Ava Protocol completes $10 million seed round financing, with participation from Polygon founder and others

2024-06-12 08:05:26

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ChainCatcher news, according to CoinDesk, Ava Protocol (formerly OAK Network) has completed a $10 million seed round financing, with participation from Electric Capital, Taisu Ventures, and Polygon founder Sandeep Nailwal. The new funds will be used to develop its Eigenlayer AVS for private autonomous trading on Ethereum.

Additionally, the Web3 asset data platform RootData shows that Ava Protocol is an intent-based Eigenlayer AVS that seamlessly supports privacy autonomous trading for a wide range of use cases, including DeFi, NFTs, and gaming. Ava Protocol is enhancing decentralized applications with features such as recurring and scheduled payments, stop-loss orders, and streaming rewards. The event-driven execution model of Ava Protocol triggers cross-chain transactions based on signals such as time, price changes, and smart contract updates. Developers can easily schedule and automate functions across different blockchains (including Ethereum), ensuring efficient and reliable execution without compromising privacy.

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Ava Protocol OAK Network Eigenlayer AVS

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