Dragonfly Capital led the investment! Modular blockchain project Avail receives $27 million in seed round financing

This site (120bTC.coM): The latest announcement from the modular blockchain project Avail pointed out that the protocol completed a $27 million seed round yesterday, funded by Founders Fund and Dragonfly Capital led the investment, and the funds will be used for the future development of three major products: Avail DA, Nexus and Fusion Security.

Avail received US$27 million in financing

As a potential project of modular blockchain, Avail announced that it has received US$27 million in financing, led by venture capital companies Founders Fund and Dragonfly Capital, and also Including SevenX, Figment, Nomad Capital and some angel investors.

It is understood that the Avail project originally came from Polygon Avail, and subsequently became independent from Polygon Labs in March last year and operated independently as an entity.

Avail project leader: Will be used to develop core products

As the former co-founder of Polygon and the leader of the current Avail project, Anurag Arjun said: The funds raised in this seed round The funds obtained will be used to develop three core products: Avail DA, Nexus and Fusion Security.

Avail Trinity

The Avail Trinity

Specifically, the main functions of the above three products are as follows:

• Avail DA: It is the basic layer of Avail, providing rich data space to L2 and Rollups to process transactions faster and cheaper, while supporting Rollups to form a prosperous ecosystem.

• Avail Nexus: It is the unified layer of Avail, used to unify Rollup on any system, using Avail DA as the root of trust for coordination, to achieve coordination and interoperability between different ecosystems sex.

• Avail Fusion Security: Avail’s security layer for connecting the growing rollups and blockchain ecosystem. It uses native tokens of mature blockchains such as BTC and ETH to enhance the security of the entire ecosystem.

The announcement reads that AvailDA is expected to be launched in the second quarter of 2024, and Nexus and Fusion Security will follow closely: Avail is laying the foundation for the future of blockchain integration. , where independent ecosystems will be able to implement their own technology and scaling solutions while remaining connected through a trusted and secure orchestration layer.

Data Availability Layer (DA) solutions are highly competitive

With the rapid development of blockchain expansion technology and the upcoming Ethereum Cancun upgrade, focusing on the Data Availability Layer (Data Availability (DA) project fierce competition has gradually surfaced.

Specifically, they include Celestia, the leader of the modular blockchain project that launched the mainnet in October last year, Eigen DA being developed by the re-pledge agreement EigenLayer, NEAR DA and BNB, which are committed to maximizing the reduction of transaction costs. Greenfield et al.

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