BREAKING NEWS: Iconium Joins The $225 Million Secret Ecosystem Fund

20 Jan , 2022 Iconium

BREAKING NEWS:                                                              Iconium Joins The $225 Million Secret Ecosystem Fund

Privacy is a fundamental human right

We all know that today’s centralized internet (aka Web2) is affected by a huge flaw, as our sensitive data flows in the hands of a few giants, who hold control of it and use it to their own advantage.

But Web3 is a quite different thing and we firmly believe that the process of building and globally spreading this new decentralized internet is going to work out only if the crucial role played by privacy is recognized and protected.

Over the past twelve months we have seen an impressive proliferation of layer 1 chains. Yet, in today’s landscape Secret Network remains the first and only chain offering privacy-preserving smart contracts.

This is why we are excited to announce that Iconium, a $SCRT long-time holder, is taking part in their new Secret Ecosystem Fund!

The Secret Ecosystem Fund

The Secret Ecosystem Fund is a new initiative stewarded by Secret Foundation and SCRT Labs. Its aim is to support and accelerate the application ecosystem on Secret Network, by providing capital for early-stage dApps and thereby attracting the most talented application developers.

For this purpose, the Fund has raised a total commitment of $225 millions from 25 organizations, to be added to the $175 millions of the Accelerator Pool. The latter will be a source of non-dilutive early stage funding in the form of grants, meant to be used as an initial foundation for developers before they turn to the Secret Ecosystem Fund and work towards global growth.

This action is part of a wider strategic plan that Secret Network has outlined for 2022, whose main growth phase is known as Shockwave. Let’s take a closer look.

Secret Network’s strategic goals for 2022

2021 was a milestone year for Secret Network: we witnessed powerful mainnet upgrades, while the network set new all-time highs in terms of new active users, adoption, market capitalization and TVL.

The community underwent impressive growth, new partnerships were established and dozens of applications came to life.

Just to give a better idea of the order of magnitude, as of today the TVL amounts to $124 millions, average daily transactions stand at 9k and cumulative unique addresses amount to more than 76k.

Several simultaneous initiatives have been planned for 2022 to affirm Secret Network as a critical pillar and privacy hub for Web3 and they have been unveiled under the name of Shockwave, indicating their pervasive scope within the ecosystem.

About Iconium

Since 2018 we focus on supporting amazing teams to disrupt blockchain, DeFi, Web3 and Metaverse, establishing ourselves as pioneers in the blockchain global revolution.

We have been supporting Secret Network since 2018. This represents a fantastic opportunity to leverage our expertise and long-term vision within the Secret Network ecosystem.

We can’t wait to get started!

Iconium Team

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