Weekly report-July 31,2023

1. Completed development of contract authorization and transfer business logic, fulfilling cross-ecosystem token usage demand and further enhancing interoperability of tokens. Users can now utilize obtained cross-chain tokens for value transfer across different ecosystem scenarios.

2. Completed contract wallet address generation and asset transfer logic development. This lays the foundation for supporting contract account functions in the future, with the capability for contracts to hold and transfer assets on their own.

3. We noticed some centralization issues with the current Ethereum cross-chain bridge contracts. To further increase decentralization, this week we completed contract modifications and introduced a DAO governance model, transferring management decision-making power to community members. This realizes more transparent and fair on-chain asset governance, reducing centralization risks.