Automata Debuts on Binance Launchpool, Raises $2.4M Funds for DApps Privacy

Automata has successfully ended a seed funding round which raised 2.4 million. Its native token ATA’s Launchpool farming is already live on Binance.

Automata Network is a decentralized service protocol that offers privacy middleware for decentralized applications (dApps) to reach traceless privacy, high assurance, and frictionless computation. Automata Network is a decentralized service protocol that provides middleware-like traceless privacy services for dApps on Ethereum (ETH) and Polkadot (DOT) to achieve privacy, high assurance and frictionless computation.

Automata Network Successfully Completes $2.4M Funding Round

The ever-growing Automata has successfully ended a funding round that raised 2.4 million. Before they raised $1 million in a seed round conducted in March.

Notably, the funding round was led by a list of investors that includes KR1, Jump Trading, and IOSG Ventures. In addition, the Automata has also announced its launch officially on Binance Launchpool. This indicates users can now farm or earn the ATA token just by staking.

Managing Director and Co-Founder of KR1 Keld van Schreven commented,

“From the team’s technical progress to partnerships made one after the other with the industry’s leading and most active projects, it was apparent that Automata had both the vision and the ability to execute it right on the mark.”

Keld also added that their support of Automata Network speaks to their commitment to the sustainable innovation of a privacy-focused Web3 economy, and they will continue to look forward to the great work from the team.

Automata (ATA) on Binance Launchpool

Automata’s ATA token will be listed on Binance on June 07, 2021, at around 06:00 AM (UTC). Furthermore, it will open trading with ATA/BTC, ATA/BNB, ATA/BUSD, and ATA/USDT trading pairs. Ahead of that, ATA Binance Launchpool farming is already live, where users can stake BNB, BUSD, or DOT to earn new ATA token rewards. This enables them to farm ATA tokens over 30 days. Moreover, farming started on 2021-06-02 00:00 AM (UTC).

The network began in March 2021. More so, it is a decentralized service protocol with a middleware service layer for DApps over many blockchain platforms. Besides, it adds privacy while making cross-platform integration smooth. The Launchpool would offer token rewards of up to a whopping 40 million ATA. This represents just 4% of the total token. In addition, ATA has a maximum token supply of 1,000,000,000 ATA.

More so, 28,000,000 ATA, representing 70% of the utility tokens, will be available for users who stake BNB tokens. Also, 4,000,000 ATA, meaning 10% of the assigned tokens, will be for users who stake BUSD. Lastly, 8,000,000 ATA in rewards will go to the DOT stake, making up 20% of the available tokens.

Even more, in order to introduce and use Obilivious RAM in the space of blockchain for dApps, Automata’s privacy-focused solutions will include Witness, an off-chain governance tooling solution, and Conveyor for MEV Minimization. In addition, the former is supported by many blockchain firms that include Plasm and Clover Finance.

Added to this, Jocy Lin, Founding partner at IOSG ventures explained pointing out the company’s traction. Jocy said it is clear how important privacy is for all Dapps developed on the Web3 stack. However, Automata emerges as a market leader in the space. Automata Network Co-founder Deli Gong also made his views, where privacy continues to be held in theoretical regard, there is also the dismaying fact that practical adoption continues to be slow. For instance, taking a break away from centralized infrastructure is only the starting, and that provides developers and users an opportunity for a seamless experience to make privacy a built-in option.

Furthermore, Automata Network is part of Berkeley Blockchain Xcelerator 2021, a recipient of the Web3 foundation grants program, and chosen into the inaugural Web 3.0 Bootcamp in 2020 previously.

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Source: https://coinquora.com/automata-debuts-on-binance-launchpool-raises-2-4m-funds-for-dapps-privacy/