Ava Protocol, a Web3 automation platform, has acquired Openstory, a leading data streaming platform specialized in on-chain data and analytics, according to the latest updates shared with Finbold on June 26.
The integration of Openstory will significantly increase Ava Protocol’s ability to deliver precise insights into Ethereum Virtual Machine (EVM) on-chain operations through real-time data streaming and analytical capabilities.
Combined with a number of key appointments, the acquisition is another important milestone in Ava Protocol’s expansion.
Improving the performance of blockchain applications
According to Ava Protocol, the acquisition will improve decision-making, scalability and performance for blockchain apps that leverage its autonomous transaction infrastructure.
Chris Li, CEO of Ava Protocol, expressed the team’s confidence in meeting the industry’s growing demand for private transactions, stating:
“The integration of Openstory’s exceptional real-time data streaming technology marks an important milestone for Ava Protocol as we transform blockchain automation. With this acquisition and the expansion of our already brilliant team, we will be better able to meet the industry’s growing demand for private, autonomous and composable transaction solutions.”
Vinh Nguyen, the founder of Openstory who joined the team as a system architect, also expressed his excitement about the upcoming collaborations, saying:
“To say that I am thrilled to be joining Ava Protocol and excited to power the future of blockchain automation would be an understatement. Ava Protocol’s vision for enabling private and composable autonomous transactions aligns with my own passion for leaving a lasting impression on the Web3 world.”
More talent joins Ava Protocol
Ava Protocol has also welcomed Sam Shev as Head of Marketing and Scott Staton as Research and Content Lead.
Shev, who has more than a decade of experience at Google and Postman, will focus on raising awareness and adoption of the Ava Protocol.
Staton, drawing on his editorial background at The New Yorker and Vice Media and his previous role at Dfinity will focus on educating the industry on Ava Protocol’s mission.
With an ecosystem of more than 30 dApp partners and a testnet that processes 1,000 automated transactions every day across more than 10,000 unique wallets, Ava Protocol is a leader in blockchain automation.
It recently completed a $10 million seed funding round backed by top investors including Electric Capital, Foundation Capital, Greylock and GSR.
The funding will support the development of an intent-oriented Eigenlayer AVS to enable private autonomous transactions on Ethereum (ETH) and beyond.
