ERC-7621, The New Token Standard

Alvara’s protocol is heavily structured around bringing utility to the new ERC-7621 token standard, created by Alvara’s developers. The ERC-7621 is a new token standard (https://eips.ethereum.org/EIPS/eip-7621) that facilitates the implementation of investment baskets on blockchain, also known as a BSKT (Basket Token Standard). A BSKT can hold any number of underlying assets within it, providing they are tokenized and available on a supported EVM blockchain or via an integration with Wormhole or similar (see section 2.2.4) ERC-7621 will become the go-to standard for on-chain basket management. Baskets that contain anything from REITs, FX, synthetics, derivatives, cryptocurrencies and any other tokenized asset can all be powered by the ERC-7621.