#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, thereby enhancing the accessibility, scalability, and overall connectivity of the Avalanche ecosystem. Proto-USD leverages Avalanche's interchain messaging and CCTP technology to power native USDC transfers between L1 and numerous other chains.
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 many other chains. The development of Proto-USD will enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem, bringing more liquidity and users to the Avalanche ecosystem. This will help Avalanche become a more open and interoperable blockchain ecosystem, attracting more developers and users.
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 power native USDC transfers between L1 and numerous other chains.
Avalanche Foundation provides a grant to VIA Labs through its InfraBUIDL() program to support the development of its cross-chain protocol Proto-USD.