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Market Cap:
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Bitcoin:
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BTC Dominance:
% 54.0
Market Cap:
$2.34 T

Avail Secures $75 Million to Build Unification Layer for Web3

Avail

Avail, a Web3 infrastructure layer, has secured $75 million in funding to develop its Unification Layer, a solution designed to address scalability and interoperability challenges in the Web3 space. The funding comes from prominent investors, including Peter Thiel’s Founders Fund, Cyber Capital, and Dragonfly Capital.

Focus on Rollup Scalability and Interoperability

This funding round builds upon a previous $43 million Series A focused on rollup scalability and interoperability. Avail’s core offering is a Data Availability (DA) solution that aligns with Ethereum’s Danksharding roadmap and is crucial for rollup scalability. Their incentive-driven testnet has demonstrated promising results, processing over 140GB of data submissions and exceeding 118 million completed transactions.

The Unification Layer: A Unified Framework for Blockchains

The newly raised funds will fuel the development of Avail’s Unification Layer and the introduction of Avail DA on the mainnet. This layer aims to provide a unified framework for seamless interaction between different blockchain ecosystems.

Anurag Arjun, Avail’s founder, emphasizes the need for “a way for rollups to scale & come together permissionlessly so that cross-rollup transactions can connect seamlessly.”

The Unification Layer’s Core Modules:

The initial focus of the Unification Layer lies within three core modules:

  1. Avail DA: This module leverages validity proofs and Data Availability Sampling (DAS) to enhance blockchain interoperability. It offers a novel approach for anyone to verify data availability in under a minute without requiring a full node.
  2. Avail Nexus: Building upon Avail DA, Avail Nexus acts as a cross-chain coordination hub, facilitating smoother user and liquidity movement.
  3. Avail Fusion: This module enhances blockchain security by introducing shared security. Avail Fusion enables restaking support for various assets, including ETH and BTC. It further unifies the ecosystem by shielding rollups with robust crypto-economic security derived from a basket of crypto-assets.

Benefits for Developers and Users

Avail’s Unification Layer strives to improve the experience for both blockchain developers and users. Here’s how:

  • Developers: Developers can leverage Avail DA’s capabilities by building custom blockchains with minimal code using any technology.
  • Users: Users benefit from seamless transactions across chains facilitated by Nexus, which manages asset transfers efficiently.
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Avail Airdrop Phase 2

In addition to the funding news, Avail announced the second phase of their $AVAIL airdrop, offering an opportunity to earn free tokens.

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