Ava Protocol Acquires Openstory, Preparing for Mainnet Launch

Bittime -Ava Protocol (formerly Oak Network), the active verification service (AVS) of Web3 automation platform EigenLayer, has acquired blockchain data startup Openstory. Details of the acquisition, including the purchase price, have not been disclosed.

This strategic move comes ahead of Ava Protocol's highly anticipated mainnet launch on the Ethereum blockchain in the next three weeks. The acquisition was financed through a combination of cash and Ava Protocol's native AP token, which has not yet been released.

Strengthening Web3 Automation with Openstory

Openstory's expertise in blockchain data analysis will play a critical role in supporting Ava Protocol's core functionality. This acquisition signals Ava Protocol's commitment to providing a powerful and efficient platform for Web3 automation.

Vinh Nguyen Joins Ava Protocol

As part of the deal, Openstory founder Vinh Nguyen has joined Ava Protocol, taking on the role of system architect. His expertise will be critical in integrating Openstory technology with the Ava Protocol infrastructure.

Mainnet and Token Launch Coming Soon

After mainnet launch in three weeks, Ava Protocol plans to officially launch its AP token in 2-3 months. These tokens will likely play an important role in the Ava Protocol ecosystem, potentially driving participation and governance.

Conclusion

The acquisition of Openstory and the upcoming launch of its mainnet and AP token mark important milestones for Ava Protocol. With a focus on Web3 automation, Ava Protocol positions itself as a key player in the ever-evolving blockchain landscape.

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