OKX Ventures Announces Series A Round Investment in Avail, a Unification Layer to Solve Rollup Fragmentation at Scale
Singapore, June 20, 2024 — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its participation in the Series A investment round for Avail, a unification layer designed to solve rollup fragmentation at scale. Avail aims to scale and unify rollups and the modular blockchain ecosystem through a combination of data availability (DA), proof aggregation and shared security.
Avail is a robust Web3 infrastructure layer designed to enable modular execution layers to scale and be interpreted in a trust-minimized way. Avail’s strengths lie in its innovative approach to unification, which comprises three key components:
- Avail DA: A state-of-the-art modular data availability layer that implements the same technology planned in Ethereum’s danksharding roadmap, including data availability sampling (DAS) with validity proofs, providing abundant blobspace for rollups to scale.
- Avail Nexus: A custom zero-knowledge coordination rollup that acts as a verification hub, unifying rollups across Web3 via proof aggregation and using Avail DA as the root of trust.
- Avail Fusion: A multi-asset staking mechanism that allows native assets from mature ecosystems like Bitcoin and Ethereum, as well as new rollup tokens, to contribute to Avail’s consensus, providing strong shared security for the unification layer.
These components enable Avail to synthesize modularity, chain abstraction and shared security, creating a unified experience for the modular era of Web3.
OKX Ventures Founder Dora Yue said: “We’re delighted to invest in Avail, which is now more than just a modular DA layer. Avail is becoming a major innovator, serving as a bridge-like, unifying layer to connect and aggregate these different technology stacks. Avail aims to build “The Avail Trinity” — a three-part modular technology framework that simplifies interoperability and reduces the burden on developers and users, while increasing the efficiency of the entire ecosystem. In the current Ethereum ecosystem, users must switch between different rollups in order to fund or transfer money across the chain. We’re confident that Avail’s three products will provide a seamless user experience and solve the challenge of fragmented rollups in the near future.”
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About OKX Ventures
OKX Ventures is the investment arm of the second-largest crypto exchange by trading volume and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
