Ava Protocol, the event-driven EigenLayer Active Validated Service (AVS), has seen notable growth since launching in July. The Web3 automation provider reported a significant increase in demand for its “super-transactions” solution ahead of its token launch.
Web3 Automation Provider Sees 900% Demand Increase
Ava protocol reported a 900% surge in demand for its blockchain automation solution. The EigenLayer AVS offers Web3 infrastructure to support cross-chain automation, enabling composable autonomous transactions and allowing developers to deploy dApps rapidly.
The protocol records $3 billion in restaked assets since launching on EigenLayer’s mainnet four months ago. Ava Protocol’s operator Total Value Locked (TVL) reportedly spiked to $1.7 billion worth of Ethereum (ETH) within two weeks of its launch.
Additionally, the report reveals it has gained over 11,500 unique wallets and reached over 1,000 daily automated transactions running on the testnet.
The Web3 automation provider’s solution “super-transactions” aims to offer “seamless, private, and 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. With the automation provider’s solution, users can access enhanced privacy, composability and significantly lower transaction costs.
The Future Of The Blockchain Automation Landscape
Chris Li, the founder of Ava Protocol, remarked on how super-transactions “are transforming the landscape of blockchain automation” by assisting creators to build more efficiently and simplifying the creation of Web3 applications:
By offering no-code, composable automation, we empower developers and creators to build more efficiently, whether they’re working in DeFi, NFTs, or RWAs. Our platform brings simplicity to complex processes, making them accessible to non-technical users through intuitive tools like our drag-and-drop interface, or our AI-powered automation copilot.
The Web3 infrastructure provider recently partnered with Soneium, Sony’s Ethereum Layer 2 (L2) blockchain, to bring automation to the network through Soneium Spark’s 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 predefined conditions.
The partnership is set to enable creators and developers in Sony’s blockchain to monetize their work with intent-base, no-code automation, allowing them to tokenize Real-World Assets (RWA) and unlock fractional ownership alongside new distribution methods.
Moreover, Ava Protocol has also partnered with other EigenLayer AVSs to offer its automation services, including fixed-rate lending dApp Term Finance, quantitative trading DEX Lhava, RWA ecosystem Zoth, and restaking rewards provider Hourglass.
Ava Protocol expects to issue its token following its recent development and collaborations in the following months. The automation provider seeks to “cement itself” as a leading player in the sector by launching its cryptocurrency in the next two to three months.
At the time of this writing, further details about the token’s launch have not been revealed.
Source: NewsBTC