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Ava Protocol acquires Openstory amid team expansion

Ava Protocol acquires Openstory amid team expansion

Ava Protocol, a Web3 automation platform, has acquired Openstory, a leading data streaming platform specializing in on-chain data and analytics, according to the latest updates shared with Finbold on June 26. 

The integration of Openstory will significantly boost Ava Protocol’s ability to deliver precise insights into Ethereum Virtual Machine (EVM) chain activities via real-time data streaming and analytic capabilities. 

Coupled with several key appointments, the acquisition is another major milestone in Ava Protocol’s expansion.

Enhancing blockchain application performance 

According to Ava Protocol, the acquisition will improve decision-making, scalability, and performance for blockchain apps using its autonomous transaction infrastructure.

Chris Li, CEO of Ava Protocol expressed the team’s confidence in being able to meet the industry’s growing demand for private transactions, stating: 

“Integrating Openstory’s exceptional real-time data streaming technology marks a significant milestone for Ava Protocol as we set about transforming 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 Systems Architect, likewise expressed excitement for the upcoming collaborations, stating:

“To say that I’m delighted to join Ava Protocol and excited to empower 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 imprint 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 comes with over a decade of experience at Google and Postman, will focus on awareness and adoption of Ava Protocol. 

Staton, drawing from his editorial background at The New Yorker and Vice Media and his previous role at Dfinity, will focus on educating the industry about Ava Protocol’s mission.

With an ecosystem of over 30 dApp partners and a testnet processing 1,000 automated transactions each day across 10,000+ unique wallets, Ava Protocol is a blockchain automation leader. 

Recently, it 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-centric Eigenlayer AVS to power private autonomous transactions on Ethereum (ETH) and beyond.

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