Alvara Protocol, a tokenized fund management protocol, announced that the Ethereum Foundation officially recognized the ERC-7621 proposal and merged it into a draft standard. The ERC-7621 standard allows the creation of tokenized funds backed by multiple assets on the blockchain. Anyone can deploy BTS (basket tokens) containing multiple ERC-20 tokens, which brings unprecedented flexibility to fund management. The key features of BTS include:
1. Transferable BTS tokens and management rights;
2. Fungible liquidity provider tokens (BTS LP), representing the holder's share in the fund;
3. Flexible portfolio adjustment function, allowing managers to modify token types and weights, supporting automatic or manual rebalancing.
ERC-7621 improves many problems in traditional fund management by improving transparency, decentralization, simplifying management processes, and increasing access to investment opportunities.