Avail announces acquisition of chain abstraction protocol Arcana
Jinse Finance reported that the modular blockchain infrastructure project Avail has acquired the chain abstraction protocol Arcana. According to the acquisition agreement, the Avail Foundation will obtain the entire XAR token supply of Arcana, and existing XAR holders can swap their tokens for AVAIL at a 4:1 ratio. The swapped tokens will be unlocked in phases over 6 and 12 months, while the Arcana team's tokens will be gradually unlocked over 3 years. Arcana's chain abstraction and developer tools will be integrated into Avail's technology stack, and most of Arcana's team members will also join Avail.
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