Secret Network Ecosystem Update: July 2021
July saw the launch of the world's first truly private on-chain voting application (governing SecretSwap), a successful IBC signaling proposal, the launch of the Secret Code Podcast, and much more!
Greetings Secret Agents!
Thanks for being here. Your mission, should you choose to accept it, is to read the following post and learn what has been going down in the Secret ecosystem lately 🤫
Our successful IBC signaling proposal. The launch of the world's first private blockchain voting app to govern SecretSwap. Multiple episodes of the Secret Code Podcast. Grant funding for Griptape, a front-end Secret App Development Framework. Terra Project Highlight of Secret Network. The launch of Secret Garden. Slezi Satoshi interview with Tor Bair. A presentation on Privacy in Cosmos. Fardels development update. Secret Stable Pools. A fundamental analysis of Secret Network from Newscrypto.io.
And so much more.
Our push to bring privacy to all public blockchains is increasingly becoming a reality. See what's been done - and how you can get involved!
Secret Network IBC Upgrade Proposal
One of the most requested features in the last several months has been integrating Secret Network with the rest of the Cosmos ecosystem through IBC. The time has finally come as an ecosystem to shift the focus of Secret Network to upgrading our network to the latest Cosmos-SDK version!
The current Secret Network mainnet is based on Cosmos-sdk v0.38. For the IBC Stargate upgrade, Secret Network will be targeting v0.43. This represents a significant leap forward in terms of protocol level improvements and capabilities.
There are three key milestones that will need to be achieved in the process of releasing the next version of Secret Network:
(1) Essential Stargate Updates
(2) IBC Integration
(3) Additional Features
The initial forum post outlining these milestones by the Enigma MPC team can be read here:
Proposal 44 (a signaling upgrade) was submitted by Enigma on July 18th to gather community feedback and voting on whether the IBC initiative was worth pursuing. Proposal 44 passed successfully with resounding community support (over 60,000,000 SCRT voted).
SEFI Governance and Private Voting
In July, SecretSwap launched the world's first truly private voting application on blockchain, secured by Secret Network - the data privacy platform for Web3.
This application introduces on-chain governance for SecretSwap, a front-running resistant cross-chain and privacy-first AMM with over $275M in historical volume. SecretSwap is built on Secret Network, leveraging encrypted "secret" smart contracts to ensure security and privacy. $SEFI is a governance token for Secret DeFi and SecretSwap, and it's also a Secret Token native to Secret Network that provides privacy by default to its holders.
Now $SEFI holders can directly participate in governance with encrypted voting for SEFI funding and text proposals!
The integration of this functionality into SecretSwap empowers the $SEFI community supporting the Secret DeFi ecosystem to engage with a unique governance system that is private by default, helping secure the integrity and sovereignty of SecretSwap's decentralized governance. Secret voting combined with decentralized governance is uncharted territory. This is a trailblazing opportunity for the Secret DeFi community that the blockchain world will surely be watching.
Read the full SEFI Governance Tutorial written by the Secret Network education committee to start using SEFI Governance now!
SEFI Staking Migration
Due to the complexities of introducing governance into SecretSwap and the staking module, a new SEFI staking pool has opened that implements both staking rewards and governance functionality. This staking pool was opened on July 27th, 2021, and the rewards allocated for the original SEFI staking contract were transferred to the governance-based staking pool. SEFI stakers that do not move their funds to this new governance based staking pool will be losing out on potential SEFI staking rewards - so migrate now if you haven't!
Only $SEFI stakers need to migrate to the new contract - there is no impact to existing LPs for SecretSwap pools.
Migrate here: app.secretswap.io/migration
Come use the world’s first decentralized private voting application - built on Secret Network:
Join the SecretSwap communities:
Secret Discord: https://chat.scrt.network
Read the full $SEFI Governance blog post and learn how you can get involved and start using SecretSwap today!
Grant #3: Griptape
With the rapidly expanding development of the application layer of Secret Network, there has emerged a need for better developer tools, including simplifying SecretJS integration with Secret Contracts.
With all the various tools in our community surrounding contract development, there are a million different directions to take front-end and user interface development with Secret Contracts. The lack of a dedicated framework introduces additional complexity when there is a significant amount of possible customization and design direction as it pertains to viewing key management, Keplr interactions, and secret contract queries.
Enter Griptape - the latest recipient of a Secret Grant!
To quote one of the core creators of Griptape: “It just makes things easier.”
Best of all, you can start developing with Griptape now!
If you've been waiting to build or deploy your first Secret App, now is the best time to get started.
Secret Code Podcast
The Secret Code Podcast is dedicated to bringing the stories of Secret Network and its various contributors, developers, and users to the Secret community. Launched in July as a SNAC funded by the Secret Foundation, the Secret Code Podcast releases episodes every Sunday with guests from all over the Secret Network ecosystem.
In the first introductory episode, Paul and Eric introduce themselves and the Secret Code Podcast. Eric gives his "no-coiner pitch" for Secret Network, and Paul talks on the importance of privacy. Lastly, they enumerate their goals for the Secret Network, its community, and the Secret Code Podcast.
In episode #1, Iowascero joins the Secret Code Podcast and discusses the SecretSwap committee structure, SecretSwap.io, and the significance of the SEFI governance rollout.
In episode #2, Brendan Kittredge joined the Secret Code Podcast to explain the Secret Agent program, and how to get involved and paid as a community member. In this episode, there is also discussion of a potential launchpad being built on Secret Network (Secret Starter).
If you want to become a Secret Agent recruit and start contributing to the network while receiving rewards as well as exclusive opportunities and access, you can visit agents.scrt.network to learn more!
Fardels Grant Update
Fardels is the world's first privacy-preserving decentralized social network built on blockchain for sharing items of small value. Fardels has been in the works for multiple months now - come learn more about the significant progress that is being made to this amazing Secret Application!
Secret Garden is a new community-built tool empowering users to create, manage, and explore Secret Tokens on Secret Network. With options to mint, create, and burn SNIP-20 tokens with this easy to use Secret Application, what are you waiting for?
Terra's Project Spotlight of Secret Network
In the newest issue of the Terra Project Spotlight, Brian Curran covers Secret Network with a special edition highlighting the partnership between the Tera and Secret ecosystems. Specifically, the joint announcement of the Secret Terra Bridge, a bridge to Secret built on Shuttle (separate from IBC) will enable seamless porting of Terra and Secret assets between the two chains. The bridge is currently on testnet and will unlock cross-chain, programmable privacy for Terra assets on Secret Network.
Read the full Project Highlight:
Secret Stable Pools Ideation
One of the potential secret contract application is to create a Curve-like AMM on Secret Network. As bridges on Secret Network are multiplying, stablecoin pools such as $DAI $UST $BUSD $USTD $USDC (or even $ETH against $BEP20-ETH) are exciting opportunities to earn safer yields. As such, a Curve like equivalent could garner a significant amount of usage and utilization.
Secret Network Monthly International Growth Report #4
July 1st to August 1st has proved to be the largest month of growth to date for the International Growth Committee. Over the past month, the international communities of Secret Network have seen 50% growth! The largest of these communities being Iran, the Philippines, and Russia at 636, 279, 314 respectively.
With 11 secret agents earning micro-grants representing multiple global communities, the Secret Network International growth metrics are rapidly expanding as a result of these efforts. July itself has seen 751 new telegram members represented between the existing international communities! With a goal of onboarding 14 more global agents (to reach a total of 25) there remains a compelling amount of growth to be had in all of the various telegram communities!
Specifically, the global agent program is looking for global agents passionate about growing a Japanese channel, Korean channel, and Indonesian channel!
With over 14 monthly micro-grants still available, come join today!
Additionally, check out the Secret Agent program!
Secret Ethereum Open Source Code - Citadel
Citadel.One have completed the 3rd milestone of the Secret Network Community Grant by open sourcing all developments!
View the code and read the wiki on the Citadel.One GitHub:
Privacy in Cosmos
Assaf Morami of Secret Network had the privilege to present on privacy in Cosmos, including: what it entails, why it's important, a brief examination of the application layer, and how Secret Network is playing a key role in Web 3.
Newscrypto.io Fundamental Analysis
Part of an ongoing series of articles and research by Newscrypto.io involves a fundamental analysis report of Secret Network. These research reports are meant to inform the average investor about the potential investment opportunity, as well as a deep analysis of underlying network value and traffic.
Read the full analysis here.
"SecretSwap works similarly to Uniswap or SushiSwap but also has privacy features, including resistance to “front-running,” which is a bot attack (or trading) strategy on the Ethereum network in which a bot gets a transaction first in line in the execution queue, right before a known future transaction occurs. The launch of the governance tool means that holders of SecretSwap’s SEFI token can vote in a system that is private by default."
- Benjamin Powers (CoinDesk)
Tor Bair X СЛЕЗЫ САТОШИ
In this both English and Russian interview with СЛЕЗЫ САТОШИ (Slezi Satoshi), Tor Bair of the Secret Foundation discusses Secret Network and the most exciting development in progress. Specifically, the reason behind "Why Secret Network" and "Why Cosmos" are particularly elaborated on in this excellent interview you won't want to miss.
Altcoinbuzz: Secret Network X Terra
"The partnership is aimed at providing programmable privacy and decentralized finance (DeFi) opportunities for Terra assets. Secret Network (SCRT) announced the partnership via an official blog post. Disclosing that both platforms aim to create opportunities for liquidity providers, their assets, and privacy-focused users." -Rachael Orianele
CoinTelegraph: Privacy-preserving Computation On Blockchains Could Prevent Breaches
While articles such as this ideate a world where privacy-preserving computations could solve a range of problems in healthcare and beyond, the amazing news is that Secret Contracts are live and implementable today. Our drive as a community to garner attention surrounding secret contracts continues to grow as the blockchain domain figures out the absolute importance and need for privacy-preserving computations.
Become a Secret Agent
There is no more consequential way to get involved with Secret Network than to become a Secret Agent and join a community committee. Committees are made up of experts and enthusiasts working together to build our network and ecosystem by executing Secret Missions! From Awareness, to Development, to Education, to Design, there's a committee to fit every community member.
Committees meet weekly and help drive Secret-focused projects to completion. Secret Agents can receive funding for their committee work and direct support from all the active teams in our ecosystem, including Secret Foundation.
If you’re interested in becoming a Secret Agent and joining any of the committees listed below, please fill out this form!
Here are a couple of committee highlights:
Education committee completed SEFI Governance written tutorials, and have helped push an overhaul on the scrt.network learn page.
Awareness committee amplified the launch of SEFI Governance and our collaborations with the Terra community.
International Growth committee saw 50% growth in international telegram channels in June - onboarding 13 global agents.
Secret Committee Charters
There are currently 9 complete committee charters available:
Secret Forum July Highlights
What a summary! There was almost too much progress to document. But as exciting as July was, August promises to bring even more growth to the Secret ecosystem with the rapid development of more DeFi applications and privacy-preserving Secret Apps.
With the successful passing of the IBC integration signal proposal, the launch of SEFI governance, and with more amazing Secret Grants on the way, we've seen massive growth in just a short time. So what other announcements and collaborations lie in store? You’ll have to wait and see what secrets August brings…
Onwards and upwards!
To discuss Secret Network and Secret Apps, visit our community channels: