According to the latest update shared with Finbold on June 26, the Web3 automation platform Ava Protocol has acquired the leading data stream platform Openstory, which specializes in on-chain data and analytics.
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 capabilities.
Combined with several key appointments, this acquisition marks another important milestone in Ava Protocol’s expansion.
Enhancing blockchain application performance
According to Ava Protocol, this acquisition will enhance the decision-making capabilities, scalability, and performance of blockchain applications using its proprietary transaction 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 transaction solutions in the industry.”
Vinh Nguyen, the founder of Openstory who has joined the team as a systems architect, also expressed excitement about the upcoming collaboration, saying: “To say that I am excited to join Ava Protocol and empower the future of blockchain automation is an understatement. Ava Protocol’s vision for private and composable autonomous transactions aligns with my passion for leaving a lasting imprint in the Web3 world.”
Additional 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 from 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 boasts an ecosystem of over 30 dApp partners and a testnet that processes over 10,000 unique wallet transactions per day, with 1,000 automatic trades. The platform is a leader in blockchain automation.
Recently, it completed a $10 million seed funding round, supported by top investors including Electric Capital, Foundation Capital, Greylock, and GSR.
This funding will support the development of the intent-based feature layer AVS, powering private autonomous transactions on Ethereum (ETH) and other platforms.