According to official sources, Avail, a blockchain scaling service provider, has announced the launch of the Avail Foundation. By supporting the development of trust-minimized systems, the foundation aims to enable global users to interact and transact seamlessly and securely.
The initial focus of the Foundation was to cultivate and develop an ecosystem around the Avail protocol. By collaborating with various stakeholders and partners in the industry, the Foundation aims to create a globally scalable infrastructure for the flourishing of trust-minimized systems.
The Avail Foundation will be established in Switzerland, following the precedent of other blockchain foundations. By establishing a foundation in Switzerland, it can ensure that it operates within a sound legal system, holds legal responsibility for its established mission, maintains its non-profit status, transparency, governance, and compliance with international standards.
Over time, Avail will transfer all IP related to the Avail protocol (including Avail DA, Avail Nexus, Avail Fusion, etc.) to the foundation. The main plans of the Avail Foundation include:
- Grants, development and research;
- Education, adoption, and community engagement.
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