Automata Network, today, launched its “Ecosystem Incentive Program” to identify and support projects that align with its core mission of a fair and responsible Web 3.0. The launch of the Incentive Program coincides with Automata’s successful Mainnet release, which is the culmination of nearly three years of dedication and hard work.

Remarking on the launch of the Incentive Program, Deli Gong, Co-Founder of Automata Network, states, “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.”

At present, Automata Network has pledged $20 million to the new initiative. The team has underlined that the program will consider projects that add more value to the Automata Network, such as using Automata’s middleware services to build dApps and developing tools, modules, extensions, and libraries that add more functionality to the network. The Incentive Program will also identify and support individuals and projects involved in researching and educating critical topics related to Web 3.0 privacy.

Building A Safer And More Secure Decentralized Web

Built by blockchain industry veterans, Automata Network has developed its privacy-focused product suite for Web 3.0, working hand-in-hand with industry leaders through invitation-only programs such as the Web3 Foundation Grant, Web 3.0 Bootcamp, and the Berkeley Blockchain Xcelerator. 

Before the Mainnet release, Automata Network received support from prominent investors like Jump Trading, KR1, Alameda Research, IOSG Ventures, Divergence Ventures, and GBV Capital, raising $3.4 million in capital to expand the scope of its privacy middleware solution further.

Automata Network’s products aim to solve critical issues that are increasing in prevalence due to blockchain’s inherent transparency by focusing on privacy. Automata Network’s ecosystem leverages the capabilities of Conveyor, a middleware platform for reducing miner extractable value (MEV), to incubate XATA, a fair liquidity provisioning protocol. 

It also uses advanced cryptography, privacy-preserving techniques, and trustworthy execution environments (TEE) to support numerous privacy use-cases such as Anonymous Voting and Miner Extractable Value (MEV) reduction. Gong 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.” 

Following today’s successful Mainnet launch, Automata aims to unlock more functionalities, such as external integrations of community-maintained nodes, onboarding Automata-developed middleware, and upgrading to Nominated Proof of Stake consensus before fully migrating to the decentralized governance model.