01 Nov 2021 · 2 min read

Automata Network Launches Its Mainnet Alongside a USD 20 Million Incentive Program

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Image source: Automata

Privacy middleware blockchain solution, Automata Network announced the launch of its mainnet network following a three-year development phase. The protocol aims to provide middleware services for decentralized applications (DApps) on Ethereum and Polkadot to achieve traceless privacy, high assurance, and frictionless computation.

Automata Network also announced the launch of a USD 20 million Ecosystem Incentive Program along with the mainnet to help identify and support projects building on its network, a statement from the team reads. The incentive program has so far raised over USD 3.4 million from top cryptocurrency venture capital firms including Alameda Research, Jump Trading, KR1, IOSG Ventures, Divergence Ventures, and GBV Capital.

Deli Gong, Co-Founder at Automata Network, expects the initiative to help advance the overall crypto ecosystem and further the company’s mission to provide fair, responsible, and privacy-enhanced Web 3.0 applications through incentivization of its community. Speaking on the latest milestones, Gong said, 

“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.”

The Automata Ecosystem Incentive Program will focus on projects that focus on providing high-quality contributions to the mainnet and those growing and expanding the network. It aims at advancing the privacy-first ethos of Web 3.0 and boosting use cases and key products tied to the Automata ecosystem. The incentive targets projects and developers building on top of Automata’s middleware services, the creation of tools/modules/extensions/libraries for its products, and research and education on related subjects such as user privacy.

Over the long term, the incentive aims to introduce a full range of solutions, applications, and business models that combine the power of decentralized finance (DeFi) and privacy. During this time, Automata Network will partner with shortlisted projects to provide support across milestone funding, technical mentoring, and marketing outreach to catalyze their early-stage development.

As alluded to, Automata’s mainnet aims to provide a privacy-focused product suite that provides solutions to the prevalent issues facing blockchain’s inherent transparency. It leverages Conveyor, XATA, and Witness to provide fair, independent, and privacy-enhanced off-chain governance solutions to its users.

Conveyor is a middleware solution that minimizes Maximal Extractable Value for users incorporating privacy modules as requested. XATA provides a Fair Liquidity Provisioning Protocol incubated by the Automata Network ecosystem, which works independently from any external influences including any miner bribes or modifications. Finally, Witness, which has supported over 13 industry projects including Avalanche, Polygon, and Moonbeam network, provides off-chain governance solutions with integrated privacy protocols.

In the future, the Automata dev team will advance the features and functionalities of its network including external integrations of community-maintained nodes, onboarding the first wave of Automata-developed middleware services, and the eventual upgrade to Nominated Proof of Stake consensus as they prepare for a fully decentralized governance protocol.