Privacy-focused blockchain SecretNetwork announced it had received $400 million in ecosystem funding, including a $225 million ecosystem fund and $175 million accelerator, with some top Web 3 firms as partners. BrandyBetz reports
a new $225 million ecosystem fund and a $175 million accelerator pool, building on the recently revealed initiative called Shockwave that's aimed at making the network a key part of Web 3.
The Secret ecosystem fund will provide long-term financial and strategic support to developers and founders building on the network, SCRT Labs, the core development team behind the network, said in a blog post on Wednesday. A long list of investment partners, including Alameda Research, Arrington Capital, CoinFund and DeFiance Capital, chipped in.
“The primary goal of the ecosystem fund is to ensure that every individual, team and organization building on Secret has a clear path to self-sustainability and support in bringing their products to market,” the Secret Network team wrote. The accelerator pool is funded in SCRT, the network’s native token, and is primarily managed by SCRT Labs. The pool will support
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