Uniswap Labs, the firm behind the decentralized exchange Uniswap, recently received a Wells Notice from the US Securities and Exchange Commission (SEC), which might lead to an Enforcement Action. Despite these regulatory hurdles, Uniswap Labs has collaborated with Across, a cross-chain protocol, to introduce a new standard for cross-chain transactions.

Uniswap Labs and Across have proposed a new standard for cross-chain transactions, aiming to facilitate end-to-end interoperability between different blockchain platforms through a universal filler network. This standard is designed to streamline the transfer or interaction of assets and protocols across multiple blockchain networks.

To create an Ethereum Request for Comment (ERC) for this standard, Uniswap Labs and Across plan to present it to the CAKE Working Group for further review. UniswapX, a new project by Uniswap Labs focusing on cross-chain functionality, will be the first to adopt this ERC. By integrating cross-chain functionality, UniswapX aims to enhance the user experience and broaden its service scope.

Uniswap Labs has identified that cross-chain protocols often adopt various methods to connect activities between blockchain networks. While messaging-based designs have been popular, they "suffer from slow transfer finalization and high costs." Uniswap Labs argues that intent-based approaches offer a more efficient solution.

The proposed standard establishes rules at Ethereum's application layer, enabling independent intent-based systems to interoperate easily. The 'CrossChainOrder' and 'CrossChainSettler' components are central to this proposed standard, defining key order parameters and specifying the functions settlement contracts must implement to resolve and initiate implementation-specific orders on-chain.

By adhering to this ERC standard, users can reportedly sign cross-chain orders that conform to a unified specification, regardless of the system they interact with. This approach aims to eliminate siloed networks and reduce reliance on a few fillers, thereby improving decentralization and reducing the risks associated with centralized fillers.

The SEC's Wells Notice has significantly impacted the UNI token, causing a notable downtrend in its price. Over the past 24 hours, the token has experienced a price drop of more than 21%, and this downward trend has extended to nearly 35% over the past month, resulting in the current trading price of $8.820.