#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. Proto-USD leverages Avalanche's interchain messaging and CCTP technology to power native USDC transfers between L1 and other chains. The development of this protocol will further enhance the cross-chain capabilities of the Avalanche ecosystem, fostering interoperability with other blockchain networks.
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 the seamless transfer of USDC between Avalanche L1 and other networks. Proto-USD leverages Avalanche's interchain messaging and CCTP to power native USDC transfers between L1 and numerous other chains. The protocol's development 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 and development of the Avalanche ecosystem, attracting more users and developers to participate.
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 easy transfer of USDC between Avalanche L1 and other networks.
Proto-USD leverages Avalanche's cross-chain messaging and CCTP technology.
The development of Proto-USD aims to enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem.