#Avalanche Foundation funds cross-chain protocols#
Hot Topic Overview
Overview
The Avalanche Foundation recently announced a grant to VIA Labs for the development of the cross-chain protocol Proto-USD. Proto-USD aims to simplify cross-chain liquidity, enabling USDC to be easily transferred between Avalanche L1 and other networks. The protocol combines Avalanche's interchain messaging and CCTP to power native USDC transfers between L1 and many other chains. The development of Proto-USD is intended to enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem, bringing more liquidity and users to the Avalanche ecosystem.
Ace Hot Topic Analysis
Analysis
The Avalanche Foundation recently awarded a grant to VIA Labs for the development of the cross-chain protocol Proto-USD. Proto-USD aims to simplify cross-chain liquidity, enabling USDC to be easily transferred between Avalanche L1 and other networks. This will be achieved by leveraging Avalanche's interchain messaging and CCTP, powering native USDC transfers between L1 and numerous other chains. The development of Proto-USD is intended to enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem. By facilitating cross-chain USDC liquidity, Proto-USD is expected to bring more liquidity to the Avalanche ecosystem, attract more users and developers, and ultimately drive the growth of Avalanche.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Avalanche Foundation funds VIA Labs to develop cross-chain protocol Proto-USD, aiming to simplify cross-chain liquidity.
Proto-USD enables USDC to be easily transferred between Avalanche L1 and other networks.
Proto-USD leverages Avalanche's cross-chain messaging and CCTP technology.
The development of Proto-USD aims to enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem.