Founders Fund-backed Avail has acquired Arcana, offering XAR token holders the opportunity to redeem their XAR tokens for AVAIL at a 4:1 ratio.

Avail, the Founders Fund-backed modular blockchain infrastructure project, has acquired Arcana, a chain abstraction protocol aimed at improving multi-chain scalability. This acquisition marks Avail's first, and Arcana's chain abstraction and developer tools will be integrated into the Avail technology stack. As part of the transaction, the Avail Foundation has acquired 100% of Arcana's XAR token supply, with existing holders able to convert them into AVAIL at a 4:1 ratio. Unlocking will occur in phases over six to twelve months, while Arcana team tokens will vest over three years.