Ava Protocol (formerly known as OAK Network) has shared the details of the strategic acquisition of Openstory, an industry-leading data streaming platform for on-chain research. The platform has also made several high-profile appointments in development and marketing units.
Eigenlayer AVS Ava Protocol completes Openstory's acquisition
Ava Protocol, a Web3 platform that enables private autonomous transactions for a plethora of use cases for businesses and individuals, acquired on-chain data aggregator Openstory. The Openstory takeover is set to enhance Ava Protocol’s ability to gain insights into EVM ecosystem blockchains.
As a result of the interaction between the two teams, the decision-making, scalability and performance for blockchain apps will be improved.
Chris Li, CEO of Ava Protocol, stresses the importance of the Openstory acquisition for the progress of Ava Protocol's product and community:
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.
With its growing ecosystem of over 30 decentralized applications (dApps) and a testnet with 10,000+ unique active wallets, Ava Protocol is operating at the forefront of blockchain automation.
It recently announced the completion of a $10 million seed funding round, with the participation of VC majors such as Electric Capital, Foundation Capital, Greylock and GSR.
Openstory's Vinh Nguyen joins Ava Protocol as system architect
Besides technical integration, Ava Protocol appointed Openstory founder Vinh Nguyen as systems architect. A Polkadot core developer and former key contributor to InfluxData, Nguyen brings vast experience in building cutting-edge data platforms, which will be instrumental in driving Ava Protocol’s innovation.
Vinh Nguyen is enthusiastic about the vision of Ava Protocol and the traction gained by the protocol so far:
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.
Two additional strategic hires have also bolstered the ranks of Ava Protocol. Bringing over a decade of experience from companies like Google and Postman, Sam Shev joins as head of marketing, where his remit will drive awareness and adoption of Ava Protocol’s vision.
Scott Staton is Ava Protocol’s new research and content lead. Drawing from his editorial experience at the New Yorker and Vice Media, as well as his previous role leading content for the decentralized computing start-up Dfinity, he will focus on educating the industry about Ava Protocol’s accomplishments and plans.
Arman Shirinyan
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