Secret Network is a blockchain protocol that enables decentralized applications to perform encrypted computations. Secret contracts can take encrypted inputs and produce encrypted outputs, without exposing any data while it is in-use.

Secret Network was built with the Cosmos SDK using Tendermint for consensus, and is governed by SCRT token holders.

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Market Cap
$116,811,159
Price
$1.6758
Rewards
Distributed automatically each block
Slashing
5% for double signing and 0.01% for downtime
Inflation
If over 67% of the supply is staked, inflation will begin decreasing from 15% to 7%
Unbonding
21 day unbonding period
Compounding
Re-delegation required

Optimizing Staking With Figment

Figment offers peace of mind to its customers and provides the most complete staking experience in the industry

EXPERIENCED & TRUSTED

Figment is a venture funded, registered Canadian company based in Toronto. Canada offers stability, rule of law and clear crypto regulation.

Serving the world’s largest SCRT holders.

30+ years of experience successfully scaling internet infrastructure companies.

FEATURES & BENEFITS

Our Commission rate is 10%.

Active participant in the Secret ecosystem.

Third-party custody solutions are available through our institutional partners.

SECURITY & SAFETY

The world’s most advanced physical IDC + multi-cloud staking infrastructure.

You maintain custody of your SCRT at all times.

Protected via industry-leading Staking & Delegation agreement.

Looking to stake over 100,000 SCRT?

Get in touch with our team to discuss Prime customers advantages and unlock the full Figment experience

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Staking Guide & Instructions

Stake your SCRT tokens in a few clicks by following these steps:

The easiest way to stake SCRT is via Keplr.

  1. Head to https://wallet.keplr.app/#/secret/stake.
  2. Find Figment in the Secret validator set and click the “manage” button.
  3. Click “delegate”.
  4. Enter the amount you want to delegate. Remember to keep some SCRT available to pay for transaction fees.
  5. Click “delegate” and then click “approve” to approve the transaction.


Figment's Validator Addresses

secretvaloper1mp97ajv30nrd3zmzmuyu926y4dkkh0xndrss2l

Need more detailed instructions?

See full guide

Secret Network FAQ

Where can I explore the network and create a Secret Network wallet?

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When are staking rewards enabled? When are transfers enabled?

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Staking rewards and transfers are both currently enabled.

What is the name of the asset being staked?

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Secret Network's native token, SCRT, is used to stake and to participate in on-chain governance.

Which type(s) and what rate of rewards can I expect?

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Stakers are earning newly-issued SCRT tokens at a yearly rate of 29%  as of Nov 26, 2020.

Do I maintain custody of my SCRT tokens? Who or what controls my staked SCRT?

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You can self-custody your Secret Network SCRT tokens, ideally using a Ledger hardware wallet. Here are instructions for using your Ledger wallet with Secret.

Figment has partnerships with a number of top-in-class custodians: support@figment.io

The Secret Network protocol takes control of your SCRT tokens while you are staking. If you unbond your tokens, this process will take 21 days before the protocol returns your tokens to you. While your SCRT are staked, you may participate in on-chain governance by voting on different proposals.

How long does it take to unstake?

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From the moment you initiate the unbonding process, it takes 21 days to unstake. During this time you will not earn rewards. When the process is complete, you can transfer/trade your SCRT tokens.

Can my staked SCRT be slashed (seized or destroyed)?

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Yes, a portion of your staked SCRT can be destroyed. There are two ways this can happen:

  1. If you delegate to a validator that is offline for over 4 consecutive hours (assuming 6s block times), you will lose 0.01% of the tokens you have delegated to that validator.
  2. If you delegate to a validator that signs the same block twice with the same key, you will lose 5% of the tokens you have delegated to that validator.

Can I lose potential staking rewards?

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Yes. If your the validator you delegate to is offline for 4+ consecutive hours, the validator will be jailed, during which time the delegators will not earn rewards. After a one-hour period, the validator operator must submit a transaction to resume operations in order for delegators to resume earning rewards.

What is the rate of new issuance (aka "annual inflation") for SCRT? How does the token supply change?

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Secret Network is reporting 15% inflation, but the average blocktime can change the effective new issuance rate.

As of Nov 26, 2020, Secret Network is effectively issuing new tokens at an annual rate of 14.97% of the total supply. 88% of the new issuance is distributed to stakers, 2% is held in the community pool which may be distributed arbitrarily via on-chain governance proposal, and there's additional 10% distribution to a foundation tax.

Under 67% of the token supply is staked, so the reported inflation (aka new issuance rate) has increased to reach the maximum of 15%. If over 67% of the supply is staked, the inflation will begin to decrease before bottoming out at 7%.

How are decisions about the Secret Network made and executed?

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The Secret Network uses on-chain governance that is nearly identical to that of the Cosmos Hub. Proposals are created to either coordinate together with a signalling proposal, spend funds from the community pool, or to change various network parameters (economic or otherwise).

1000 SCRT must be deposited as a bond for a Secret Network governance proposal to be voted upon. Voting lasts for 7 days. 33.4% of staked SCRT must participate in order for the proposal to be valid. A simple majority is then required for the proposal to pass, but 33.4% of the voting power can veto the proposal.

You can watch proposal activity here: https://explorer.cashmaney.com/proposals

Governance discussions take place on the Secret Network forum: https://forum.scrt.network

Where can I learn more about Secret Network?

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