- Additional functionality will be unlocked as the network progresses through its phases.
- This protocol is based on Conveyor, a middleware solution.
A $20 million Ecosystem Incentive Program was unveiled today by Automata Network. With the participation of industry leaders such as the Web3 Foundation Grant, Web 3.0 Bootcamp, and Berkeley Blockchain Xcelerator, the Automata Network Mainnet is finally the conclusion of over three years of development effort. Jump Trading, KR1, Alameda Research, IOSG Ventures, Divergence Ventures, and GBV Capital are among the investors that contributed approximately $3.4 million to the initiative.
Commenting on the company’s growth, Deli Gong, Co-Founder at Automata Network, said, “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.”
Automata Ecosystem Incentive Program showcases and improves application cases and major products related to the Automata ecosystem. With privacy and decentralized finance becoming more intertwined, a new wave of solutions, apps, and businesses in the long-term objective. This is when Automata Network will collaborate with selected projects to help finance milestones, mentor, and promote them.
Its privacy-focused product suite aims to address concerns arising from blockchain’s inherent openness. This protocol is based on Conveyor, a middleware solution that reduces Maximal Extractable Value while ensuring privacy. Avalanche, Polygon Network, and Moonbeam Network have all used Witness for off-chain governance.
Automata Network’s ambitious plan includes the introduction of Mainnet. Before completely decentralized governance can commence, additional functionality will be unlocked as the network progresses through its phases.
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