Founders Fund-backed Avail has acquired Arcana to offer XAR token holders a 4:1 chance to exchange AVAIL

PANews August 27th news, according to The Block, Avail, a modular blockchain infrastructure project supported by Founders Fund, has acquired the chain abstraction protocol Arcana, aiming to improve multi-chain scalability. The acquisition is Avail's first acquisition, with Arcana's chain abstraction and developer tools integrated into the Avail technology stack. As part of the deal, the Avail Foundation has acquired 100% of Arcana's XAR token supply, and existing holders can exchange it for AVAIL at a 4:1 ratio. Unlocking will be staged in 6- to 12-month phases, while the ownership of Arcana team tokens will be staged in three years. Avail co-founder Prabal Banerjee said the acquisition negotiations began in April 2025 and the transaction has been fully completed. Other financial terms have not been disclosed except for the token swap structure. Most of Arcana's leadership and staff will be transferred to Avail, bringing the team to more than 55 people and planning further recruitment. Through this acquisition, Avail aims to unify cross-chain balances, intent-based execution, and in-app user experience. Arcana has so far raised about $5.5 million from investors including Digital Currency Group, Republic, Sandeep Nailwal and Balaji Srinivasan.