PANews, August 27 - According to The Block, the modular blockchain infrastructure project Avail, supported by Founders Fund, has acquired the chain abstraction protocol Arcana, aiming to enhance multi-chain scalability. This acquisition marks Avail's first acquisition, and Arcana's chain abstraction and developer tools will be integrated into Avail's technology stack. As part of the deal, the Avail Foundation has acquired 100% of Arcana's XAR token supply, allowing existing holders to exchange at a 4:1 ratio for AVAIL. Unlocking will occur in phases over 6 to 12 months, while the vesting of Arcana team tokens will take place over three years.
Prabal Banerjee, co-founder of Avail, stated that acquisition negotiations began in April 2025 and the deal has now been fully completed. Besides the token swap structure, other financial terms have not been disclosed. Most of the leadership and staff from Arcana will transition to Avail, bringing the team size to over 55 people, with plans for further recruitment. Through this acquisition, Avail aims to unify cross-chain balances, intent-based execution, and in-app user experiences. It is reported that Arcana has raised approximately $5.5 million from investors such as Digital Currency Group, Republic, Sandeep Nailwal, and Balaji Srinivasan so far.
