Dear Community,
I’m excited to share that Ava Protocol recently launched its EigenLayer AVS on the Ethereum mainnet! This marks an important milestone for our project and a pivotal advancement for web3 automation.
Our team is dedicated to making web3 automation accessible to everyone on Ethereum and beyond. Until today, automating transactions has been like solving a puzzle with missing pieces. With Ava Protocol’s autonomous super-transactions, developers and users can now create seamless, private, composable automation for any smart contract function without needing to write code. For more about the common challenges of web3 wallet automation and the benefits of super-transactions, see: “Empowering Web3 Automation with Ava Protocol.”
Read on to learn about our reasons for choosing EigenLayer, our product roadmap, the upcoming AP token generation event (TGE), and the future of Ava Protocol, including exciting partnerships and our vision for a more connected decentralized world.
Why We Chose EigenLayer
EigenLayer’s whitepaper identifies event-driven activation as a key use case for Actively Validated Services, making it a great fit for Ava Protocol. It enables us to broadly deliver reliable intent-based automation capabilities to developers and users, providing:
- Strong inclusion guarantees: Cryptoeconomic security from EigenLayer’s restaked ETH ensures that all critical events are securely included and processed, ensuring accuracy and reliability.
- Off-chain computation and storage: The off-chain resources of EigenLayer operators allow us to tailor data structures for efficient, event-driven activation, providing scalability for complex computations and data management.
- AVS interoperability: With connectivity facilitated by different AVSs in the EigenLayer ecosystem, such as oracles and bridges, Ava Protocol can validate Layer-2s and EVM-compatible chains, offering automation services to a range of dapps and services.
EigenLayer also jumpstarts the launch of our super-transactions service on Ethereum, rapidly providing a secure network and proof-of-stake consensus method to guarantee the accuracy of automations. Our team quickly onboarded 10 EigenLayer operators within a week of the mainnet launch, and aims to onboard an initial slate of 24 operators within two weeks. Remarkably, within two weeks of launching, Ava Protocol’s operator TVL has spiked to over $1.7B worth of ETH and counting!
For more about these benefits and use cases, visit our Ava Protocol Solutions on Ethereum webpage. For a detailed EigenLayer AVS introduction, see: “A Guide to EigenLayer AVS: Actively Validated Services on Ethereum.”
Product Roadmap
Ava Protocol’s ongoing development will expand the automation capabilities of web3 dapps and services, streamlining complex smart contract workflows with one-click simplicity. We envision making user interactions with blockchain technology as intuitive and accessible as using everyday apps, and we’re committed to continuously improving.
Demo App
The team is now working on building a demo app to showcase Ava Protocol’s wallet automation capabilities. This app will integrate features from our testnet app, Automation Hub, with new functionalities like the automatic rebalancing of restake targets among AVSs. We’re also simplifying the interface to meet ERC-4337 standards and support corresponding smart wallets. We’ll soon launch a Developer Enablement page to provide resources for devs to build products utilizing Ava Protocol’s smart contract automation, bolstered by our open grant program.
TGE
Our upcoming AP token will be a standard ERC20 token, providing familiarity to Ethereum users. The ERC20 smart contracts are being developed, and will be deployed to Holesky testnet soon. The tokenomics will remain similar to our original plan, with slight modifications due to EigenLayer’s dual staking model. I will soon provide more details about the token generation event and address any questions.
Regarding our Turing Network testnet users and token holders, we’ve evaluated multiple solutions to ensure our early supporters’ benefits and are close to finalizing the plan. We’re committed to protecting our community’s interests and are preparing a detailed roadmap for TUR. Thank you to our community members for your continued support over the past two years!
Partnerships
We’ve received a steady stream of partnership inquiries about building web3 automation on Ethereum, and are excited to partner with WalletConnect to integrate the newly launched Notifications feature of their AppKit SDK. This will notify users when their automations are scheduled and triggered, enhancing the user experience with real-time updates.
Bagpipes is also developing a no-code, drag-and-drop tool for building wallet automation using Ava Protocol, making it easy for users to create automated workflows without programming skills. Additionally, C3 Labs is pioneering a standalone interface for creating limit orders on any EVM-based DEX.
These partnerships and integrations underscore Ava Protocol’s commitment to fostering a web3 ecosystem that empowers users and developers with intelligent automation.
Going Forward
The launch of our EigenLayer AVS on Ethereum is the start of an exciting new chapter for Ava Protocol. Our mission is to establish Ava Protocol as the leading developer in the web3 automation space, covering Smart Contract Automation, DeFi Automation, NFT Automation, and RWA Automation. Launching an EigenLayer AVS on Ethereum is the first step in this process.
Our journey is just beginning, and we invite you to join us as we push the boundaries of what’s possible in web3.
**
