The cross-chain auction protocol Mayan has completed a $3 million seed round of financing, led by Borderless Capital and others

ChainCatcher news, according to The Block, the cross-chain auction protocol Mayan has completed a $3 million seed round financing, led by 6th Man Ventures (6MV) and Borderless Capital, with participation from Solana Ventures, Hash3, Big Brain Holdings, Arrington Capital, the Wormhole cross-chain ecosystem fund, Solana co-founder Anatoly Yakovenko, and Wormhole Labs co-founder Saeed Badberg. Mayan plans to launch a points system to track user engagement on Mayan.

It is reported that Mayan is built on Solana and can find the best rates for users to execute transactions from any blockchain. The protocol converts input tokens into USDC and then uses Circle's Cross-Chain Transfer Protocol (CCTP) to send it to the target chain. The on-chain system facilitates cross-chain transfers through two processes: burning USDC on the source chain, minting USDC again on the target chain, and communication between Circle and the source chain. Mayan also uses Wormhole's messaging platform to send relevant data for auctions.