Secret Network Announced $400 Million Ecosystem Fund

TokenInsight news, Secret Network, the privacy public chain, announced the launch of its $400 million Ecosystem Fund, which includes a new $225 million Ecosystem Fund and a $175 million Accelerator Fund, backed by 25 existing investors and partners. The ecosystem fund will be used to expand the project’s application layer, network infrastructure, and tooling. The accelerator pool will provide non-dilutive capital, grants and incentives via its native token SCRT to quickly expand user adoption. The ecosystem fund is said to be led by SCRT Labs, which includes DeFiance Capital, Alameda Research and others. Secret Network is a decentralized ecosystem that utilizes trusted execution environments to enable private, secure computation over encrypted data. The ecosystem has four components: Secret Tokens, Secret Bridges, Secret Finance and Secret NFTs.