TL;DR
- Avail has secured $27 million in seed funding led by Founders Fund and Dragonfly to develop three key products. Data Availability (DA), Nexus, and Fusion.
- Its main goal is to accelerate the unification of Web3 through these components. Representing a significant milestone in the blockchain technology world, where scalability and security are crucial.
- It stands out for its focus on protocol neutrality, open-source principles, and community collaboration. Utilizing Polkadot’s Substrate technology and nominated proof-of-stake (nPOS) to address scalability and security challenges in Web3.
Avail, a spinoff from Polygon, has announced the raising of $27 million in seed funding, led by Founders Fund and Dragonfly. This funding will be allocated towards the development of three key products within Avail’s platform. Data Availability (DA), Nexus, and Fusion.
The aim is to accelerate the unification of Web3 through these core components, which together form the “Avail Trinity.” This represents a significant step in the world of blockchain technology, where scalability and security are fundamental aspects for decentralized application development.
The day is here! We’re unfolding the cards!
Avail raises $27m, led by @foundersfund and @dragonfly_xyz to accelerate the unification of web3!
With this, we’ll build the Avail trinity – a three-phase roadmap aimed at unifying multiple ecosystems in web3.
Consisting:
• Avail… pic.twitter.com/DbmuNdoPKz
— Avail | ✈️ ETH Denver (@AvailProject) February 26, 2024
Avail’s decision to branch out from Polygon and focus on protocol neutrality, open-source principles, and community-driven initiatives showcases its commitment to innovation and collaboration in the blockchain ecosystem.
By leveraging Polkadot’s Substrate technology and employing nominated proof-of-stake (nPOS) for broad participation distribution, Avail is positioning itself as a key player in evolving scalability and security solutions in Web3.
Avail Aims to Forge the Future of Web3
Avail’s team, led by co-founder Anurag Arjun. Emphasizes a future centered around rollups for blockchain scalability, anticipating a proliferation of rollups beyond Ethereum Virtual Machine (EVM)-based rollups.
Their products seek to address the scalability and security challenges in Web3. Avail DA, for instance, is designed to tackle rollup scalability while ensuring data availability security. On the other hand, Nexus will serve as the nerve center for verification. Bringing together rollups both within and outside the ecosystem. Finally, Fusion Security will provide robust security for the Avail platform.
Avail is currently operational on a testnet and aims to secure additional funding before its launch on the mainnet. With estimated dates for the implementation of its core products. It is poised to play a significant role in the evolution of Web3 and the creation of a more scalable, secure, and unified ecosystem.
