Polygon spins off project Avail and co-founder departs – Cryptonium


All about the world of cryptocurrencies

Polygon spins off project Avail and co-founder departs

Today, we’re excited to announce that Anurag Arjun, a co-founder of Polygon Labs and the creator of Avail — a modular blockchain project — has departed from Polygon as the company spins off its Avail project.

Anurag is now the sole steward of Avail and will continue leading it in an independent entity funded by himself. As part of this spin-off process, Anurag’s corporate entity has acquired full ownership over Avail. The structure is expected to evolve into a decentralized organization at some point in time but no specific timeline for that evolution has been determined yet; with immediate focus being on ensuring smooth transition away from Polygon ownership.

Avail was first introduced publicly by Polygon back in mid 2023 after its initiation late 2020 itself – making it one amongst many other projects initiated under polygon labs umbrella during this period . It allows developers to build customizable applications on top if its highly scalable blockchain network which can be used for various use cases ranging from payments processing , supply chain management , asset tracking etc .

We are thrilled about what lies ahead for both –Polygons as well as Aval–and wish them all success!

Cryptonium Editors