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Avail announces acquisition of chain abstraction agreement Arcana

Online reports that Avail, a modular blockchain infrastructure project, has acquired the chain abstraction protocol Arcana. Under the acquisition agreement, the Avail Foundation will receive Arcana's entire XAR token supply, and existing XAR holders can exchange tokens with AVAIL in a 4:1 ratio. The replaced tokens will be unlocked in stages over 6 and 12 months, while the Arcana team's tokens will be unlocked gradually over 3 years. Arcana's chain abstraction and developer tools will be integrated into Avail's technology stack, and most of its team members will also join Avail.

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