows for the minting and burning of LP tokens with each donation or withdrawal, keeping in sync with the fund dynamics. Furthermore, ERC-7621 facilitates automatic distribution of management fees and promotes portfolio adjustments, simplifying fund management. This development marks a significant step in the evolution of DeFi platforms and their integration with established blockchain standards.