Avail has announced the successful acquisition of the chain abstraction protocol Arcana, marking a strategic step in realizing their multichain vision. The deal involves integrating Arcana's technologies into the Avail infrastructure.
Details of the Arcana Acquisition
On August 27, modular infrastructure firm Avail disclosed its acquisition of the chain abstraction protocol Arcana. The terms of the deal were not fully disclosed, but Avail plans to integrate Arcana's technologies, including its wallet, authentication frameworks, and multi-party computation, along with its team. This will aid in speeding up the development of the Nexus mainnet, scheduled for launch in Q4 2025.
Forging the Nexus Economy and Multichain Vision
For Avail, the acquisition of Arcana serves as a key to realizing their Nexus Economy concept. This approach positions the AVAIL token as the central economic instrument for a seamlessly connected multichain world. The integration of Arcana’s proven technology, already supporting over 2.5 million wallets and facilitating more than 5 million transactions, provides the necessary user-facing components to make this a reality. The development of Avail Nexus, a unification layer, will be an important step toward creating a frictionless user experience across various blockchains.
Who Benefits from the Deal?
Avail’s new architecture promises distinct advantages for different market segments. According to the company, developers will gain a 'build once, deploy everywhere' framework, potentially reducing development time and complexity. Financial aspects are also crucial: Avail has acquired the entire supply of Arcana’s XAR tokens, offering holders a swap into AVAIL at a 4:1 ratio, strategically removing a competing token from circulation.
The acquisition of Arcana by Avail underscores the significance of strategic steps in achieving multichain scalability and simplifying user interactions across blockchains.
