According to Foresight News, Mayan, a cross-chain auction protocol, has successfully raised $3 million in a seed funding round. The round was jointly led by 6th Man Ventures (6MV) and Borderless Capital, with participation from Solana Ventures, Hash3, Big Brain Holdings, Arrington Capital, Wormhole cross-chain ecosystem fund, and co-founders of Solana and Wormhole Labs, Anatoly Yakovenko and Saeed Badberg respectively.
Mayan is planning to launch a points system to track user engagement on its platform. Built on Solana, Mayan offers users the ability to execute transactions from any blockchain at the best rates. The protocol converts input tokens into USDC, which are then sent to the target chain using Circle's cross-chain transfer protocol (CCTP).
The system on the chain facilitates inter-blockchain transfers by destroying USDC on the source chain, re-minting USDC on the target chain, and communicating between Circle and the source chain. In addition, Mayan uses Wormhole's messaging platform to send relevant auction data.
