Automata Network Launches Mainnet and $20M Ecosystem Incentive Program

Automata Network happily announces the launch of its official mainnet. With this launch also comes an Ecosystem Incentive Program worth $20 million. In detail, the mainnet launch comes from three years of working with industry leaders.

Specifically, contributions came from invite-only programs like the Berkeley Blockchain Xcelerator, the Web 3.0 Bootcamp, and the Web3 Foundation Grant. More so, investors have supported this project. Overall, more than $3.4 million came from a notable group of investors. To name a few, Alameda Research, Divergence Ventures, GBV Capital, IOSG Ventures, Jump Trading, and KR1.

To highlight, the Co-Founder at Automata Network says,

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.

As for the Automata Ecosystem Incentive Program, it aims to advance the privacy-first ethos of Web3.0. In detail, it will highlight and elevate key products and use cases that tie in with the Automata ecosystem.     

The brand’s long-term goal is to have a full range of new solutions, business models, and applications to cater to the interconnecting space of DeFi and privacy. When the time comes, Automata Network will begin to partner with projects that will support their future milestones. For instance, technical monitoring, milestone funding, and marketing outreach for catalyzing early-stage development.

Above all, the firm’s privacy-focused product suite will solve rising critical issues that prevail due to blockchain’s inherent transparency. Thus, the mainnet launch is an imperative step in Automata Network’s roadmap. As the network continues to grow, more features will be available to its users.

To specify, these include onboarding the first wave of Automata-developed middleware services, external integrations of community-maintained nodes, and the inevitable upgrade to the Nominated Proof-of-Stake (NPoS) consensus. The latter will happen before the network will switch to fully decentralized governance.

Source: https://coinquora.com/automata-network-launches-mainnet-and-20m-ecosystem-incentive-program/