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Automata Network Launches in Mainnet, Announces $20 Million Incentive Program

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Mon, 11/01/2021 - 13:00
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Vladislav Sopov
Following oversubscribed funding round, Automata Network launches its mainnet operations
Automata Network Launches in Mainnet, Announces $20 Million Incentive Program
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Automata's mainnet is going to empower Ethereum- and Substrate-based decentralized applications with an additional level of privacy mechanisms.

Automata Network finally live in mainnet

According to a press release shared with U.Today, Automata Network, an ecosystem that advances the level of privacy for Ethereum and Polkadot dApps and DeFis, has launched in mainnet.

Automata Network launches in mainnet
Image by Automata Network

Its team stresses that this release is the result of three years of technical progress backed by leading invitation-only initiatives in blockchain programming, including the likes of a Web3 Foundation Grant, Web 3.0 Bootcamp and the Berkeley Blockchain Xcelerator.

This release follows a successful funding round: Automata Network secured a total of $3.4 million from a clutch of high-profile investors, such as Jump Trading, KR1, Alameda Research, IOSG Ventures, Divergence Ventures and GBV Capital.

Deli Gong, co-founder of Automata Network, stresses the importance of this release for the privacy of decentralized software programs on Ethereum and Polkadot:

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 covered by U.Today previously, Automata Network released its ATA token on Binance Launchpad in early June 2021.

Related
Automata Network Releases ATA on Binance Launchpool, Secures $2.4 Million in Latest Funding Round

On June 7, 2021, ATA was listed on Binance against its native token, BNB.

$20 million incentive program for community enthusiasts

To accelerate the growth of the Automata Network ecosystem, its team introduced a large community incentive program. A total of $20 million will be distributed among projects interested in leveraging Automata Network solutions for privacy in dApps and DeFi.

Besides funding, Automata Network will support shortlisted teams with mentorship, technical and marketing expertise to catalyze its early-stage progress.

The most crucial elements of Automata Network's product suite include Leveraging Conveyor, a middleware privacy-focused solution designed to eliminate MEV and XATA, a novel Fair Liquidity Provisioning Protocol.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)