#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. This protocol aims to simplify cross-chain liquidity, enabling USDC to be easily transferred between Avalanche L1 and other networks. Proto-USD combines Avalanche's interchain messaging and CCTP to power native USDC transfers between L1 and numerous other chains. The project aims 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 USDC to be easily transferred 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 the growth of the Avalanche ecosystem and provide users with a more seamless cross-chain experience.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Avalanche Foundation funds 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 foster interoperability between the Avalanche ecosystem and other blockchains.
The Avalanche Foundation supports the development of cross-chain protocols through its InfraBUIDL() program to drive the growth of the Avalanche ecosystem.