Significant changes in multichain technologies emerged with Avail's acquisition of Arcana Network, highlighting efforts to improve infrastructure for developers.
What This Means for Developers and Users
The acquisition of Arcana Network not only enhances scalability but also simplifies the development process in the multichain environment. The integration of Arcana's developed tools into Avail’s tech stack will allow developers to more quickly and easily adapt to different blockchains, improving user identification and data composition solutions.
Token Swap Details for $XAR Holders
To support the transition, $XAR token holders will have the opportunity to swap their tokens for $AVAIL at a 4:1 ratio. The swap will occur in two phases: 50% of tokens can be swapped over six months, and the remaining 50% over twelve months. This swap structure aims to foster long-term engagement with the Arcana community.
Conclusion on the Significance of the Acquisition
The acquisition of Arcana Network by Avail illustrates the company's commitment to creating a more unified platform that supports Web3 development. This integration emphasizes the importance of innovation in the multichain space, potentially accelerating technological advancement and enhancing developer convenience.
Thus, with the acquisition of Arcana Network, Avail not only strengthens its market position but also opens new avenues for developers in the multichain ecosystem.
