#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.
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 many other chains. The development of Proto-USD is intended to enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem. This grant comes from the Avalanche Foundation's InfraBUIDL() program, which supports the development of infrastructure projects within the Avalanche ecosystem. The launch of Proto-USD will bring significant benefits to the Avalanche ecosystem, including more convenient cross-chain transactions, lower transaction costs, and faster transaction speeds, 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 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.
The development of Proto-USD will contribute to interoperability between the Avalanche ecosystem and other blockchain networks, fostering cross-chain liquidity and asset transfers.
Avalanche Foundation's funding of VIA Labs through the InfraBUIDL() program demonstrates its commitment to cross-chain protocols and interoperability.