TechFlow news, August 27 — According to The Block, modular blockchain infrastructure project Avail has announced the acquisition of the chain abstraction protocol Arcana. Under the acquisition agreement, the Avail Foundation will receive the entire supply of XAR tokens, and existing XAR holders can swap their tokens for AVAIL at a 4:1 ratio.
The swapped tokens will be unlocked in phases over 6 and 12 months, while Arcana team tokens will vest gradually over 3 years. Arcana’s chain abstraction and developer tools will be integrated into Avail’s technology stack, and most of Arcana’s team members will join Avail.
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