#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. The development of this protocol will further enhance the cross-chain capabilities of the Avalanche ecosystem, fostering interoperability with other blockchain networks and providing users with a more convenient cross-chain experience.
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. 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, Proto-USD is expected to foster the growth of the Avalanche ecosystem, attract more users and developers, and further strengthen Avalanche's competitiveness in the cross-chain space.
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 seamlessly transfer between Avalanche L1 and other networks.
The development of Proto-USD will foster interoperability between the Avalanche ecosystem and other blockchains, driving cross-chain liquidity and application development.
Avalanche Foundation's support for cross-chain protocol development through the InfraBUIDL() program demonstrates its commitment to promoting interconnectivity between the Avalanche ecosystem and other blockchains.