Avail, backed by Founders Fund, announced its acquisition of Arcana, offering XAR token holders a 4:1 exchange for AVAIL tokens.
Deal Details
Following the deal, XAR token holders will be able to exchange their tokens for AVAIL at a 4:1 ratio. The terms of the swap are detailed on the official platforms of both projects. The Arcana team will integrate into Avail, utilizing their technologies and tools to enhance multichain data availability.
Market Reactions
Market reactions to the deal have been mixed, with AVAIL's price dropping while XAR saw an uptick. Investors responded swiftly to the policy shifts and strategic objectives outlined in the partnership. XAR token swaps for AVAIL will occur over several months, potentially affecting liquidity.
Long-term Prospects and Analysis
Expert analysis indicates that this acquisition could lead to long-term ecosystem growth similar to the MATIC/HERMEZ merger. The long-term implications of the deal may be seen in expanding developer access to new commercial dynamics and liquidity changes in the cryptocurrency sector.
The acquisition of Arcana by Avail may be a significant step toward enhancing comprehensive data availability in multichain systems, potentially influencing the development of the crypto ecosystem in the future.
