The Avalanche Foundation provides a grant to VIA Labs for the development of cross-chain protocol Proto-USD
On January 9th, the Avalanche Foundation announced that VIA Labs has received a grant through the InfraBUIDL program. VIA Labs is using this funding to develop the Proto-USD cross-chain protocol for the Avalanche ecosystem.
It was introduced that Proto-USD simplifies cross-chain liquidity, enabling USDC to be easily transferred between Avalanche L1 and other networks, aiming to enhance the accessibility, scalability and overall connectivity of the Avalanche ecosystem.
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