According to the latest update shared with Finbold on June 26, Web3 automation platform Ava Protocol has acquired leading on-chain data and analytics platform Openstory.
The integration of Openstory will significantly enhance Ava Protocol’s ability to provide precise insights into Ethereum Virtual Machine (EVM) chain activity through real-time data streams and analytics.
With several key appointments in addition to the acquisition, this is another important milestone in Ava Protocol’s expansion.
Enhancing blockchain application performance
According to Ava Protocol, the acquisition will improve the decision-making capabilities, scalability, and performance of blockchain applications using its proprietary trading infrastructure.
Chris Li, CEO of Ava Protocol, expressed confidence in meeting the industry’s growing demand for private transactions, stating, “The integration of Openstory’s exceptional real-time data stream technology marks a significant milestone for Ava Protocol as we embark on our transformation into blockchain automation. With this acquisition and the expansion of our already outstanding team, we will be better positioned to meet the growing demand for private, autonomous, and composable trading solutions in the industry.”
Vinh Nguyen, the founder of Openstory who has joined the team as a system architect, also expressed excitement about the upcoming collaboration, saying, “I am thrilled to join Ava Protocol and empower the future of blockchain automation, to put it lightly. Ava Protocol’s vision for private and composable autonomous trading aligns with my own passion for leaving a lasting mark on the Web3 world.”
More talent joins Ava Protocol
Ava Protocol also welcomed Sam Shev as Chief Marketing Officer and Scott Staton as Head of Research and Content.
Shev brings over a decade of experience at Google and Postman and will focus on promoting and adopting Ava Protocol.
Drawing from his editorial background at The New Yorker and Vice Media, as well as his previous position at Dfinity, Staton will focus on educating the industry about Ava Protocol’s mission.
Ava Protocol has an ecosystem of over 30 dApp partners and a testnet that processes over 10,000 unique wallet transactions daily with 1,000 automated trades, establishing itself as a leader in blockchain automation.
Recently, it completed a $10 million seed funding round, with support from top investors including Electric Capital, Foundation Capital, Greylock, and GSR.
This funding will support the development of intent-based feature layer AVS, powering private autonomous trading on Ethereum (ETH) and other platforms.
