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Can Lukso UP receive ERC20 tokens with a simple transfer,

meaning does it need any bridges to accomplish this?

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They are using erc777 which is a compatible and improved version of erc20.

I think that an up could receive an erc-20 token thats running on the Lukso blockchain but I doubt that there will be any as for Lukso these assets will be mainly LSP7 based I believe. If you mean erc-20 tokens that run on the ethereum blockchain or another blockchain then yes as with any cross blockchain stuff you need a bridge.

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