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Founders Fund-backed Avail Acquires Arcana, Offering XAR Token Holders 4:1 Swap into AVAIL

Avail’s acquisition of Arcana includes full token conversion and staff integration, aiming to strengthen multi-chain scalability and enhance cross-chain user experience.

Summary

Avail, supported by Founders Fund, has acquired Arcana, securing 100% of Arcana’s XAR token supply with a 4:1 exchange into AVAIL tokens. Most of Arcana’s leadership and staff will join Avail, expanding its workforce to over 55. The acquisition is expected to improve cross-chain balances and user experience, though financial terms remain undisclosed.

Terms & Concepts
  • XAR token: XAR is the native cryptocurrency of the Arcana project, a blockchain platform that aims to provide decentralized storage solutions.
  • AVAIL token: AVAIL is the native cryptocurrency of the Avail project, which focuses on providing infrastructure solutions for decentralized applications.