#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. VIA Labs' Proto-USD leverages Avalanche's interchain messaging and CCTP to power native USDC transfers between L1 and numerous other chains. This initiative demonstrates the Avalanche Foundation's commitment to fostering cross-chain interoperability and further propelling the growth 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 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 supporting cross-chain USDC transfers, Proto-USD is expected to foster the growth of the Avalanche ecosystem, attract more users and developers, and further propel Avalanche's advancement.
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 simplifies cross-chain liquidity by combining Avalanche's interchain messaging and CCTP, 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 cross-chain protocol Proto-USD.