According to Foresight News, modular blockchain project Avail has announced the establishment of a foundation in Switzerland. The foundation will gradually transfer all intellectual property related to the Avail protocol, including Avail DA, Avail Nexus, and Avail Fusion, to the Avail Foundation. The primary focus of the Avail Foundation is to nurture and develop the ecosystem surrounding the Avail protocol. Key initiatives include funding, development, research, education, adoption, and community engagement. The goal is to help Avail become a leader in blockchain scalability and interoperability while ensuring that everyone can benefit from the ecosystem.

The initial board members of the foundation include Avail co-founders Anurag Arjun and Prabal Banerjee, Andreas Traum, a financial services consulting partner at PwC Germany, and Richard Harker, head of client services at Centralis Group.