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Avail

39 pieces · May 2023 to Jun 2025 · 6 flagship

Sectors

L1/L236 Ethereum8 DeFi7 ZK4 Market structure3 Tooling2

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Coverage per year

142023

232024

22025

No calls on Avail since 2025 · show price and coverage

Price and coverage

Avail $AVAIL

Calls: None yet
Since first piece: −92%
vs BTC: −91%
Now: $0.00247

bullish thesis bearish thesis coverage, no call map, list or mentionShow all 2 piecesCalls onlyWeekly closes in USD, log scale, as of 23 Oct 2026. Call figures turn cyan when the price moved the way the call pointed. Each marker links to its piece.

Start here · the strongest pieces on Avail

Map15 Mar 2024Modular ecosystem map: execution, DA, sequencing, proving, interop and RaaSPrimer on monolithic versus modular design followed by a landscape of projects per layer: rollups, settlement, DA, sequencing, proving, interoperability, rollup SDKs, RaaS, orderflow abstraction and RPC.Explainer29 May 2023EigenDA vs Celestia and Avail: how restaked DA differs from DA L1sCompares EigenDA, which has no consensus or P2P network and uses restaked ETH, KZG commitments and Proof of Custody, with Celestia and Avail, which are DA L1s using Tendermint consensus and data availability sampling.Breakdown06 May 2024Vistara: decentralized hypervisor and hardware layer for DePIN and AIExplains Vistara's pivot from RaaS to a decentralized hypervisor network offering programmable CPU, GPU, RAM and storage, with components Hypercore, Unikernel, MicroVM, Spacecores, Hardware as Code and Vimana. Discloses being an angel investor in the pre-seed.

Timeline · every piece, newest first

2025 2

04 Jun 2025Why Caldera matters: app-specific rollups over general-purpose chainsArgues most apps will not stay sustainable on general-purpose chains and that HyperCore succeeds because it is application-specific. Caldera makes running an L2 appchain a few clicks, giving control of stack, UX, fee revenue and blockspace while inheriting Ethereum security.ThesisL1/L2Hyperliquid

06 May 2025Caldera RaaS explained: stack-agnostic rollups, DA options and MetalayerExplains Caldera as a stack-agnostic RaaS supporting OP Stack, Arbitrum Nitro and ZK Stack, with a choice of settlement and DA layers, integrated tooling and the Hyperlane-powered Metalayer making its chains composable.ExplainerL1/L2

2024 23

17 Oct 2024Avail ecosystem: DA, Nexus and Fusion with Symbiotic restakingDescribes Avail as an infrastructure trinity of DA, Nexus (proof aggregation) and Fusion (shared security). The Symbiotic integration lets BTC, ETH and USDC be restaked to secure Avail.BreakdownL1/L2

13 Sep 2024DA scaling and L1 blockspace value: response to Ryan WatkinsResponds to three points on L1 blockspace: DA supply can be scaled as demand grows, network effects in DA are softer than in shared-state blockspace, and value capture will shift to apps via gas redistribution and MEV sharing.ThesisL1/L2Market structure

13 Sep 2024Is data availability a commodity and do DA layers have network effectsArgues DA is not a pure commodity because integrators differ on DAS and crypto-economic security needs. Network effects exist as soft mindshare and, with coordination layers, harder interconnection effects.ThesisL1/L2Market structure

11 Aug 2024AVAIL undervalued versus TIA: DA design, valuation and unlock timingArgues AVAIL at $1.4B FDV is undervalued mid-term versus TIA at roughly 5x its valuation. Cites Avail's ZK-validity design, the Nexus and Fusion roadmap, and TIA's Nov 2 cliff versus a year without AVAIL investor unlocks.ThesisL1/L2

24 Jul 2024Post-airdrop AVAIL strategy: bridge, liquid stake on deq.fi, hold stAVAILHis plan: bridge AVAIL to Ethereum, stake on deq.fi for stAVAIL and hold it in an EVM wallet. Cites retained upside, staking rewards, deq.fi points, ecosystem airdrop eligibility and liquidity as the benefits. Includes a referral link.Market takeDeFiL1/L2

23 Jul 2024AVAIL launch day: stake the airdrop and valuation view at $0.15Recommends staking at least part of the AVAIL airdrop for security rewards and exposure to rollup ecosystem airdrops, or liquid staking via deq.fi. Sees AVAIL at $0.15 as undervalued versus peers.Market takeL1/L2DeFi

23 Jul 2024AVAIL launch facts: supply, airdrop and pre-market FDVLaunch-day summary: Avail raised $75M, traded at $2.5B pre-market FDV on Aevo, has 10B max supply with 1.67B initially circulating and a 600M token airdrop. Describes Avail as DA plus proof aggregation plus shared security.BreakdownL1/L2

19 Jul 2024AVAIL launch valuation scenarios: $3B-$5B FDV and airdrop dynamicsExpects AVAIL to land at $3B-$5B FDV ($0.3-$0.5 on 10B supply), using TIA at over $6B FDV as the peer. 354,605 wallets share 600M AVAIL; sees a possible dip to $2B-$3B FDV before a run if the staking-airdrop narrative plays out.Market takeL1/L2DeFi

05 Jul 2024Synchronous atomic composability: Radius shared sequencer with Avail NexusExplains how Radius's shared sequencer orders cross-rollup bundles for atomic execution while Avail Nexus adds cryptographic guarantees through proof aggregation. A demo moved 50 wUSDC between two Polygon CDK chains in one bundle.ExplainerL1/L2ZK

02 Jul 2024Particle Network deep dive: universal accounts, liquidity and gasThread on account-level chain abstraction: Particle's L1 provides Universal Accounts, Liquidity and Gas across chains. Testnet phase 1 hit 600K+ accounts and 13M+ txs in under a week, with 56 chains integrated and $25M raised.BreakdownL1/L2DeFi

05 Jun 2024Fluentbase and rWasm: Ankr RaaS as a path to onboard the next million devsExplains Fluent's blended execution and Fluentbase, an SDK and proving system built on rWasm, a ZK-optimized reduced WebAssembly VM. Argues Ankr RaaS plus Wasm lets devs launch app-specific rollups in Rust, Solidity or Vyper, with other Wasm languages to follow.ExplainerL1/L2Tooling

06 May 2024Vistara: decentralized hypervisor and hardware layer for DePIN and AIExplains Vistara's pivot from RaaS to a decentralized hypervisor network offering programmable CPU, GPU, RAM and storage, with components Hypercore, Unikernel, MicroVM, Spacecores, Hardware as Code and Vimana. Discloses being an angel investor in the pre-seed.BreakdownDePINAI

22 Apr 2024BTC as idle security capital: Babylon and Avail FusionFrames BTC as roughly $1.4T of idle capital that Babylon can put to work securing PoS chains, and ties it to Avail Fusion adding BTC security to a rollup-centric DA base layer. Flags Ankr as a likely BTC liquid staking player.ExplainerBitcoinL1/L2

21 Apr 2024Avail beyond DA: Nexus, Fusion and a $5B-$10B FDV callWalks through Avail's three stages: validity-proof DA with light-client sampling, Nexus proof aggregation and shared sequencing, and Fusion multi-asset security. Expects AVAIL to trade at $5B-$10B FDV quickly, using TIA as the comparable.ThesisL1/L2

09 Apr 2024Avail light client campaign as airdrop-driven DAS bootstrappingArgues Avail's 100k+ light client campaign was smart because the block size that can be securely sampled grows with the number of light clients, so airdrop farmers bootstrap the DAS infrastructure. Expects wallets to embed light clients later.Market takeL1/L2

08 Apr 202415 tokens likely to launch at $1B+ FDV within three monthsFDV calls for 15 expected launches, such as EigenLayer at $30-50B, zkSync at $10-20B, LayerZero at $10-20B and Kelp at $1-3B, with a one-paragraph thesis each. Explicitly framed as quick thoughts rather than deep research.Market takeL1/L2DeFi

31 Mar 2024Alt-VMs will overtake EVM execution: parallel VMs on modular L2sArgues EVM dominance (96% of DeFi TVL per DefiLlama, 20+ chains) is limited by sequential execution, and modular DA makes parallel alt-VMs such as SVM, MoveVM and WASM viable as Ethereum-settled L2s. Predicts 2024 as the year of alt-VMs.ThesisL1/L2

26 Mar 2024Ankr and Neura: AI chain with GPU network, IMOs and BTC restaking securityBreaks down Neura, a Cosmos SDK EVM chain acting as a coordination layer for Ankr's distributed GPU network, with Initial Model Offerings for fractional AI model ownership and security from Babylon-staked BTC. Argues ANKR at about $500M FDV is undervalued versus billion-dollar peers.BreakdownAIDePIN

22 Mar 2024Sei Parallel Stack: pivot from alt-L1 to shared sequencer for parallel rollupsArgues Sei has pivoted from the alt-L1 narrative toward acting as a shared sequencer for parallel EVM rollups that settle on Ethereum and use modular DA like Celestia or Avail, under the name Parallel Stack.Market takeL1/L2

18 Mar 2024Shared sequencers: why rollups need them and who leads the fieldExplains the sequencer role and the risks of today's centralized sequencers (single point of failure, censorship, liveness, MEV). Argues shared sequencers deliver decentralization-as-a-service, pooled security and composability for the long tail of app-specific rollups.ExplainerL1/L2

17 Mar 2024EigenLayer explained: restaking, AVSes and the trust it generalizesExplains EigenLayer as contracts letting stakers opt into extra slashing to secure AVS middleware, reusing the Ethereum validator set. Notes AVSes still must incentivize validators to opt in, as EigenDA must.ExplainerEthereumDeFi

15 Mar 2024Modular ecosystem map: execution, DA, sequencing, proving, interop and RaaSPrimer on monolithic versus modular design followed by a landscape of projects per layer: rollups, settlement, DA, sequencing, proving, interoperability, rollup SDKs, RaaS, orderflow abstraction and RPC.MapL1/L2Ethereum

04 Jan 2024Modular thesis reading list: Celestia, EigenLayer and rollups 2022 to 2024Chronological index of the author's modular research since June 2022: Celestia and data availability sampling, EigenDA versus Celestia, sovereign rollups, RaaS, shared sequencing, plus two Castle Capital reports on modularity.OtherL1/L2Ethereum

2023 14

21 Dec 2023Modular thesis and DA layers: Celestia vs Avail with DAS and ZK proofsRecaps the modular thesis and argues DA layers must cut fees for rollups to compete with Solana. Compares Celestia's fraud proof DAS with Avail's KZG validity proofs and expects Celestia to adopt ZK.ThesisL1/L2Ethereum

02 Oct 2023Vistara: one-click app-specific and sovereign rollups with modular componentsBreaks down Vistara's rollup-as-a-service where builders pick execution, sequencer, DA, interop and proving from a UI. Initially sovereign optimistic rollups on Celestia with Dymension settlement, with ZK via SHARP or Bonsai planned.BreakdownL1/L2

13 Sep 2023How data availability sampling works: erasure coding and light node samplingWalks through DAS: light nodes sample random chunks of erasure coded blocks, with Celestia's 2D Reed-Solomon 1/4 rate expanding 1MB to 4MB. Contrasts Celestia fraud proofs with Avail validity proofs.ExplainerL1/L2Ethereum

12 Sep 2023Data availability sampling as the fix for the rollup DA bottleneckArgues data availability is the main rollup scaling bottleneck and that DAS light nodes can scale block space without raising validator requirements. Previews the contents of his DA research report.ExplainerEthereumL1/L2

18 Aug 2023Is Metis still an L2 play for the next cycle?Argues Metis has strong tech innovation and low valuation, but off-chain data via Memolabs, an unfinished fraud-proof system, no escape hatch and a stagnating DeFi ecosystem leave it behind other L2s. Concludes it is not currently a top L2 pick.ThesisL1/L2

11 Aug 2023Vistara: one-click modular rollup deployment frameworkBreakdown of Vistara, a framework to deploy customizable rollups in under a minute by picking execution, sequencer, DA, interop and prover from a menu. Covers supported components, blueprints and the Vimana node architecture.BreakdownL1/L2Tooling

13 Jul 20232023 crypto narratives: LSDfi, zkEVMs, DA, app-specific rollups, privacy, RWALists the narratives he is positioned in: LSDfi, zkEVMs, recursive L3 scaling, hyperscalable DA, app-specific rollups, privacy, interoperability, parallel VMs, WASM/RISC-V VMs, RWA (pending regulatory clarity) and perp DEXes.ThesisL1/L2PrivacyDeFi

11 Jul 2023App-specific L3s on zkEVM L2s and why zk is the endgameThesis that high throughput apps need app-specific L3s with parallelized VMs like Sealevel or Move, verifying plonky3 proofs on a cheap zkEVM L2. Argues optimistic rollups' edge fades as DA cost dominates proving cost and proof systems mature.ThesisL1/L2ZK

03 Jul 2023Trust-minimized bridging: proof-based vs committee-based and DA layersCompares proof-based and committee-based bridges on trust minimization and generalizability. Argues proof-based bridges still trust connected chain consensus and that shared DA layers with light clients could enable true trust minimization.ExplainerL1/L2Market structure

26 Jun 2023zkSync ZK Stack explained: hyperchains, L3 recursion and hyperbridgesExplains the ZK Stack framework for building ZK-powered L2 and L3 hyperchains. Covers recursive proofs, cheap L2-L3 interoperability, choice of DA layer and when a dedicated hyperchain makes sense versus deploying on zkSync Era.ExplainerZKL1/L2

01 Jun 2023Why PoS DA layers beat data availability committeesArgues PoS-based DA layers like Celestia and Avail beat DACs on trustlessness, since nodes stake and can be slashed for not serving data, and on fault tolerance, since larger participant sets make data withholding attacks harder.ExplainerL1/L2

29 May 2023EigenDA vs Celestia and Avail: how restaked DA differs from DA L1sCompares EigenDA, which has no consensus or P2P network and uses restaked ETH, KZG commitments and Proof of Custody, with Celestia and Avail, which are DA L1s using Tendermint consensus and data availability sampling.ExplainerL1/L2Ethereum

26 May 2023Data availability sampling and light clients: erasure coding explainedDetailed explainer of how DA layers break the link between throughput and verification cost: full versus light nodes, fraud proofs, erasure coding and the data availability sampling process, with Celestia's 2D Reed-Solomon scheme as the example.ExplainerL1/L2Ethereum

24 May 2023Data availability sampling: how light nodes get full node securityExplains how DAS lets light nodes verify invalid blocks by sampling erasure-coded chunks, giving near full-node security if one honest full node produces KZG commitments (Avail) or fraud proofs (Celestia). More light nodes allow larger blocks without higher hardware needs.ExplainerL1/L2ZK

Often covered with

Celestia145 EigenDA60 EigenLayer110 Vistara8 LayerZero35 Ankr16 Espresso19 Eclipse28

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