It’s been a truly transformative summer for Ava Protocol! We rebranded to better align our identity with our expanded vision. We successfully completed our seed financing, raising $10 million to drive Ava Protocol’s growth. We made a strategic acquisition to enhance our technical capabilities. And most recently, we launched our EigenLayer AVS on Ethereum, marking a pivotal step for web3 automation.
With each achievement, we’ve strengthened our position by laying a solid foundation for even more exciting developments ahead. Read on to learn more about these highlights…
EigenLayer AVS Launch on Ethereum
Ava Protocol has successfully launched its Actively Validated Service (AVS) on the Ethereum mainnet via EigenLayer. This launch enables developers and users to create seamless, private, and composable automation for any smart contract function without coding. The AVS quickly amassed backing of over $1.7B worth of ETH, with 16 EigenLayer operators onboarded within a week of launch. This strategic move leverages EigenLayer’s infrastructure to provide strong inclusion guarantees, off-chain computation and storage, and cross-chain interoperability, positioning Ava Protocol as a leader in blockchain automation solutions.
For more details, visit: Ava Protocol Launches an Event-Driven EigenLayer AVS on Ethereum
$10M Seed Funding
Building on our $5.5 million seed round, Ava Protocol has secured an additional $4.5 million in seed+ funding. This capital injection will accelerate the development of our decentralized automation technologies, furthering our mission to enhance blockchain efficiency and functionality. The seed funds will be instrumental in advancing our core offerings and expanding our product suite to meet the growing demands of the web3 industry.
For more details, visit: Web3 Automation: Ava Protocol Raises $10M After Securing $4.5M Seed Funding
Openstory Acquisition
Ava Protocol recently acquired Openstory, bolstering our technical capabilities and market position in web3 automation. This acquisition marks a significant step in our growth strategy, strengthening our ability to provide accurate, timely insights into EVM chain activities. It also expands the Ava Protocol team to help drive product development, with Openstory founder Vinh Nguyen joining as Systems Architect.
For more details, visit: Web3 Automation Leader Ava Protocol Acquires Openstory and Expands Team
Super-Transactions
Ava Protocol introduces super-transactions, a core feature that’s designed to revolutionize web3 automation. Super-transactions offer enhanced privacy, composability, and efficiency, significantly improving the capabilities of dapps and services. They autonomously execute intended actions when predefined conditions are met, empowering developers across any web3 vertical to efficiently build rich, automated capabilities that were previously out of reach.
For more details, visit: Super-Transactions: Empowering Web3 Automation with Ava Protocol
Strategic Vision
Speaking with Bitcoin News, our founder and CEO Chris Li outlined his vision for blockchain development. He anticipates a shift towards vertical scaling, focusing on enhancing transaction capabilities beyond speed and cost. To support this, Ava Protocol is leveraging EigenLayer’s trusted operators to achieve scalability through computational and storage resources. Our technology also simplifies UX through smart wallet solutions and user-friendly automation tools to support complex decentralized workflows and drive adoption.
For more details, visit: Former Microsoft Engineer Predicts a Gradual Shift in Blockchain Development Focus Toward Vertical Scaling
Rebranding & Expansion
As you’ve probably noticed by now, we officially rebranded from OAK Network to Ava Protocol, coinciding with our expansion from Polkadot to Ethereum. This strategic move allows us to grow our reach and enhance our ability to deliver advanced automation solutions more broadly across the web3 ecosystem. The shift to Ethereum positions Ava Protocol at the forefront of web3 automation.
For more details, visit: OAK Network Is Now Ava Protocol: From Polkadot to Ethereum and Beyond
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Our team’s hard work is pushing Ava Protocol forward at an incredible pace. As we build on these achievements, we’re gearing up for even more exciting developments. Stay tuned for announcements about technical updates, our token generation event, and expansion plans.
This community’s support fuels our mission to supercharge web3 on Ethereum and beyond. We can’t wait to show you what’s next.
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