#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. The protocol combines Avalanche's interchain messaging and CCTP to power native USDC transfers between L1 and many other chains. The development of Proto-USD will enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem, further driving the cross-chain development 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 streamlining cross-chain liquidity, Proto-USD is expected to foster the growth of the Avalanche ecosystem, attract more users and developers, and strengthen its influence 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 and enable easy transfer of USDC 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.
The development of Proto-USD aims to enhance the accessibility, scalability, and overall connectivity of the Avalanche ecosystem.
Avalanche Foundation's support for VIA Labs' project through the InfraBUIDL() program demonstrates its commitment to cross-chain technology and its investment in the development of the Avalanche ecosystem.