OKX Ventures, a venture capital platform affiliated with the well-known cryptocurrency exchange OKX, has kicked off a new round of investment. The company has announced the initiation of a Series A investment round for Avail, a unification layer aimed at addressing rollup fragmentation. This exciting news was shared on the official X account of the platform.
Exciting news! We are proud to announce our Series A investment in Avail, a 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 to this, OKX Ventures has also released a blog post on Medium to provide further details on this initiative. Avail, according to OKX Ventures, is focused on unifying and scaling rollups and the modular blockchain network. To achieve this, it reportedly utilizes a combination of shared security, proof aggregation, and data availability. The project acts as a robust layer for the Web3 infrastructure.
Avail allows modular layers to scale and interact in a trustless manner. The platform’s potential lies in its innovative approach to unification, considering three main components. Avail DA, a cutting-edge modular layer for data availability, is one of them. It is said to leverage technology outlined in Ethereum’s danksharding roadmap, including data availability sampling and validity proof provision, as well as ample blobspace for scaling rollups.
The second component, Avail Nexus, functions as a custom zk coordination rollup serving as a verification hub for rollups across the Web3 sector. It uses proof aggregation and also integrates Avail DA. The third component, Avail Fusion, offers a multi-asset staking mechanism benefiting local assets from established ecosystems like Ethereum and Bitcoin, along with exclusive rollups. This component enables them to participate in Avail’s consensus, providing resilient shared security for the unification layer.
OKX Co-Founder Emphasizes User Experience Improvement as Development Goal
With these components, Avail can combine modularity, shared security, and chain abstraction, resulting in a seamless user experience in the modular era of Web3. Dora Yue, the founder of OKX Ventures, expressed excitement about this development. She highlighted that Avail’s three-part product will deliver an unparalleled user experience.