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Modular blockchain project Avail secures $27 million in seed funding led by Dragonfly Capital

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Modular blockchain project Avail secures $27 million in seed funding led by Dragonfly Capital

The latest announcement from the modular blockchain project Avail indicates that the protocol completed a $27 million seed funding round yesterday, led by Founders Fund and Dragonfly Capital. The funds will be used for the development of Avail's three main products in the future: Avail DA, Nexus, and Fusion Security.

Avail Secures $27 Million in Funding

As a potential project in modular blockchain technology, Avail has announced a $27 million funding round led by venture capital firms Founders Fund and Dragonfly Capital, along with participation from SevenX, Figment, Nomad Capital, and several angel investors.

It is understood that the Avail project originally emerged from Polygon Avail and later became independent from Polygon Labs in March of last year, operating as a standalone entity.

Avail Project Lead: Funds to be Used for Core Product Development

As a former co-founder of Polygon and current leader of the Avail project, Anurag Arjun stated :

The funds raised in this seed round will be used to develop three core products: Avail DA, Nexus, and Fusion Security.

Avail Trinity: The Avail Trinity

The Avail Trinity

Specifically, the primary functions of the three products are as follows:

  • Avail DA: serves as the foundational layer of Avail, providing rich data space to L2 and Rollups for faster and cheaper transaction processing, while supporting the formation of a thriving ecosystem for Rollups.
  • Avail Nexus: acts as the unifying layer of Avail, enabling the unification of Rollups on any system, utilizing Avail DA as the coordinating trust source to achieve coordination and interoperability between different ecosystems.
  • Avail Fusion Security: serves as the security layer of Avail, connecting the growing rollups and blockchain ecosystem. It enhances the security of the entire ecosystem using native tokens from mature blockchains such as BTC and ETH.

The announcement noted that Avail DA is expected to launch in the second quarter of 2024, followed by Nexus and Fusion Security:

Avail is laying the foundation for the future integration of blockchains, where independently operating ecosystems can implement their own technical and scaling solutions, while staying connected through a trusted and secure coordination layer.

Intense Competition in Data Availability Layer (DA) Solutions

With the rapid development of blockchain scaling technologies and the upcoming Ethereum upgrade to Constantinople, the fierce competition in projects focusing on the Data Availability Layer (DA) is gradually coming to the forefront.

Intense Competition in Modular Track: Polygon CDK Integrates Celestia to Strengthen Competitiveness

Specifically, leading modular blockchain projects such as Celestia, which launched its mainnet in October last year, EigenDA being developed by staking protocol EigenLayer, NEAR DA dedicated to maximizing transaction cost reduction, and BNB Greenfield, among others.

Insight into the Pros and Cons of Various DA Layer Projects: Perspective on the Diverse Development of Data Availability Layer (DA) Competition