#Avalanche Foundation funds cross-chain protocols#
Hot Topic Overview
Overview
The Avalanche Foundation recently awarded a grant to VIA Labs for the development of the cross-chain protocol Proto-USD. Proto-USD leverages Avalanche's interchain messaging mechanism and CCTP to simplify cross-chain liquidity, enabling USDC to be easily transferred between Avalanche L1 and other networks. The protocol aims to enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem, and through @VIA_Labs' Proto-USD, power native USDC transfers between L1 and numerous 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 aimed at enhancing the accessibility, scalability, and overall connectivity of the Avalanche ecosystem. By simplifying cross-chain liquidity, Proto-USD is expected to foster the growth of the Avalanche ecosystem, attracting more users and developers. The success of the protocol will contribute to Avalanche becoming a more interconnected blockchain ecosystem, providing users with a more convenient cross-chain experience.
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.
The development of Proto-USD will contribute to the Avalanche ecosystem's interoperability with other blockchain networks, fostering cross-chain liquidity and asset transfers.
Avalanche Foundation's support for Proto-USD's development through the InfraBUIDL program demonstrates its commitment to cross-chain technology and ecosystem interoperability.