Avail, a blockchain data-availability initiative that former Polygon team members established, has announced the launch of the AVAIL token and the Avail DA Mainnet.
This update will represent the initial critical phase of Avail’s initiative to provide developers with the necessary resources to enhance the scalability and liquidity of blockchains and achieve seamless utility across various blockchains.
What is Avail DA?
Avail DA is a modular blockchain technology that enhances data availability (DA) for scalable and customizable rollups.
This DA layer is chain-agnostic and combines data availability sampling (DAS) with KZG commitments. This represents a significant achievement for the blockchain community.
The update enables rollups to capitalize on the advantages of Ethereum’s danksharding roadmap before its implementation.
Prabal Banerjee, co-founder of Avail, stated, “We are currently offering the blockchain ecosystem advanced data availability infrastructure by integrating KZG commitments with data availability sampling.”
Banerjee stated that the update will enable developers to establish a connection with Avail DA in any execution environment with the simplicity of a few lines of code, thereby enabling them to capitalize on a highly potent blockchain.
AVAIL Token Launch
Another critical element of this launch is the AVAIL token, which is utilized to pay for DA fees and secure the network through staking.
From today, holders of AVAIL tokens may stake their tokens on staking. Avail. Tools, thereby contributing to the security of the network.
Avail Secures $75M in Funding.
Founders Fund, DragonFly Capital, Cyber Fund, and other venture capital firms participated in a $43 million Series A funding round that Avail completed in June.
According to Avail, the funding round is in addition to the $32 million raised in the pre-seed and seed rounds, bringing the total fundraising to $75 million.
SevenX, Figment, Nomad Capital, LocalGlobe, Altos Ventures, Chapter One, Superscript, Foresight Ventures, Mirana Ventures, KR1, RW3 Ventures, Alliance Dao, Hashkey, Elixir Capital, and Spark Digital Capital are among the investors in Avail.
Team Behind Avail Avail was co-founded by Anurag Arjun and Prabal Banerjee [pictured] and was initially developed by Polygon Labs. Since 2020, the team has been addressing the DA issue.
Avail initiated its operations as an autonomous entity in 2023. Avail’s objective is to provide a reliable data availability platform that enables developers to develop the next iteration of trustless applications.
