#Avalanche Foundation funds cross-chain protocols#
Hot Topic Overview
Overview
The Avalanche Foundation recently announced funding for VIA Labs to develop 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 leverages Avalanche's cross-chain messaging and CCTP technology to power native USDC transfers between L1 and other chains, aiming 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 interchain messaging and CCTP technology 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, which will help attract more users and developers to the Avalanche ecosystem and further its growth 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 simplify cross-chain liquidity.
Proto-USD enables seamless USDC transfers between Avalanche L1 and other networks, enhancing the accessibility, scalability, and overall connectivity of the Avalanche ecosystem.
Proto-USD leverages Avalanche's cross-chain messaging and CCTP technology to power native USDC transfers between L1 and other chains.
The Avalanche Foundation's funding of VIA Labs through the InfraBUIDL program demonstrates its commitment to cross-chain protocols and ecosystem interoperability.