Blockchain data-availability protocol Avail announces 600M token airdrop

Using the Polygon SDK, Avail – a Web3 infrastructure platform – is distributing 600 million units of its native token, named AVAIL, as an airdrop to its users.

In simpler terms, the Unification Drop acts as a bonding element among various blockchain groups. It acknowledges and compensates developers, governance participants, educators, rollup users, stakers, and other essential contributors from diverse blockchain ecosystems. (Avail made this statement on April 18.)

Established in the year 2020, Avail is composed of three distinct parts: Nexus, Fusion, and Avail DA. Avail DA enhances foundational transactions by increasing the capacity of rollups using techniques like KZG commitments and data availability sampling.

Having access to data allows nodes to authenticate grouped transactions without requiring a full block’s data for download. On the other hand, KZG commitments, frequently used in zero-knowledge procedures, make it possible to confirm hidden data authenticity without disclosing confidential information.

Simultaneously, Avail Nexus serves as a connection point for users to conduct transactions or exchange assets across various blockchains. Furthermore, with Avail Fusion, users can stake their assets, including ETH and BTC, in a liquid form.

The Avail token, as explained by its creators, serves multiple purposes within the Avail Decentralized Autonomous system. These include acquiring Avail DA services, securing the network through staking, and participating in decision-making processes. Tokens are distributed based on a user’s engagement with the ecosystem, measured in terms of time, depth, and impact. Upon mainnet launch, approximately 354,605 wallet addresses will become recipients of the AVAIL tokens.

Approximately 90 million tokens from the total supply of 600 million will go to developers within the blockchain ecosystem. An additional 49.5 million tokens are set aside for testnet users. Rollup users on various platforms like Arbitrum One receive approximately 380 million tokens, while Polygon stakers will receive around 70 million. Lastly, community contributors receive a share of about 10.5 million tokens.

The airdrop is open to users beyond those in the Avail and Polygon networks. According to Avail, bringing Web3 together means merging at its core. As such, this airdrop encompasses Bitcoin, Ethereum, Solana, Cosmos, Avalanche, Near, and other significant blockchain contributors.

In simple terms, there was much excitement among the Polygon community about the upcoming airdrop, with some expressing great enthusiasm for it on social media. For instance, Polygon co-founder Sandeep Nailwal commented, “Wow, looks like an extensive airdrop is coming up for the @0xPolygon community!”

On March 16, 2023, Avail was established as an independent entity, having been separated from Polygon Labs. This step was taken because Polygon wanted to focus more on Ethereum-related data availability projects. In a statement, Polygon Labs explained that, “As a standalone entity, Avail will be in a prime position to drive the adoption of modular blockchain structures and help any Web3 project achieve greater scalability.”

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2024-04-18 23:52