Avail announces acquisition of chain abstraction protocol Arcana

modular blockchain infrastructure project Avail has acquired the chain abstraction protocol Arcana. According to the acquisition agreement, the Avail Foundation will receive the entire supply of Arcana's XAR tokens, and existing XAR holders can exchange tokens for AVAIL at a ratio of 4:1.

The exchanged tokens will be unlocked in stages over 6 and 12 months, while the tokens of the Arcana team will be gradually unlocked over 3 years. Arcana's chain abstraction and developer tools will be integrated into Avail's tech stack, and most of its team members will also join Avail.