Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Automata Network has announced the public launch of its ATA token on the world’s largest centralized exchange, Binance. Starting June 2, users can stake their BNB, DOT, or BUSD for rewards in ATA via Binance Launchpool, and on June 7 tokens will be available for general trade and sale.
Automata offers privacy services for dApps on Ethereum and Polkadot, and the decentralized service protocol has already raised 2.4M USD in a round of private seed fundraising from the likes of KR1, Jump Trading, and IOSG ventures.
Industry Support for Automata’s Privacy Initiative
Automata has seen support flood in from many influential industry voices. These entities recognize the importance of a private and secure environment where dApps can flourish and Web3 continues its steady growth.
In a statement, Keld van Schreven, Co-Founder and Managing Director of KR1, said, “From the team’s technical progress to partnerships made one after the other with the industry’s leading and most active projects, it was apparent that Automata had both the vision and the ability to execute it right on the mark.”
Van Schreven went on to say, “Our support of Automata Network speaks to our commitment to the sustainable development of a privacy-focused Web3 economy, and we look forward to seeing more great work from the team.”
In addition to these glowing words, Jocy Lin, a founding partner at IOSG Ventures, commented that, “It is quickly becoming clear how important privacy is for every decentralized application building on the Web3 stack, and there is no doubt in our mind that Automata is emerging as a market leader in the space. With each use case that the team has rolled out in succession, we’ve been immediately impressed with both the eloquence and simplicity of their solutions.”
Big Push From Binance Launchpool Listing
Since its debut in September 2020, Binance Lauchpool has helped launch over 45 individual projects. In this period of time, over 529M USD in tokens have been distributed to over 400,000 users. The Launchpool has also reached over 5.7B USD in total value locked.
Automata’s ATA token distribution through Binance’s Launchpool means the up and coming privacy protocol will receive exposure to one of the largest user bases in crypto. A token generation event led by Binance’s Launchpool nearly guarantees a breakneck speed towards asset adoption and token liquidity.
With the recent spikes in price for both BNB and DOT, one could presume that users are stocking up to stake these assets in return for as much ATA as they can farm.
Binance has shown additional support for ATA by releasing a research report that provides details any investor would love to get their hands on. The report addresses how Automata works, tokenomics, and an overview of Automata’s community presence. In addition, users can find links to a collection of recent news articles with positive news about Automata’s progress and future.
How to Farm Your Own Bag of ATA
At the time of writing, Binance’s users can already farm for ATA via staking in three pools: BNB, DOT, and BUSD. All users have to do is log into their accounts and go to the Launchpad page, which can be found here. From this page, users can find the three pools listed near the top of their screens, and clicking on “Stake Now” will reveal more details about staking.
Currently, over 1.8B USD has been staked in the BUSD pool, and this signals a serious demand for ATA. As more users continue to stake their assets for ATA, the yield APY will decrease, meaning that anyone who wants to increase their farming potential should start staking as soon as possible. Staking will end after a 30day period.