Polygon (MATIC) has announced the launch of its latest development, in the form of an all-new project called Avail.
Polygon announced its latest development which will see the launch of an all-new blockchain project called Avail. The project has been dubbed as a “general-purpose, scalable data availability-focused blockchain targeted for standalone chains, sidechains, and off-chain scaling solutions.”
According to the press release, the project’s key objectives will be to offer standalone chains or sidechains with arbitrary execution environments to bootstrap validator security without needing to create or manage their own validator set by guaranteeing transaction data availability.
Avail will offer increased scalability throughput to layer-2 solutions by using Avail as an off-chain data availability layer.
Polygon have been working on the project since late 2020, with Avail currently in the devnet stage.
Polygon announce Pickle Finance launch
Following the news of its latest blockchain project currently in the works, Polygon also announced that yield aggregator Pickle Finance is launching on Polygon. Pickle Finance has previously been operating primarily on the Ethereum blockchain, but now expands to the MATIC blockchain too.
Polygon will be providing rewards of $12,500 in MATIC for the next eight weeks totaling $100,000.
Polygon has seen an increase in DeFi activity in 2021, with the project gaining popularity. Billionaire Mark Cuban has previously admitted to being a Polygon user, making use of the blockchain project regularly.
The project has seen rapid growth in 2021, hitting an all-time high of $2.70 in May. While the price has corrected dramatically since, MATIC is still up 5,978% in 2021 alone.