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Automata Network Launches $20M Ecosystem Incentive Program as Mainnet Goes Live

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by Julia Sakovich · 3 min read
Automata Network Launches $20M Ecosystem Incentive Program as Mainnet Goes Live
Photo: Automata Network / Medium

Automata is backed by prominent investors like Jump Trading, KR1, Alameda Research, IOSG Ventures, Divergence Ventures, and GBV Capital.

To accompany its successful Mainnet launch, Automata Network, the privacy middleware layer for Web 3.0, flagged off its “Automata Ecosystem Incentive Program” today. This new launched initiative aims to identify and support projects that align with the platform’s vision for a privacy-first Web 3.0.

As Automata Network continues to add new features and functionalities to its suite of products, the Ecosystem Incentive Program will play a critical role in the growth and expansion of the network and the community. Per the Automata team, this program will consider projects that focus on providing high-quality contributions to the Automata Network.

The Automata Ecosystem Incentive Program will give more preference to projects that leverage Automata’s infrastructure to build dApps and projects covering extensions, tools, libraries, and modules that add more functionality to the Automata Network. In addition, the program will also support individuals and projects involved in research and education related to topics like MEV and dApp privacy.

Deli Gong, Co-Founder at Automata Network, adds, “In a way to be expected, crypto has shaped and incentivized finance around the strength of communities, but for this human coordination to scale, privacy is sorely needed. With the rollout of our Mainnet and the launch of the Automata Ecosystem Incentive Program, we’re proud to support DeFi with the privacy it so deserves to truly bring it into the Web 3.0 layer.”

Laying the Groundwork for a Privacy-First Web 3.0 Ecosystem

While transparency is one of the key pillars of Web 3.0, the completely open records of users’ on-chain activity are raising concerns about user privacy. With the DeFi sector expanding into a multi-billion dollar industry, potential security threats and privacy leakages associated with asset transfers across protocols have become a pertinent threat.

This is where Automata Network comes into the picture, presenting itself as a decentralized privacy solution for dApps across multi-chain ecosystems. The platform’s privacy-focused product suite uses industry-leading cryptography, privacy-protection algorithms, and hardware trusted platforms to enable numerous privacy use-cases such as Anonymous Voting and Miner Extractable Value (MEV) reduction.

Built by the industry’s foremost blockchain veterans and researchers with experience from the National University of Singapore, LongHash, and Zilliqa, Automata Network has achieved several significant milestones since its launch. It is a recipient of Web3 Grant (2020), and a participant of the Web 3.0 Bootcamp (2020), Berkeley Blockchain Xcelerator (2021), and Polkadot Decoded Mainstage (2021).

Automata is backed by prominent investors like Jump Trading, KR1, Alameda Research, IOSG Ventures, Divergence Ventures, and GBV Capital. The platform recently raised $3.4 million to accelerate the developmental work. As such, the Mainnet launch marks another significant milestone in Automata’s roadmap.

As more and more projects enter Web 3.0, Automata Network has positioned itself as the much-needed privacy solution that can help dApps across chains ensure better security for users without compromising transparency.

Altcoin News, Blockchain News, Cryptocurrency news, News
Julia Sakovich
Editor-in-Chief Julia Sakovich

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

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