Ava Protocol is a cutting-edge platform that enables private, automated transactions across various blockchain applications. Its vision is to revolutionize the financial system to make it more transparent, efficient, and inclusive for all.
Ava Protocol acquires Openstory
Ava Protocol has recently announced the acquisition of Openstory. The deal was concluded in cash and AP token transactions. The not-yet-launched AP token is a native cryptocurrency of Ava Protocol. It’s used for governance, staking within the ecosystem, and to cover transaction fees.
Founded in 2021, Openstory is a top data streaming platform designed for on-chain data and analytics. It provides real-time insights and analytics, improved decision-making, scalability, and performance for blockchain applications.
What does the acquisition bring to the table?
As explained, Openstory is well-known for its real-time data streaming and analytics capabilities. By integrating Openstory’s technology, Ava Protocol aims to improve the scalability and performance of its blockchain automation solutions. The integration should make Ava Protocol’s solutions more efficient and reliable.
“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.”
—Chris Li, CEO of Ava Protocol.
Ava Protocol’s new strategic hires
In addition to acquiring Openstory, Ava Protocol has expanded its team with strategic hires that will help it achieve its mission. Openstory’s founder Vinh Nguyen has now become its Systems Architect. He was previously Polkadot core developer and a former key contributor to InfluxData. He’ll be in charge of driving Ava Protocol’s innovation.
“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.”
—Vinh Nguyen, Openstory founder and Ava Protocol’s Systems Architect
With a decade’s worth of experience at Google and Postman, Sam Shev took the post of Head of Marketing. His job will be to increase awareness and drive the adoption of Ava Protocol’s vision.
“I’m thrilled to join Ava Protocol, a trailblazer in decentralized automation, as Head of Marketing. The opportunity to contribute to a team that is revolutionizing the industry is truly inspiring. I am eager to collaborate with the brilliant minds at Ava Protocol and help shape a future where our work today becomes the foundation for tomorrow’s norms.”
—Sam Shev, Head of Marketing
Scott Staton joins the team as Research and Content Lead. He has multi-year experience from his work at The New Yorker and Vice Media.
“At Ava Protocol, we’re laying the groundwork for an autonomous future that’s private, composable, and on-chain. The team’s dedication to advancing blockchain technology is impressive, and I’m excited to help inform and engage the broader community on this vital work.”
—Scott Staton, Research and Content Lead
Conclusion
Ava Protocol is emerging as an important piece on the chess board called “the blockchain”. The recent acquisition of Openstory and the new strategic hires will help it in its mission of becoming a pioneering force in changing the current financial system.
