Web3 infrastructure project Ava Protocol has announced its mainnet launch on Ethereum as an EigenLayer AVS for smart contract automation. This milestone empowers developers to seamlessly integrate Ava Protocol’s enhanced transaction automation, privacy, composability, and cost-efficiency into their dapps and projects, providing broad compatibility across the EVM ecosystem.
Ava Protocol’s event-driven activation model simplifies complex on-chain operations, triggering autonomous “super-transactions” when predefined conditions like time, price, and smart contract updates are met. This streamlined approach to automating smart contracts reduces friction for both developers and end-users, overcoming a significant barrier to web3 adoption with Stripe-like simplicity. Super-transactions require no custom code, allowing developers to implement them with ease.
Ava Protocol will launch as an Actively Validated Service (AVS) on EigenLayer. Because AVSs aren’t limited by the Ethereum Virtual Machine’s design, they can offer developers new capabilities beyond what’s directly possible on Ethereum and other EVM-based chains. Ava Protocol fulfills the vision of a new event-driven activation service, as noted in the EigenLayer whitepaper, providing on-chain automation with strong guarantees of execution for time-sensitive transactions and multi-step processes. It supports scheduling future and recurring payments, stop-loss and limit orders, streaming rewards, dynamic NFT minting, and more, making it a highly adaptable tool for dapps.
Chris Li, Founder of Ava Protocol, said: “With the support of our partners and community, we’ve reached a pivotal moment in our mission to deliver automated super-transactions on Ethereum. The launch of Ava Protocol’s mainnet will unlock new use cases for autonomous transactions that power smart contracts. We’re excited to showcase the versatility of EigenLayer’s AVS technology while addressing critical web3 automation challenges.”
Ava Protocol is among the first 15 projects to launch an AVS, bootstrapping its active validation using pooled security from Ethereum validators via EigenLayer’s innovative restaking mechanism. The protocol is going live with 20 EigenLayer operators that were sourced from the top 100 EigenLayer operators by TVL, including EigenYields, InfraSingularity, Kukis Global, Coinage, and Staking4All.
Alex of EigenYields, a leading operator that runs actively validated services for EigenLayer, said: “We see immense potential in Ava Protocol’s automated super-transactions, and are thrilled to provide a secure and resilient foundation for this innovative technology. This aligns with our mission to maximize value for our delegators by pushing the Ethereum ecosystem forward.”
Sam Shev, Ava Protocol Head of Marketing, added: “We’re excited to bring Ava Protcool’s technology to a live environment for the first time and to see what our community will build using super-transactions. Thanks to the EigenLayer operators who have joined us on this mission, Ava Protocol will launch with a strong foundation to anchor everything that comes next.”
The Ava Protocol mainnet launch follows a successful testnet that saw the participation of 10,000 wallets and more than 1,000 automated transactions generated daily. Ava Protocol will soon publish a detailed plan of AP token incentives for initial operators.
About Ava Protocol
Ava Protocol provides web3 infrastructure for cross-chain automation. Its innovative technology enables composable autonomous transactions, allowing developers to rapidly deploy powerful dapps. Ava Protocol empowers web3 builders to conveniently create solutions that maximize efficiency and ease of use.
This post was last modified on Jul 16, 2024, 14:00 BST 14:00