Share this article
Privacy-Focused Blockchain Secret Network Announces $400M in Funding
The project includes a $225 million ecosystem fund and $175 million accelerator pool.
By Brandy Betz
Updated May 11, 2023, 5:55 p.m. Published Jan 19, 2022, 7:15 p.m.
Data privacy-focused blockchain Secret Network has announced a new $225 million ecosystem fund and a $175 million accelerator pool, building on the recently revealed initiative called Shockwave that's aimed at making the network a key part of Web 3.
- The Secret ecosystem fund will provide long-term financial and strategic support to developers and founders building on the network, SCRT Labs, the core development team behind the network, said in a blog post on Wednesday.
- A long list of investment partners, including Alameda Research, Arrington Capital, CoinFund and DeFiance Capital, chipped in.
- “The primary goal of the ecosystem fund is to ensure that every individual, team and organization building on Secret has a clear path to self-sustainability and support in bringing their products to market,” the Secret Network team wrote.
- The accelerator pool is funded in SCRT, the network’s native token, and is primarily managed by SCRT Labs. The pool will support decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, metaverse and other kinds of applications on the network.
- SCRT was down about 3% on the day but started perking up around the time of the announcement, according to CoinGecko data.
- Secret Network also announced that a number of investment firms had recently acquired “substantial” SCRT token positions, including Alameda, CoinFund, DeFiance and HashKey.
- "DeFiance is excited to support Secret Network, the only privacy-by-default smart contract blockchain that enables groundbreaking technologies like front-run resistant DEXes, Secret NFTs and more,” Arthur Cheong, founding partner at DeFiance Capital, said in the post.
- Secret won a bit of buzz for its NFT protocol when a project from director Quentin Tarantino ran into legal trouble.
Read more: Quentin Tarantino to Release ‘Pulp Fiction’ NFTs, Flouting Miramax Lawsuit
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
UPDATE (Jan. 19, 19:26 UTC): Adds SCRT price action.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto’s Machine Learning ‘iPhone Moment’ Comes Closer as AI Agents Trade the Market
Recall Labs, a firm that has run 20 or so AI trading arenas, pitted foundational large language models (LLMs) against customized trading agents.
What to know:
- Specially customized AI trading tools outperformed LLMs such as GPT-5, DeepSeek and Gemini Pro.
- Rather than simply using profit and loss to measure success, AI agents balance risk and reward when faced with a multitude of market conditions.
- As in TradFi, hedge funds and family offices with the resources to invest in the development of custom AI trading tools will be first to reap the rewards.
Top Stories
