Lens Chain announced that it has passed the vote to join the Elastic Network on ZKSync, and the Mainnet is about to go live. This high-performance chain built using ZKsync and Avail, created in collaboration by the Lens Labs team and Matter Labs, will migrate user data to Lens Chain, requiring an application to include the chain in the Elastic Network.

Golden Finance reported that in 2024, modular blockchain Sophon raised over 60 million US dollars through Node sales. Since its launch two months ago, Sophon has processed over 50 million transactions. The Sophon team has adjusted and expanded the Avail Light Client (LC) to play a key role in its Guardian program, rewarding Node operators for independently inspecting and verifying the Sophon network.

Avail launches Data Availability Mainnet Avail DA and AVAIL tokens, used for paying data availability fees and ensuring network security. The total supply of AVAIL is 10 billion, with 60 million already Airdropped. Plans to launch the interoperability layer Nexus and the secure Network Layer Fusion.

Blockchain project Avail announced the establishment of a foundation in Switzerland and the transfer of related IP to the foundation. The Avail Foundation will foster and develop an ecosystem around the Avail protocol through means such as funding, development, research, education, adoption, and community engagement, to become a leader in scalability and interoperability.

Blockchain scalability service provider Avail has launched the Avail Foundation to support the development of trust-minimized systems. The foundation will foster an ecosystem based on Avail protocol and collaborate with other stakeholders to create a globally scalable infrastructure. The foundation will be headquartered in Switzerland with high transparency and a commitment to international standards. Its plans include activities such as grants, development, research, education, adoption, and community participation.

According to the news released by ArkStream Capital, the institution has invested in five projects in the second quarter of 2024: Compute Labs, DappOS, Avail, Mezo, and Kelp DAO. These projects cover technologies in the fields of artificial intelligence and blockchain, as well as the economic layer of the secondary network and BTC. These technologies will help enhance the decentralization and security of the network, and improve the liquidity and utility of stake assets.

The total financing amount of the encryption market has shown a downward trend, with a decrease of about 53% from March to June 2024. Large-scale financing transactions in June include: Avail $43 million, Nexus Labs $25 million, M^0 $35 million, The Sandbox $20 million strategic round financing, Ora $20 million.