- Uniswap Labs introduces “Compact v1,” a cross-chain resource lock contract.
- Compact v1 addresses cross-chain fragmentation with secure, reusable resource locks.
- UniswapX enhances cross-chain swaps with Compact v1’s secure system integration.
Uniswap Labs has introduced the “Compact v1,” an ownerless ERC-6909 contract aimed at solving cross-chain fragmentation. The system allows secure, reusable resource locks across different blockchain networks. By providing a shared framework, developers can now create more customizable and composable systems.
What is Compact v1?
The Compact v1 is a resource lock ERC-6909 contract without an owner. ERC-6909 tokens are such locks because they are under the control of sponsors. To support various Compacts, sponsors deposit funds into the agreement to form these locks.
These Compacts act as verifiable commitments, providing specific terms under which others can assert the assets. Some of the major components included in the structure are Allocators, Arbiters, Tribunal, and Emissaries.
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Allocators ensure that no individual can spend the same resource twice by authorizing resource usage, whereas the Arbiters ensure that there are conditions of commitment. Tribunal assists in cross-chain swaps, and Emissaries support fallback verification of smart contract wallets.
Powering Cross-Chain Swaps on UniswapX
According to Uniswap, Compact v1 seeks to run cross-chain swaps on UniswapX, enhancing the efficiency of transactions. It has already been adopted by other partners like LI.FI and Rhinestone. Uniswap Labs highlighted the difficulty in asynchronous execution environments across blockchains, which makes atomic transactions difficult. “This breaks the atomic guarantee that makes single-chain transactions predictable,” said Uniswap.
The Compact v1 system addresses this problem by supporting cross-chain swaps, which are secure. Uniswap, too, has noticed that the system is the one that has been subjected to a number of independent security reviews by OpenZeppelin and Spearbit. Full audit reports will be published shortly, and the project will also be part of the Uniswap bug bounty program.
The Compact v1 system is another sign of the further development of Uniswap, as monthly volume reached up to 143 billion in August. This is a massive growth relative to the last month, when it was recorded at $99.3 billion, according to data from defillama. The new system will also advance the cross-chain activities and the overall user experience at Uniswap.
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