New Investors and $400 Million Funding in Secret Network

Shockwave was recently revealed by Secret Network. It is a growth-oriented initiative that is aimed to strengthen the grounds of Secret Network as a pillar and data privacy hub for Web3.

Secret Network has now made three announcements under the initiative. The first announcement reveals a list of reputed investment firms that have bought a share in the ecosystem of Secret Network.

The second announcement shares the fueling of a $225 million fund from 25 existing investors. This fund will be targeted to expand the application layer, tooling, and infrastructure of the network.

Finally, the third announcement shares an introduction of Accelerator Pool which is worth around $175 million.

First Announcement

Secret Network’s first announcement shares a list of investors who have joined its ecosystem. New investors will assist Secret Network in achieving its aim of global expansion.

Investors who have acquired their positions in SCRT will enable Secret Network to onboard new users and launch more applications that will be fully developed on Secret.

The mission of Secret Network is to ensure that every app that has been built in its ecosystem has data privacy guarantees and offers customizable privacy controls.

Some of the partners who are now a part of Secret Network are Alameda Research, DeFinance Capital, Hashkey, and CoinFund. Secret Network, along with its partners, will work in the direction of adopting Web3 technologies that prioritize privacy.

Brain Lee, a Partner at Alameda Research, has called Secret Network a market leader in solving the need for data privacy. Many more similar appreciations have been poured in by every investor.

Second Announcement

Secret Network has shared details of the Secret Ecosystem Fund in its second announcement. The fund is worth $225 million. It has been designed to offer long-term support to developers who will build their applications on the network.

Founders will also be able to avail the benefits under the Secret Ecosystem Fund of $225 million. The goal is to ensure that everyone receives support while taking their products in the market.

Developers and founders will be able to achieve self-sustainability under the Secret Ecosystem Fund.

The Secret Network Fund features all the partners. It is led by SCRT Labs, which is the team behind supporting Secret Network.

Under the Secret Ecosystem Fund, the network will deploy capital and offer experience, guidance, & mentorship to developers while facilitating connections between all the stakeholders of the ecosystem.

Third Announcement

The third announcement made by Secret Network is related to the revelation of the Secret Accelerator Pool. It is valued to be around $175 million, and it will be managed by SCRT Labs.

The primary purpose of the pool is to offer support across Secret DeFi, NFTs, metaverse, and gaming application verticals on the network.

Secret Accelerator Pool will serve as a source of non-dilutive stage funding. The funding will be made available in the grants, some of which have already been approved for almost a dozen initiatives.

Developers will be able to achieve global expansion of their applications courtesy of the grants authorized under the pool program.

Secret Monero Bridge and Secret NFT reference implementation are some of the initiatives that have been approved under the Secret Accelerator Pool.

The announcement of three major initiatives by Secret Network has laid a roadmap for the bright future of privacy in Web3. Know how the future looks for Secret with this Secret price prediction.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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