Blockchain data-availability project Avail founded by former Polygon team members has announced the launch of Avail DA Mainnet and the AVAIL token.
This update will mark the first crucial step in Avail’s mission to equip developers with the tools to improve blockchain scalability, liquidity, aiming for seamless usability across various blockchains.
What is Avail DA?
Avail DA is a modular blockchain tech crafted to optimize data availability (DA) for scalable and customizable rollups.
It is a chain-agnostic DA layer that merges KZG commitments with data availability sampling (DAS). This marks a milestone for the blockchain community. The update allows rollups to make the most of the benefits of Ethereum’s danksharding roadmap ahead of its implementation.
“By combining KZG commitments with data availability sampling, we provide the blockchain ecosystem with advanced data availability infrastructure today,” said Prabal Banerjee, co-founder of Avail.
The update will allow developers to connect in any execution environment with Avail DA with just a few lines of code, allowing them to leverage a very powerful blockchain, said Banerjee.
AVAIL Token Launch
The AVAIL token is another important component of this launch and used to pay for DA fees as well as secure the network through staking.
From today, AVAIL holders can stake their tokens on staking.avail.tools, contributing to network security.
Avail Secures $75M in Funding
In June, Avail closed a $43 million Series A funding round with participation from venture capital firms Founders Fund, DragonFly Capital, Cyber Fund, and more.
The funding round is in addition to the $32 million raised in Avail’s pre-seed and seed rounds, bringing the total fundraising to $75 million, said Avail.
Investors in Avail include SevenX, Figment, Nomad Capital, LocalGlobe, Altos Ventures, Chapter One, Superscrypt, Foresight Ventures, Mirana Ventures, KR1, RW3 Ventures, Alliance Dao, Hashkey, Elixir Capital, and Spark Digital Capital.
Team Behind Avail
Avail originated from Polygon Labs, and was co-founded by Anurag Arjun and Prabal Banerjee [pictured]. The team have been working on the DA problem since 2020.
In 2023, Avail took its first steps as an independent entity. Avail’s mission is to offer a robust data availability platform that enables developers to create the next generation of trustless applications.
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