The blockchain project Avail has just introduced in mainnet the first modular data availability (DA) layer while simultaneously launching its own crypto airdrop.
Months after the announcement of the checker, the actual distribution of the AVAIL token to eligible users finally arrives.
The new cryptographic resource will be used to pay the fees for the data availability service and to ensure network consensus through staking.
Let’s see all the data from the airdrop post-launch.
Avail launches on mainnet and distributes its crypto airdrop to users
After various preliminary checks and internal stress tests, the Avail blockchain has finally gone mainnet, simultaneously inaugurating the airdrop of the crypto with the same name.
The project, which aims to solve the problem of rollup fragmentation through a unified layer, completed the distribution of AVAIL tokens on Tuesday, July 23.
As mentioned, the new currency serves as a resource to pay the fees of the cryptographic network. At the same time, it plays a key role in the governance and consensus of Avail. In fact, it can be staked by participating in the “Proof-of stake” mechanism and can be used to participate in the community’s decision-making processes.
Avail DA Mainnet & the AVAIL token are now live!
Today marks the launch of Avail DA, the first modular data availability layer using validity proofs + data availability sampling. Now, build blockchains that truly scale with demand.
The AVAIL token powers the network—pay fees,… pic.twitter.com/t3SNvRV8Sl
— Avail (@AvailProject) July 23, 2024
With the inauguration of the airdrop, all users who were eligible according to the checker, previously announced by Avail in April, were able to claim the prize.
According to what was communicated in the blog post of the project, among the entities that contributed the most to the development of the infrastructure, we find the following categories shown in the figure.
The largest slice of the airdrop went to the top rollup users of the Arbitrum, OP Mainnet, Polygon ZkEVM, Starknet networks and ZkSync, with 380 million AVAIL allocated.
With the launch on mainnet, Avail has also enabled a bridge that allows the transfer of new AVAIL tokens between its own blockchain and that of Ethereum.
After this new milestone, the modular solution Avail DA is now ready to help developers build more scalable, economical, and composable chains.
Regarding the news, the founder of Avail Anurag Arjun commented on the success of his team in launching the new cryptocurrency on the market as follows:
“Avail DA and the introduction of the AVAIL token represent the culmination of years of research and development aimed at addressing the most critical challenges that web3 faces today, such as blockchain fragmentation, insufficient data availability, and limited scaling”
The network data DA post airdrop
A total of 600 million AVAIL tokens have been distributed to approximately 350,000 addresses eligible for the crypto airdrop. This represents a share equal to 6% of the total supply of the new coin, which amounts to 10 billion units.
In the early days post-launch, according to what is described on the official staking site, approximately 518 million AVAIL tokens have already been staked
Contributing most to the security of the network was the project team itself, which reassured by staking 500 million coins.
In total there are 50 active pools at the moment to lock your resources, with a minimum entry threshold of 100 AVAIL. To create your own pool, you need at least 10,000 AVAIL.
After staking, you need to indicate whether you want to reinvest the rewards or authorize the withdrawal. All new stakes will be visible in the next epoch of the mainnet, therefore after 1 or 2 hours.
If you do not want to join an existing pool or do not want to create your own, you can still participate in staking as nominators (minimum 1000 AVAIL).
In total, after the launch of the airdrop we find 1363 nominators who have delegated their stakes to up to 16 different validators according to the logic of “Nominated Proof-of-Stake” (NPoS).
As for the validators front, we currently find 101 entities that verify the blocks for the Relay Chain of Avail, playing a key role in the modular blockchain.
Of these, only 51 are active, but the team aims to potentially expand to up to 10,000 different validators.
At the moment Avail DA supports a variety of blockchain architectures, including Validiums, Optimiums, Sovereign Rollups, and Bitcoin Layer 2s.
The team claims to have obtained over 70 partnerships including application-specific blockchains, DeFi and gaming chains web3, as well as substantial funding.
Joey Krug, partner del fondo fondatori, ha commentato con queste parole i numeri registrati post distribuzione dell’airdrop:
“As crypto becomes increasingly modular and interoperable, Avail is building critical infrastructure to accelerate this innovation. Their architecture, which leverages KZG proofs and data availability sampling (DAS), achieves impressive speed and security and is completely chain-agnostic.”
Analysis and forecasts of the crypto AVAIL
Four days after the inauguration on the market, the crypto AVAIL seems to resist the classic selling pressure typical of airdrop launches.
The currency is currently trading at a price of 0.187 dollars at the time of writing the article, with a capitalization of 312 million dollars.
In the first 30 hours of trading, the cryptocurrency resource grew by about 50% before slightly retracing to its current values.
Very interesting to note that AVAIL has not excessively felt the weight of the negative price action of BTC and ETH in recent days.
While emphasizing a price structure more inclined towards distribution rather than accumulation, we believe that AVAIL still has room to grow in this bull market.
The more the platform grows as an infrastructure of data availability, the more AVAIL will find new demand in the market, supporting its price at a speculative level.
Furthermore, being quite correlated to the Ethereum ecosystem, it should obtain good returns from now on in case the ETF ETH should register positive inflows.
Investor attention for this currency is currently very high.
According to the data from Coingecko, AVAIL ranked as the 3rd most trending crypto of the last week, behind only TURBO and TON.
In a positive context for the entire cryptocurrency market, from now on we expect an initial phase of decline for AVAIL, followed by a moment of enthusiasm.
Indicatively, we can hypothesize that in this cycle it will reach both the threshold of 0.15 dollars and that of 0.5 dollars.
Top 30 Trending Coins on CoinGecko
This week, we see $TURBO (@TurboToadToken) coming in at first place, followed by $TON (@ton_blockchain) and $AVAIL (@AvailProject).
Did your favourite crypto make the list?https://t.co/wR2b6z7a17 pic.twitter.com/h4Ynz1vUOi
— CoinGecko (@coingecko) July 26, 2024
