Image source: Automata
Following Automata Network’s Mainnet launch today, the Automata team unveiled its “Automata Ecosystem Incentive Program” to identify and support up-and-coming blockchain projects that align with the platform's core vision of a fair, responsible, and privacy-first Web 3.0.
With $20 million allocated for the incentive program, the Automata team has underlined that it will consider projects focused on providing high-quality contributions to the Automata Network. These activities could include developing dApps and solutions on top of Automata Network or its middleware services and creating new tools, modules, extensions, or similar additions for the Automata ecosystem.
Other than this, the Automata Ecosystem Incentive Program will also support projects and individuals contributing to key topics like MEV, dApp privacy via research, publications, and spreading awareness. All shortlisted projects will receive support across milestone funding, technical mentoring, and marketing outreach from the Automata Network.
Commenting on the successful Mainnet rollout and the launch of the Incentive Program, Deli Gong, Co-Founder of Automata Network, notes, “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.”
Setting The Foundation For Web 3.0 Privacy And Security
Automata Network offers a privacy middleware layer as a decentralized service for dApps operating across multiple blockchains. By leveraging the latest cryptography and privacy-protecting algorithms alongside Trusted Execution Environments (TEE), the platform supports several valuable use-cases such as anonymous voting and miner extractable value (MEV) minimization.
The platform’s privacy-focused product suite is designed to protect the privacy-first ethos of Web 3.0 while solving critical concerns that are becoming increasingly prevalent because of blockchain’s inherent feature of transparency. As such, the Mainnet release marks a significant milestone in Automata Network’s strategic roadmap.
The Mainnet launch of the Automata Network is the culmination of nearly three years of effort, wherein the entire team has worked with industry leaders through invitation-only programs such as the Web3 Foundation Grant, Web 3.0 Bootcamp, and the Berkeley Blockchain Xcelerator. Capitalizing on its Mainnet rollout, Automata Network will continue adding more functionalities to its products, including integration with external community-maintained nodes and onboarding the first batch of Automata-developed middleware services.
Automate Network has gained significant support since its Testnet launch, successfully raising $3.4 million from a consortium of investors, including Jump Trading, KR1, Alameda Research, IOSG Ventures, Divergence Ventures, and GBV Capital. As Automata continues to meet its strategic goals, the team will eventually transition to the Nominated Proof of Stake (NPoS) consensus and then implement a fully decentralized governance process.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.