The modular blockchain project Avail leaves Polygon and will be taken over by Cofounder Anurag Arjun

On March 16th, it was announced that the modular blockchain project Avail would be completely separated from Polygon. In addition, Polygon co founder Anurag Arjun would resign and take over Avail. Polygon launched the Avail project at the end of 2020 and publicly launched it in mid-2021. An Avail spokesperson said that Arjun was involved in the development of the project, and as part of the spinoff, it is now being acquired by a company entity wholly owned by Arjun.

Interpretation of this information:

The blockchain project Avail is being completely separated from Polygon as it heads towards a spinoff. Co-founder Anurag Arjun will be resigning from Polygon in order to head Avail. The announcement was made on March 16th, and it signals a significant development in the blockchain industry.

Polygon launched Avail towards the end of 2020, and it was publicly launched in mid-2021. The project aims to deliver a modular infrastructure for blockchains, with Arjun being a key player in its development. However, Polygon and Avail are now heading in different directions. The reason for the separation has not been disclosed, but it is said to be “amicable”.

As part of the spinoff, Avail will be acquired by a company entity that is wholly owned by Arjun. There is no information on what the new entity will be called, but it is speculated that it will be named after Avail. The new entity will continue to develop Avail’s modular blockchain and infrastructure.

This move represents a significant shift in the blockchain industry. It demonstrates the value that blockchain technology holds and the potential for businesses to create value through blockchain-based infrastructure. It also highlights the importance of strategic partnerships and the ability to make decisions that will allow each company to pursue their vision and goals.