Nevertheless, early-stage funding is not the only incentive offered by the program since Automata representatives plan to closely cooperate with the qualified entities, offer them technical mentoring and marketing outreach. It is perhaps noteworthy that the total market capitalization of the ATA token currently stands at around $200 million.

The program will distribute $20 million among projects that highlight or develop products tied to the Automata ecosystem. A $20 million Incentive Program intended to boost use cases of the Automata EcosystemĪlong with the mainnet launch, the privacy-focused project has announced that they have established Automata Ecosystem Incentive Program. In the last stage, Automata will transition to a fully decentralized governance. The roadmap also mentions external integrations and scaling the network through upgrading to Nominated Proof of Stake consensus. The onboarding of the first Automata-developed middleware services will follow soon. The creation of ATA native token and deployment of the ATA ERC20 to native ATA token bridge are scheduled for the upcoming stages. The genesis block of the mainnet places Automata Network at the beginning of the Carboniferous Period.

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.” “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. Deli Goong, co-founder at Automata Network applauded the mainnet launch and highlighted the importance of privacy in Web 3.0. The Mainnet launch that took place on November 1 is the first major milestone in Automata Network’s ambitious roadmap, which is subdivided into 8 stages that carry the names of the earth’s geological periods. Automata Network’s Mainnet Rolled Out on November 1 The project claims that by using its services when interacting with Web 3.0 applications, users can achieve traceless privacy, while being granted high assurance and frictionless computation at the same time. Automata Network’s privacy-focused product suite aims to solve this problem. While this is good for transparency, this lack of privacy is becoming a critical issue in DeFi and other instances of Web 3.0 use cases. As you may know, most blockchain ledgers are public, meaning that the transactions and smart contracts are forever imprinted in the blockchain. What is Automata Network?Īutomata Network is a decentralized service protocol that provides middleware services for Web 3.0 (dApps running on Ethereum and Polkadot). Nevertheless, Automata also attracted over $3.4 million in venture capital from a group of investors including Jump Trading, KR1, Alameda Research, IOSG Ventures, Divergence Ventures, and GBV Capital. The funds for mainnet development originated from various invitation-only programs such as the Web3 Foundation Grant, Web 3.0 Bootcamp, and the Berkeley Blockchain Xcelerator. The Mainnet launch is the first big step in Automata Network’s ambitious roadmapįollowing nearly three years of constant development and working hand in hand with industry leaders, the Automata Network announced the launch of its mainnet today.Automata has established a $20 million Ecosystem Incentive Program to boost innovation and network’s adoption.Automata Network, a Singapore-based privacy-focused middleware services provider for Ethereum and Polkadot, celebrates the official Mainnet launch today.

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