Today, Automata Network is live on the Mainnet, marking a successful culmination of years of hard work and collaboration. To mark this occasion and help grow its ecosystem further, the Automata team also launched an “Ecosystem Incentive Program” today.
With more and more users raising concerns about the privacy and security of their on-chain data, Automata Network bills itself as the dApp privacy middleware solution that operates across Web 3.0 chains. As such, the Ecosystem Incentive Program will play a key role in helping raise awareness about Automata’s privacy-first ethos while simultaneously highlighting and boosting use cases and critical products tied to the Automata ecosystem.
According to the Automata team, this initiative aligns with the platform’s long-term vision of building a fair and responsible Web 3.0, with a special focus on privacy and security. Through the incentive program, which totals $20 million, Automata will identify and support a range of new solutions, applications, and business models emerging at the intersection of privacy and DeFi. Additionally, the program will offer milestone funding, technical mentoring, and marketing outreach, fostering early-stage development to all eligible projects.
Deli Gong, Co-Founder of Automata Network, mentions,
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.”
Privacy Solutions For An Evolving Multi-Chain Ecosystem
As blockchain technology starts to gain both attention and traction, the idea of a decentralized Web, or Web 3.0, sounds particularly promising. However, the rise of decentralized solutions means that there will be increased transparency, which can easily be abused to violate user privacy.
Automata Network overcomes this challenge through its high-performance compute protocol, delivering privacy-centric, high assurance, and seamless transactions for Web 3.0 applications and businesses operating across multiple blockchains. By leveraging advanced cryptography, privacy-protecting algorithms, and Trusted Execution Environments (TEE), this protocol has numerous applications, including minimization of Miner Extractable Value (MEV) and anonymous voting.
Using its proprietary MEV minimization solution (Conveyor) and Fair Liquidity Provisioning Protocol (XATA), Automata Network makes it impossible for malicious actors to inject new transactions into the Conveyor output due to signature mismatch or delete ordered transactions. Other than this, Automata Network also offers an off-chain voting governance solution, Witness, for network participants who wish to remain anonymous when participating in-network and protocol governance decisions.
Automata is backed by several prominent investors, including Jump Trading, KR1, Alameda Research, IOSG Ventures, Divergence Ventures, and GBV Capital. In addition,the platform has successfully raised $3.4 million funding months before its Mainnet launch, further highlighting the demand for privacy solutions for Web 3.0.