Fun

Blockchain data-availability protocol Avail announces 600M token airdrop

News Feed - 2024-04-19 05:04:20

Zhiyuan Sun3 hours agoBlockchain data-availability protocol Avail announces 600M token airdropThe airdrop was announced one year after Avail was spun-off from Polygon Labs.1815 Total views7 Total sharesListen to article 0:00Markets NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksAvail, a Web3 infrastructure layer built using Polygon’s software development kit, will be airdropping 600 million of its native AVAIL tokens to users.


“The Unification Drop is a unifying force bringing different communities together, rewarding developers, governance contributors, technical educators, rollup users, stakers, and other valuable contributors from across multiple blockchain communities,” Avail said in an April 18 statement. 


Founded in 2020, Avail consists of three segments: Nexus, Fusion and DA. Avail DA improves base-layer transactions further by scaling rollups via methods such as KZG commitments and data availability sampling. 


Data availability enables nodes to verify bundled transactions without having to download all data for a block. Meanwhile, KZG commitments, common in zero-knowledge protocols, allow for the verification of underlying data without revealing private information. 


At the same time, Avail Nexus provides a cross-chain bridge for users to transact or swap for assets on multiple blockchains. Finally, Avail Fusion allows the liquid staking of assets on Ethereum, Bitcoin and others. 


According to its developers, AVAIL is used to “obtain Avail DA services, secure the unification layer via staking, and take part in governance.” Tokens are airdropped based on a user’s total time, depth and impact of their commitments to the ecosystem. A total of 354,605 wallet addresses will receive the airdropped AVAIL token upon mainnet launch.


Out of the 600 million token airdrop supply, 90 million are allocated to blockchain ecosystem developers, 49.5 million to testnet users, 380 million to rollup users on various blockchains such as Arbitrum One, 70 million to Polygon stakers and 10.5 million to community contributors. 


The airdrop is not exclusive to users of the Avail or Polygon ecosystems. “Unification of Web3 requires unification to happen at the most fundamental level,” Avail wrote. “This [airdrop] includes Bitcoin, Ethereum, Solana, Cosmos, Avalanche, Near, and others who have each made unique contributions to the blockchain ecosystem.”


Many in the Polygon community spoke highly of the airdrop. “Oooh, looks like a massive airdrop is upon @0xPolygon community,” commented Polygon co-founder Sandeep Nailwal, in relation to the news. 


Avail was spun off from Polygon Labs on March 16, 2023. At the time, developers explained that the move was due to Polygon shifting its attention to more Ethereum-native data availability efforts. “Avail as a standalone layer will be better positioned to play a leading role in bringing modular blockchain architectures to market and enabling any Web3 project to scale,” Polygon Labs said in a statement. 


Related: Polygon CEO says L3s are taking value away from Ethereum, sparking debate# Blockchain# Cryptocurrencies# Airdrop# PolygonAdd reaction

News Feed

German Crypto Regulator BaFin Shuts Down Unauthorized Bitcoin ATMs
German Crypto Regulator BaFin Shuts Down Unauthorized Bitcoin ATMs Germany’s Federal Financial Supervisory Authority (BaFin) has shut down unauthorized bitcoin ATMs in the
Tokenization’s next phase requires real-world data integration — Chainlink
Ezra Reguerra1 hour agoTokenization’s next phase requires real-world data integration — ChainlinkChainlink Labs’ director of capital markets said that enhancing tokens with real-world data could unlock better appli
Whale Alert: $2 Million PEPE Purchase Sees 105 Billion Tokens Snapped Up
Este artículo también está disponible en español. A prominent player has dominated the limelight in the crypto circle by buying more than 105 billion PEPE tokens at a cos
Avalanche to reward devs building layer-1 chains with $40M grant
Ezra Reguerra11 hours agoAvalanche to reward devs building layer-1 chains with $40M grantAn Avalanche spokesperson told Cointelegraph that the grant program will reward developers who create layer-1 chains and critical t
Dogecoin Enters Danger Zone — Chartist Predicts Sharp Drop Ahead
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Joe Biden: US Bringing 30 Countries Together to Stop ‘Illicit Use of Cryptocurrency’
Joe Biden: US Bringing 30 Countries Together to Stop "Illicit Use of Cryptocurrency" President Joe Biden says that the U.S. will bring together 30 countries to stop “the ill
Top Analyst Predicts Ethereum Could Ignite Bull Rally If Price Surpasses $2,330
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
GBTC Manager Insists the ‘Holdings of Grayscale’s Digital Asset Products Are Safe and Secure’
GBTC Manager Insists the ‘Holdings of Grayscale’s Digital Asset Products Are Safe and Secure’ On Nov. 18, 2022, at 5:47 p.m. (ET), Grayscale Investments’ official Twit
Derek Andersen2 hours agoGovernment objects to ‘unnecessary,’ ‘prejudicial’ SBF jury selection questionsThe U.S. attorney sees no reason for potential jurors to discuss effective altruism or ADHD, among other thi
Tomer Warschauer Nuni11 hours agoWeb3’s resilience amidst the bear market: A promising horizon awaitsIn the bear market"s quiet, there is ample room for ideation, innovation and the laying of a foundation that will not
Best New Meme Coins on Presale as Bitcoin Nears Next Bull Run
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
SEC reviews new rules for Bitcoin options trading
Ana Paula Pereira7 hours agoSEC reviews new rules for Bitcoin options tradingThe Securities and Exchange Commission is evaluating whether exchanges’ current surveillance and enforcement mechanisms can handle Bitcoin ex