Secret Eco-Privacy DeFi Project Sienna Network Closes $11.2 Million in Financing

Key blockchain players Arrington Capital and Blocktower Capital have led an investment in privacy public chain Secret Network.

Secret Eco-Privacy DeFi Project Sienna Network Closes .2 Million in Financing

Last week, key blockchain players Arrington Capital and Blocktower Capital led an investment in privacy public chain Secret Network, which heralds the rise of privacy-based financial blockchain projects that are critical to the future of decentralized finance, TechCrunch reported on May 10. Privacy is a necessary component of “normal” financial life, so we expect it to manifest itself in the blockchain space.

Sienna Network, the blockchain Secret Network eco-privacy DeFi project, announced that it has raised $11.2 million in funding from institutional investors and its public backers. Among them, NGC, Inclusion Capital, Lotus Capital, FBG, Skyvision Capital and others contributed $10 million through a token sale. DaoMaker and Polkastarter Exchange participated with $1.2 million.

Sienna Network is a privacy-first and cross-chain decentralized financial protocol, created based on Secret Network, that allows asset holders to switch to privacy-oriented tokens.

Sienna is one of a growing number of blockchain startups working to solve the industry-wide “front-end operations” problem. Hackers are hijacking future transactions on the DeFi public chain on the front end.

Monty Munford, Chief Evangelist and core contributor of Sienna Network, said

Benefiting from the inherent privacy design of the blockchain, Sienna provides users with a friendly way to access the blockchain with a privacy zone. Sienna does not store any login information, wallet data, transaction data or anything else. It does not even track its website or provide any information to any third party.
The early trading scam works as follows: you can advance your trades on Ether simply by paying a higher transaction fee. This is close to trumping a trade in real stock trading (trumping a trade), only because you pay a higher fee to the broker. In other words, if this continues to happen, it will be a disaster and the entire infrastructure of decentralized finance will be threatened.

In his comments, Tor Bair, CEO of Secret Network, said

We believe that Sienna will be a key pillar of Secret DeFi, driving more secure mass adoption of the decentralized financial ecosystem.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/secret-eco-privacy-defi-project-sienna-network-closes-11-2-million-in-financing/
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