Polygon’s Avail Blockchain Project Separates, Co-Founder Resigns

03/16/2023 13:45 • NFT Newsflash • 127 views

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.

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

Analysis based on this information:

On March 16th, the announcement of the complete separation of Avail from its parent company, Polygon, sent shockwaves through the blockchain industry. Polygon, founded in 2017, is an Ethereum scaling and infrastructure development platform renowned for its high speed and low-cost transaction system. The enterprise has enjoyed a great deal of success since its founding, with notable partnerships such as with Mark Cuban’s Dallas Mavericks.

In a development that has so far been shrouded in mystery, the co-founder and CEO of Polygon, Anurag Arjun, is said to have resigned from the company and taken over Avail entirely. It is noteworthy that Anurag was involved in the development of Avail, which was launched at the end of 2020 and publicly launched in mid-2021.

This separation is likely to mark a new era for both Avail and Polygon. While there have been no indications of what led to the split, the move is likely to have ramifications for both entities as they chart new courses in the industry. It is clear that Anurag is taking Avail in a new direction, and it will be interesting to see how the company develops under his leadership.

It is worth noting that the spokesperson for Avail stressed that Anurag was involved in the development of the project, and it is now being acquired by a company entity wholly owned by him. The process of separating the blockchain project from Polygon is already ongoing, and it is expected to be completed shortly.

In summary, the separation of Avail from Polygon and the accompanying leadership change are significant developments for both companies. The blockchain industry will be keeping an eye on how these entities evolve and whether this separation results in new success for both companies, or new challenges.

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Polygon’s Avail Blockchain Project Separates, Co-Founder Resigns

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

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