On February 26th, Polygon’s modular blockchain project Avail announced the completion of a $27 million seed round of financing. Founders Fund and Dragonfly led the investment, with participation from SevenX Ventures, Figment, Nomad Capital, and others. Angel investors include former Coinbase CTO Balaji Srinivasan, co-founder of Osmosis Sunny Aggarwal, Chief Information Security Officer of Polygon Mudit Gupta, and Chief Operating Officer of AltLayer Amrit Kumar.
As a newcomer in the Web3 field, Avail’s establishment and development have attracted widespread attention in the market. Avail was spun off from Polygon in March 2023, led by Polygon co-founder Anurag Arjun. Avail stated that this round of financing will help accelerate the development of Avail Trinity, a three-step roadmap aimed at providing a secure, scalable, and seamless Web3 experience for users.
Avail Trinity Roadmap
Avail believes that many of the current Rollup and Layer2 solutions on Ethereum have led to fragmentation of users and liquidity, as well as a disjointed user experience reminiscent of early internet usage. The Avail ecosystem aims to balance scalability, interoperability, and security without compromise. This is the design concept behind the three key components of Avail Trinity.
1. Avail DA is the first foundational component of Avail Trinity, which is a foundational layer built for data availability and can accommodate various chains. Avail DA is built using Validity Proofs and Data Availability Sampling (DAS), providing rich Blob space for Rollup builders and serving as a foundational layer for multiple Rollups.
2. Avail Nexus is an interoperability layer, which is a zero-knowledge proof-based coordinated Rollup built on Avail DA. It consists of Proof Aggregation/Verification Layer and Sorter Selection/Slot Auction Mechanism, allowing settlement across Rollups (not just those built within the Avail ecosystem) and across ecosystems. This mechanism is achieved by embedding Validity Proofs-based Avail DAS (Data Availability Sampling) light clients and executing proof aggregation. The aggregated proofs are subsequently sent to Ethereum.
3. Fusion Security is used to ensure the economic security of the platform. It allows Avail’s underlying chain to integrate non-native tokens in addition to Avail’s native token, enhancing the security of the Avail platform and facilitating the introduction and locking of more liquidity from other blockchains into the Avail ecosystem. In other words, Bitcoin, Ethereum, SOL can also contribute to Avail consensus. Fusion Security is inspired by Eigenlayer, Babylon Chain, and Osmosis.
In terms of operation, Avail’s DA layer generates and protects blockspace that other blockchains can use as their own pluggable data availability layer. Using a dedicated AppID, the blockchain publishes transaction data to Avail, which is then submitted and made available. The data published on Avail’s blocks is verified by the Avail network. Avail uses Validity Proofs so that developers and users do not need to trust that Avail network data is available; they can verify it themselves. Avail uses KZG polynomial commitments to ensure that data occupies a place in Avail block headers. Once a new block is eventually determined by verifiers, the validity proof can be used to guarantee the availability of the data after final determination. Avail’s NPoS (Nominated Proof of Stake) blockchain is built using the Polkadot SDK and will support up to 1000 external validators.
Avail Token Utility
It is worth mentioning that Avail also introduced Avail tokens in its vision statement. Avail tokens will play a key role in the network’s circular economy, with the DA, Nexus, and Fusion Security layers of Avail Trinity being protected through Avail token staking. In addition, transaction and cross-chain fees will be paid in Avail’s native tokens, ensuring that the network can sustain itself and providing incentives for all participants.
According to the diagram shown below, if one wants to be part of the sequencer pool and proof aggregation pool, they can stake AVAIL tokens to earn a portion of the sequencer and cross-chain fees.
Of course, Avail has not yet announced its token economics and airdrop details. However, according to the existing information, Avail has closed the “Kate” testnet and shifted its focus entirely to the Goldberg testnet and mainnet’s final determination.
Previously, Avail launched the Clash of Nodes incentive testnet in November last year. Validators, light client operators, and anyone could help validate the network, earn points, and receive potential rewards. Clash of Nodes continues to introduce new challenges this month, including the Dymension and Karnot partner challenges. A week ago, Avail stated, “Users must have points on the leaderboard to be eligible for rewards. For everyone on the Dymension and Madara leaderboards, please stay tuned as rewards are being finalized.”
However, according to Avail’s updated Clash of Nodes challenge list on February 23rd, only the “Attack the Vault” challenge is currently open, and the rest of the challenges have ended. The “Attack the Vault” challenge allows for the discovery and exploitation of potential vulnerabilities in the vault or destruction mechanism.
With the gradual progress of Avail’s Trinity roadmap and the continuous maturation of its technology, we have reason to expect that it will bring a more complete, convenient, and secure user experience to the Web3 ecosystem. At the same time, this will bring new development opportunities and challenges to the entire Web3 industry.
This article is authorized for reprint by Foresight News.
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