#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 leverages Avalanche's interchain messaging and CCTP technology to simplify cross-chain liquidity, enabling USDC to be easily transferred between Avalanche L1 and other networks. The protocol aims to enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem, powering 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 will enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem. By supporting the development of Proto-USD, the Avalanche Foundation demonstrates its commitment to fostering cross-chain interoperability and creating stronger connectivity for the Avalanche ecosystem. This will help the Avalanche ecosystem attract more users and developers, driving its further growth in DeFi and Web3.
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 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 expected to foster interoperability between the Avalanche ecosystem and other blockchains, providing users with a more convenient cross-chain experience.
Avalanche Foundation's support for cross-chain protocol development through the InfraBUIDL() program demonstrates its commitment to driving cross-chain interoperability.