Ava Protocol, EigenLayer’s active, event-driven service (AVS), has seen significant growth since its launch in July. Automation provider Web3 reported a surge in demand for its “super-transaction” solution ahead of its token launch.
Web3 automation provider sees 900% increase in demand
Ava protocol I mentioned 900% increase in demand for its blockchain automation solution. EigenLayer AVS provides a Web3 infrastructure to support cross-chain automation, enabling composable independent transactions and allowing developers to quickly deploy decentralized applications.
The protocol has recorded $3 billion in repossessed assets since its launch on the EigenLayer mainnet four months ago. The Ava protocol operator’s total value locked (TVL) reportedly soared to $1.7 billion worth of Ethereum (ETH) within two weeks of its launch.
Additionally, the report reveals that it acquired over 11,500 unique wallets and reached over 1,000 daily automated transactions taking place on the testnet.
The “hyper-transactional” solution from automation provider Web3 aims to deliver “seamless, private, composable automation” for any smart contract function, eliminating the need for developers to write code.
Ava Protocol simplifies blockchain for developers and non-technical users. Through the automation provider’s solution, users have access to enhanced privacy, composability, and significantly reduced transaction costs.
The future of the Blockchain automation landscape
Chris Lee, founder of Ava Protocol, commented on how hypertransactions will “transform the blockchain automation landscape” by helping creators build more efficiently and simplifying the creation of Web3 applications:
By offering no-code, composable automation, we enable developers and creators to build more efficiently, whether they work in DeFi, NFTs, or RWAs. Our platform brings simplicity to complex processes, making them accessible to non-technical users through intuitive tools like a drag-and-drop interface, or an AI-powered autopilot.
The Web3 infrastructure provider recently partnered with Soneium, Sony’s Ethereum Layer 2 (L2) technology, to bring automation to the network through the Soneium Spark incubation program. The collaboration seeks to “simplify blockchain” for Soneium developers and users with limited technical knowledge by executing transactions and smart contracts based on pre-defined conditions.
The partnership is set to enable Sony blockchain creators and developers to monetize their work through intent-based, no-code automation, allowing them to tokenize real-world assets (RWA) and open up fractional ownership along with new distribution methods.
Furthermore, Ava Protocol has also partnered with other EigenLayer AVSs to offer its own automation services, including fixed-rate lending dApp Term Finance, quantitative trading DEX Lhava, RWA ecosystem Zoth, and redemption rewards provider Hourglass.
Ava Protocol expects to release its token after recent development and collaboration in the following months. The automation provider is seeking to “establish itself” as a leading player in the sector by launching its cryptocurrency in the next two to three months.
At the time of writing, no further details about the token launch have been revealed.
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