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Avail announces the acquisition of the chain abstraction protocol Arcana, and the XAR Token will be exchanged for AVAIL at a ratio of 4:1.
BlockBeats news, on August 27, Avail announced the acquisition of the chain abstraction protocol Arcana, and all XAR tokens will be exchanged for AVAIL at a ratio of 4:1. Arcana’s tools will be integrated into the Avail stack, and most of its team members will also join Avail. The unlocking of the exchanged AVAIL will take place over 6 to 12 months, while the tokens belonging to the Arcana team will unlock over 3 years. Avail is a modular blockchain infrastructure project supported by Peter Thiel’s founder fund and other well-known investors.