Financing of 27 million dollars, how does Avail's "trinity" roadmap accelerate the unification of Web3?
Split from Polygon, completed a $27 million seed round financing, a quick overview of Avail's "trinity" roadmap and token utility.Written & Compiled by: Karen, Foresight News
On February 26, the modular blockchain project Avail from Polygon announced the completion of a $27 million seed round financing, led by Founders Fund and Dragonfly, with participation from SevenX Ventures, Figment, Nomad Capital, and angel investors including former Coinbase CTO Balaji Srinivasan, Osmosis co-founder Sunny Aggarwal, Polygon Chief Information Security Officer Mudit Gupta, and AltLayer COO Amrit Kumar.
As a new force in the Web3 space, Avail's establishment and development have garnered widespread attention from the market. Avail was spun off from Polygon in March 2023, led by Polygon co-founder Anurag Arjun. Avail stated that this round of financing will help accelerate the development of Avail Trinity, a three-phase roadmap aimed at providing users in the Web3 ecosystem with a secure, scalable, and seamlessly interconnected Web3 experience.
Avail "Trinity" Roadmap
Avail believes that many Rollup and Layer2 solutions on Ethereum currently lead to fragmentation of users and liquidity, as well as a disconnection in user experience, reminiscent of the early internet experience. The Avail ecosystem primarily aims to balance scalability, interoperability, and security without compromise, which is also the source of the design philosophy for the three key components of Avail Trinity.
- Avail DA is the first foundational component of Avail Trinity, a foundational layer built specifically for data availability that can accommodate various chains. Avail DA is constructed using validity proofs and Data Availability Sampling (DAS), providing ample Blob space for Rollup builders and serving as a foundational layer for multiple Rollups.
- Avail Nexus is an interoperability layer, a coordination Rollup based on zero-knowledge proofs built on Avail DA, consisting of a proof aggregation/verification layer and a sequencer selection/slot auction mechanism, allowing for cross-Rollup (not just Rollups built within the Avail ecosystem) and cross-ecosystem settlement. This mechanism is achieved by embedding Avail DAS (Data Availability Sampling) light clients based on validity proofs and executing proof aggregation. The aggregated proofs will then be sent to Ethereum.
- Fusion Security is used to ensure the economic security of the platform, allowing the Avail foundational chain to integrate non-native tokens in addition to Avail's native tokens to enhance the security of the Avail platform and help bring more liquidity from other blockchains into the Avail ecosystem. In other words, Bitcoin, Ethereum, and SOL can also contribute to Avail consensus. Fusion Security is inspired by Eigenlayer, Babylon Chain, and Osmosis.
In terms of operation, Avail's DA layer generates and protects blockspace that other blockchains can use as their own pluggable data availability layer. Using a dedicated AppID, blockchains will publish transaction data to Avail, which is submitted and made available. The data published on Avail blocks is validated by the Avail network. Avail employs validity proofs so that developers and users do not need to trust that the data on the Avail network is available; they can actually verify it themselves. Avail uses KZG polynomial commitments to ensure that data occupies a place in the Avail block header. Once a new block is finalized by validators, validity proofs can be used to guarantee the availability of the data after finalization. Avail's Nominated Proof of Stake (NPoS) blockchain is built using the Polkadot SDK, supporting up to 1,000 external validators.
What is the Utility of Avail Tokens?
It is worth mentioning that Avail also introduced the Avail token in its vision statement, which will play a key role in the network's circular economy. The DA, Nexus, and Fusion security layers in the Trinity will be protected through staking Avail tokens. Additionally, transaction and cross-chain fees are paid in Avail's native tokens, ensuring that the network can sustain itself and provide incentives for all participants.
As shown in the diagram below, if one wants to be part of the sequencer pool and proof aggregation pool, they can stake AVAIL tokens to earn a portion of the sequencer fees and cross-chain fees.
Of course, Avail has not yet disclosed token economics and airdrop details. However, based on available information, Avail has closed the "Kate" testnet, and the focus has completely shifted to the finalization of the Goldberg testnet and mainnet.
Avail previously launched the Clash of Nodes incentive testnet last November. Validators, light client operators, and anyone can help validate the network, earn points, and receive potential rewards. Clash of Nodes continues to roll out new challenges this month, including two partner challenges from Dymension and Karnot. A week ago, Avail stated, "Users must have points on the leaderboard to be eligible for rewards. For everyone who makes it onto the Dymension and Madara leaderboards, stay tuned; rewards are being finalized."
However, according to Avail's updated Clash of Nodes challenge list on February 23, currently only the "Attack Treasury" challenge is open, while the other challenges have ended. The "Attack Treasury" challenge allows for the discovery and exploitation of potential vulnerabilities in the treasury or destruction mechanisms.
As Avail's "Trinity" roadmap progresses and technology continues to mature, we have reason to expect it will bring a more complete, convenient, and secure user experience to the Web3 ecosystem, while also presenting new development opportunities and challenges for the entire Web3 industry.
