Ava Protocol, EigenLayer’s event-driven Active Validated Service (AVS), has seen significant growth since its launch in July. Automation provider Web3 has reported a significant raise in demand for its “super trade” solution ahead of its token launch.
Web3 automation provider sees demand raise by 900%.
Ava protocol reported 900% raise in demand for a blockchain automation solution. EigenLayer AVS offers a Web3 infrastructure to support cross-chain automation, enabling the composition of autonomous transactions and enabling developers to quickly deploy dApps.
The protocol has recorded $3 billion in seized assets since launching on the EigenLayer mainnet four months ago. According to reports from Ava Protocol operator Total Value Locked (TVL), the value of Ethereum (ETH) rose to $1.7 billion within two weeks of its launch.
Additionally, the report shows that the company has gained over 11,500 unique wallets and achieved over 1,000 automated transactions per day conducted on the test network.
The Web3 automation provider’s “super-transaction” solution aims to offer “seamless, private and composable automation” for any sharp contract function, eliminating the need for developers to write code.
Ava Protocol simplifies blockchain for developers and non-technical users. With an automation provider’s solution, users can gain access to increased privacy, composability, and significantly lower transaction costs.
The future of the blockchain automation landscape
Chris Li, founder of Ava Protocol, noted how supertransactions are “reshaping the blockchain automation landscape” by helping developers build more efficiently and simplifying the creation of Web3 applications:
By offering automation with the ability to compose without code, we enable developers and creators to create more efficiently, whether they work in DeFi, NFT or RWA. Our platform simplifies intricate processes, making them accessible to non-technical users through intuitive tools such as our drag-and-drop interface or our AI-powered second automation pilot.
Infrastructure provider Web3 recently partnered with Soneium, Sony’s Ethereum Layer 2 (L2) blockchain, to bring automation to the web through Soneium Spark’s Incubation program. The collaboration aims to “simplify blockchain” for Soneium developers and users with circumscribed technical knowledge by executing transactions and sharp contracts based on pre-defined conditions.
The partnership aims to enable creators and developers using Sony’s blockchain technology to monetize their work through intent-based, no-code automation, enabling them to tokenize real-world assets (RWA) and unlock fractional ownership along with modern distribution methods.
Moreover, Ava Protocol has also partnered with other EigenLayer AVS to offer its automation services, including fixed-rate lending dApp Term Finance, quantitative trading DEX Lhava, RWA ecosystem Zoth, and repricing rewards provider Hourglass.
Ava Protocol expects to issue its token following recent developments and collaborations in the coming months. The automation provider is seeking to “establish itself” as a leading player in the industry by launching its cryptocurrency in the next two to three months.
At the time of writing, no further details regarding the token launch have been released.
