
Founders Fund-Backed Avail Acquires Arcana Network, Offers XAR Token Swap 4:1 with 6- and 12-Month Unlocks
Avail, a Web3 infrastructure project backed by Founders Fund, has acquired Arcana Network, a chain abstraction protocol focused on enhancing user experience and adoption in the Web3 ecosystem. This marks Avail's first acquisition, aimed at advancing multichain scalability by integrating Arcana's tooling into the Avail technology stack. As part of the acquisition, holders of Arcana's XAR token can swap their tokens for Avail's AVAIL tokens at a ratio of 4:1, with the swapped tokens unlocking over a period of 6 and 12 months. The move reflects a broader industry trend towards cross-chain infrastructure to prevent liquidity fragmentation and improve usability across multiple blockchain networks.
Sources
- Axelar Network
Issuing on multiple chains is now table stakes. Without cross-chain infrastructure, liquidity fragments + usability suffers. Axelar enables a “deploy once, run everywhere” model for tokens. See how in the full report: https://t.co/uAYHR6ryHw
- ᴛʀᴀᴄᴇʀ
BIG NEWS FOR $AVAIL! @AvailProject has just acquired @ArcanaNetwork, one of the best chain abstraction protocols. This partnership will start the new era of multichain scalability. Don't sleep on AVAIL, team is cooking 👇 https://t.co/wda3RU85ND
- Crypto Fundraising #StandWithUkraine 🇺🇦
Chain abstraction protocol @arcananetwork has been acquired by @AvailProject https://t.co/HqIkNw81U1 https://t.co/BHuhAgOWp6
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