#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, thereby enhancing the accessibility, scalability, and overall connectivity of the Avalanche ecosystem. VIA Labs' Proto-USD leverages Avalanche's interchain messaging and CCTP to power native USDC transfers between L1 and numerous other chains.
Ace Hot Topic Analysis
Analysis
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 numerous other chains. The development of Proto-USD is intended to enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem. By supporting cross-chain liquidity for USDC, Proto-USD is expected to foster interoperability between the Avalanche ecosystem and other blockchains, providing users with a more seamless cross-chain experience. This will help Avalanche attract more users and developers, further driving the growth and prosperity of its ecosystem.
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 enhance Avalanche's ecosystem accessibility, scalability, and overall connectivity.
Proto-USD leverages Avalanche's cross-chain messaging and CCTP to streamline cross-chain liquidity, enabling USDC to transfer seamlessly between Avalanche L1 and other networks.
Proto-USD is capable of powering native USDC transfers between L1 and numerous other chains.
Avalanche Foundation provides a grant to VIA Labs through the InfraBUIDL() program to support their development of Proto-USD.