#Avalanche Foundation funds cross-chain protocols#
Hot Topic Overview
Overview
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 the seamless transfer of USDC 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.
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 the seamless transfer of USDC between Avalanche L1 and other networks. The protocol leverages Avalanche's inter-blockchain messaging capabilities and CCTP to power native USDC transfers between L1 and other chains. The development of Proto-USD is intended to enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem. By streamlining cross-chain liquidity, Proto-USD is expected to foster interoperability between the Avalanche ecosystem and other blockchains, attracting more users and developers to the Avalanche 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 the accessibility, scalability, and overall connectivity of the Avalanche ecosystem.
Proto-USD leverages Avalanche's cross-chain messaging and CCTP to streamline cross-chain liquidity, enabling USDC to be easily transferred between Avalanche L1 and other networks.
The development of Proto-USD will bring a more convenient cross-chain experience to the Avalanche ecosystem, fostering interoperability between different chains.
Avalanche Foundation's support for the development of cross-chain protocols through the InfraBUIDL() program demonstrates its commitment to facilitating the interconnection of the Avalanche ecosystem with other blockchains.