OKX Ventures, a division of the popular cryptocurrency exchange OKX, has launched a Series A funding round for Avail, a unification layer focused on addressing rollup fragmentation. The company made the announcement through its official X account.
Exciting news! We are proud to announce our investment in Avail, a cutting-edge unification layer designed to tackle rollup fragmentation at scale. @AvailProject https://t.co/Oro3RFcSqI pic.twitter.com/ZBeaN23WMw
— OKX Ventures (@OKX_Ventures) June 20, 2024
In addition, OKX Ventures shared insights about this initiative in a blog post on Medium. Avail aims to unify and scale rollups and the modular blockchain network by employing shared security, proof aggregation, and data availability. This project serves as a robust layer for Web3 infrastructure.
Avail allows modular layers to scale and operate in a trustless manner. Its innovative approach to unification considers three key components. The first is Avail DA, a state-of-the-art modular layer for data availability that draws on technology outlined in Ethereum’s sharding roadmap. This component offers data availability sampling, validity proofs, and ample blobspace for rollup scalability.
The second component, Avail Nexus, functions as a custom zk coordination rollup that serves as a verification hub for rollups across the Web3 sector. It utilizes proof aggregation and leverages Avail DA. The third component, Avail Fusion, provides a multi-asset staking mechanism that benefits local assets from established ecosystems like Ethereum and Bitcoin, as well as exclusive rollups. This component contributes to the consensus of Avail, offering resilient shared security for the unification layer.
OKX Co-Founder Dora Yue emphasized that Avail aims to deliver an unparalleled user experience through its modular, shared security, and chain abstraction features. This will pave the way for a unified experience in the Web3 space. Yue expressed excitement about the investment in Avail and highlighted the three-part product’s potential to offer a unique user experience.