'Secret Network Announces $400 Million Ecosystem Fund' by crypto_clarke cryptocurrency blockchain
With these partners, Secret Network will deploy capital across its ecosystem and provide ongoing mentorship, guidance, and substantial experience.The Secret Accelerator Pool is currently valued at over $175M. The Accelerator Pool is managed by SCRT Labs and funded in SCRT. The Secret ecosystem will use the Accelerator to support various growth initiatives targeting user and TVL growth.
The Accelerator Pool is also a source of non-dilutive early-stage funding in a grant to teams making network-level improvements, ecosystem tooling, and building applications. The fund is intended to be a foundation for developers and creators before turning to Secret Ecosystem Fund. Grants have already been approved for dozens of initiatives such as developers frameworks like Griptape and Polar, the Secret Monero Bridge, and theSecret Network claims to be the first blockchain with data privacy by default. It allows builders to create and use privacy-preserving and permissionless applications, a functionality that secures applications, protects users, and unlocks tons of new use cases for Web 3.
Typical smart contract blockchains, like Ethereum, are public by default. Therefore, the public can view all the data in a smart contract. Secret Network comes with data privacy for sensitive information as it supports encrypted state for smart contracts, encrypted outputs, and encrypted inputs.Apps on this platform are built on Secret smart contracts that are privacy-preserving and powerful.
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