Avail announces acquisition of chain abstraction protocol Arcana, XAR tokens to be exchanged for AVAIL at a 4:1 ratio

BlockBeats News, August 27, Avail announced the acquisition of the chain abstraction protocol Arcana. All XAR tokens will be exchanged for AVAIL at a ratio of 4:1. Arcana's tools will be integrated into the Avail stack, and most of its team members will also join Avail. The unlocked AVAIL after the exchange will be released over a period of 6 to 12 months, while the tokens belonging to the Arcana team will be unlocked over 3 years.

Avail is a modular blockchain infrastructure project supported by Peter Thiel's Founders Fund and other well-known investors.