Arcana

Arcana Network operates multi-chain blockchain infrastructure now presented under the Avail brand at arcana.network. Its product set spans Nexus, an intent- and solver-based multi-chain protocol for building applications that reach users and liquidity beyond a single chain; Deposits, which lets users combine balances across different tokens and chains to fund accounts or complete a payment in one flow; FastBridge, which combines balances from multiple chains in a single transaction rather than the three to four bridge transactions the company says are otherwise required; a data availability layer positioned for high-throughput applications and cost efficiency; and trading infrastructure for DEXs, aggregators and wallets that executes orders on central limit order books and proprietary AMMs while atomically settling transactions onchain. The $AVAIL token is described as powering these applications and connecting users and liquidity across multiple blockchains.

Earlier product generations, documented on the company's GitHub organization and a 2023 investment listing, focused on Web3 user experience: Arcana Auth, an SDK enabling email and social login and in-app wallet access without browser extensions or seed-phrase management; Arcana Gasless, an ERC-4337 account abstraction SDK letting developers sponsor gas fees on behalf of users; a chain abstraction SDK and standalone Arcana Wallet distributed through the Chrome Web Store; and SendIt, a consumer transfer application. The company also published smart contract audit reports for Arcana Auth. At the time of the 2023 listing the company described itself as building a decentralized proof-of-stake app-chain with a suite of developer and user products, framed around developer difficulty in finding scalable, interoperable and easily integrated infrastructure and around user friction from having to assemble multiple providers to use a single app.

Business model

The company supplies infrastructure and SDKs to application developers; its earlier authentication product was offered on a pay-as-you-go basis, and its network products are tied to the $AVAIL token, which is staked by validators and used to connect users and liquidity across chains.

The earlier Arcana Auth product was sold on a pay-as-you-go model; the 2023 offering materials described the company as having generated some revenue without a significant operating history.

Traction

The website reports 4.5 billion $AVAIL staked, more than ten chains connected and 80 active validators. Earlier disclosed traction from a 2023 investor listing, based on internal issuer data, included 80-plus project integrations following the February 2023 launch of Arcana Auth and more than 400,000 users and over 3 million transactions for SendIt after its August 2023 launch.