Biconomy Launches 'Delegated Authorization Network' for AI Agents, Ava Protocol Raises $10M for EigenLayer AVS

Biconomy, a Web3 infrastructure company, launched a new "Delegated Authorization Network," or DAN, "enabling the safe delegation of on-chain activities to AI agents," according to the team. A press release added: "Biconomy DAN operates by granting AI projects approved access to user's 'Delegated Auth' keys stored on an EigenLayer AVS (Actively Validated Services), ensuring true autonomy without compromising on security.

Web3 infrastructure company Biconomy has launched a new Delegated Authorization Network (DAN), enabling the safe delegation of on-chain activities to AI agents, the team announced Friday. Biconomy DAN operates by granting AI projects approved access to a user's Delegated Auth keys stored on an EigenLayer Actively Validated Services (AVS), ensuring true autonomy without compromising on security, according to a press release. To integrate DAN into an AI agent, projects need to use key storage on DAN, an EigenLayer AVS, and program user-defined permissions for those keys using the DAN software development kit (SDK). Biconomy has collaborated with Silence Labs for the development and launch of DAN, the team added.

Ava Protocol, formerly known as OAK Network, has secured $10 million in seed funding ($5.5 million initial and $4.5M seed+ rounds) to develop its Eigenlayer Actively Validated Services (AVS) for private autonomous transactions on Ethereum, the team announced Friday. Investors include Electric Capital, Taisu Ventures and Polygon founder Sandeep Nailwal, according to the team. The funding supports core Web3 infrastructure, enabling cross-chain smart contract automation for applications like limit orders on decentralized exchanges, the team said. Over 10,000 wallets use its testnet with 1,000+ daily transactions. With 30+ partners, including Polkadot and Moonbeam, Ava aims to simplify Web3 application deployment.

Covalent has announced that BitMEX founder Arthur Hayes will be joining the company as a new strategic advisor, according to a press release Friday. Hayes, who currently serves as chief investment officer of Maelstrom, will be leading the development of the Ethereum Wayback Machine, ensuring that all Ethereum and EVM rollup data will shape AI with a preformat and verifiably secure pipeline, the team said. This partnership will further secure Ethereum’s historical data preservation, ensuring accessibility and transparency to the ecosystem’s full history, according to the statement.

Core, an Ethereum-compatible layer-1 blockchain project that relies on Bitcoin for its security setup, is launching the BTCfi Summer Hackathon, a 12-week event designed to ignite innovation in the Bitcoin economy, according to the team Friday. There are prizes for the top three positions ranging from a $5,000 – $15,000 grant, access to Defi workshops, social media highlights, a feature in the BTCfi ecosystem newsletter and more, according to the team. The hackathon launched June 6 and the winners will be announced Aug. 19.

SubQuery Network, a distributed network of decentralized indexers and RPC providers, is launching the first decentralized RPCs for Polkadot and Kusama, according to the team Friday. The Polkadot RPCs that have been deployed for the Polkadot relay chain and Kusama are operated by more than 30 independent node operators, the team said.