Project Name: Avail
Tag: $AVAIL
Type: Depin

Introduction

Avail is a modular blockchain that offers potential solutions to the rollup fragmentation issue through its three products: Avail DA, Nexus, and Fusion. These products allow modular execution layers to scale and interoperate with minimal trust.

Project Principle

Data Availability through Proof

The Avail project primarily focuses on data availability rather than execution-level verification, simplifying the node validation process for blocks. Unlike traditional systems that emphasize the verification of the state of decentralized applications, Avail ensures the availability and orderliness of transaction data. In a traditional blockchain architecture, both validation nodes and full nodes need to fully backtrack the submitted block data. However, with Avail’s design, nodes only need to use data availability algorithms to quickly confirm blocks by verifying the block header information, significantly improving system efficiency.

KZG Polynomial Commitment Verification

To address data availability issues, block-submitting nodes must use a certain commitment to ensure the integrity and accuracy of the data while completing block validation. Avail uses KZG polynomial commitments as a core design element, enhancing data block confirmation speed while reducing the complexity and difficulty associated with fraud proofs. Avail’s KZG-based design features three notable characteristics:

• Data Redundancy: Effectively prevents block producers from hiding or tampering with any data in the block.
• Fraud-Free: Ensures the correctness of erasure coding, avoiding complex anti-fraud processes.
• Simple Proof Mechanism: Allows full nodes to use simplified proof methods to convince light nodes of transaction inclusivity, thereby enhancing system security and stability. Avail provides data availability validation for L1 light nodes and L2 rollups through KZG polynomial commitments, allowing L2 rollups to confirm data availability without the need for fraud proofs, which means rapid data availability confirmation without relying on specialized nodes for validation or challenges.

AVAIL Staking

Avail tokens will be used for staking to ensure the security of Avail’s three products: Avail DA, Avail Nexus, and Avail Fusion. Transaction fees and bridging fees will be paid using Avail’s native tokens. Therefore, any rollup that wants to enhance interoperability with Avail Nexus, benefit from the shared security of Avail Fusion, and gain the guarantees of Avail DA will increase the value and utility of the Avail native tokens. [Image] As the rollup ecosystem grows, the demand for Avail native tokens will also increase, as they need to be staked to become part of the sequencer pool and the proof aggregator pool, both of which are expected to generate significant value capture.

Key Metrics

Tokenomics

The tokenomics for AVAIL has not been announced yet.

Community & Background

• Twitter Followers: 343,500+
• Discord Members: 220,500+
  On June 4, 2024, Avail raised $43 million in an oversubscribed Series A round with participation from prominent venture capital firms including Founders Fund, DragonFly Capital, Cyber Fund, and other well-known VCs. Combined with the $32 million raised in the seed round, Avail’s total funding amounts to $75 million.