#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 leverages Avalanche's interchain messaging and CCTP technology to simplify cross-chain liquidity, enabling USDC to be easily transferred between Avalanche L1 and other networks. The protocol's development aims to enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem, and to power native USDC transfers between L1 and other chains.
Ace Hot Topic Analysis
Analysis
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. 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 providing a cross-chain liquidity solution, Proto-USD is expected to foster interoperability between the Avalanche ecosystem and other blockchains, attracting more users and developers, and driving further growth of the Avalanche ecosystem.
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.
Proto-USD aims to power native USDC transfers between L1 and numerous other chains.
VIA Labs receives a grant through the InfraBUIDL() program to develop the cross-chain protocol Proto-USD for the Avalanche ecosystem.