Secret Network Ecosystem Update: June 2021
June saw the launch of the Secret BSC bridge on mainnet, the announcement of the Secret Terra Bridge, the release of $CSHBK on SecretSwap, 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 🤫
Announcement of the Secret Terra Bridge on testnet. The mainnet launch of the Secret Binance Smart Chain Bridge. The release of $CSHBK on SecretSwap. BitMart listing. The start of the SecretSwap Development Fund. Newscrypto.io and Secret Network partnership. Tor Bair of the Secret Foundation on the Sommelier AMA with Zaki Manian. Altcoinbuzz BSC media coverage. A Secret NFT Developer Workshop.
And so much more.
Our push to bring privacy to public blockchains is increasingly becoming a reality. See what’s been done - and how you can get involved!
Secret Terra Bridge
Terra and Secret have long shared a vision for unlocking the true power and value of decentralized finance by empowering communities globally with cutting edge technology in both the privacy and DeFi domain. Both Secret and Terra are built with CosmWasm, smart contracts on both networks use Rust, and both are part of the larger Cosmos ecosystem. It is these commonalities that have led to the current mutually beneficial teamwork between Secret and Terra that has lead to the creation of the Secret Terra Bridge (currently on testnet).
The Secret Terra Bridge testnet joins a list of Secret bridges that have been built or are in the process of getting fully launched. Since December 2020, Secret Network has launched multiple bridges on both mainnet and testnet: the Secret Ethereum Bridge, Binance Smart Chain, Monero, and Plasm. Partnering with Terra on the creation of the Secret Terra Bridge will allow holders of certain Terra assets to create "secret," privacy-preserving versions of their assets as Secret Tokens. Secret Tokens are a powerful concept - they're programmable like ERC-20s and usable in applications, but they remain private by default like Monero and similar coins. They can represent any asset, or they can be fully native to Secret Network.
What Happens Now?
Secret’s initial bridge integration will focus on support for UST and Mirror assets while our teams explore deeper integrations across the Terra and Secret ecosystems. Here's what users can expect initially:
- Programmable privacy for native Terra assets
- Support for Terra assets as secret tokens within front-running resistant Secret DeFi (i.e. SecretSwap)
- Direct access to IBC enabled coins after Terra fully integrates IBC
Secret Binance Smart Chain Bridge is Live on Mainnet!
The Secret BSC Bridge is now LIVE on mainnet, doubling the number of supported Secret Tokens! This unlocks transactional privacy and programmable privacy for BSC assets while enabling holders to take advantage of Secret DeFi opportunities.
You can now view and interact with the Secret Binance Smart Chain Bridge at:
Here is the list of initial supported BEP20 tokens:
$ETH, $USDT, $BNB, $ADA, $XRP, $DOGE, $DOT, $USDC, $BCH, $LTC, $LINK, $BUSD, $TRX, $CAKE, $BAKE, $XVS, $LINA, $FINE, $BUNNY
The following yield opportunities across Secret DeFi are immediately accessible to the BSC community:
- Earn Cashback ($CHSBK) for swapping and exchanging with other Secret Tokens
- Provide liquidity for Secret Token/SCRT Pairs (currently ~90% APY)
- Stake $SEFI, governance Secret Token for SecretSwap (currently ~72% APY)
For now, check out the earn pools at: https://app.secretswap.io/earn
Want to use the BSC bridge? Use the following helpful video tutorial!
Read the blog post outlining the launch of the Secret BSC bridge on mainnet.
Since the initial launch of SecretSwap, developers have been hard at work creating the next big feature for SecretSwap: an incentivized cashback token called $CSHBK that is earned via trading on SecretSwap which can then be burned to receive $SEFI. The purpose of the $CSHBK token is to act as a mechanism to incentivize an increase in trading and volume on SecretSwap. The more you trade, the more $CSHBK you earn! The amount of $CSHBK received for trading on SecretSwap is proportional to the volume of the swap.
Cashback is live at: https://app.secretswap.io/cashback
SecretSwap Development Fund
In addition to the launch of $CSHBK, the SecretSwap Development Fund (outlined at the launch of $SEFI and SecretSwap) has now begun to accumulate $SEFI. This pool of funds will be controlled by $SEFI governance at the launch of the SecretSwap governance module, which is currently actively under development. The fund can be used for liquidity mining campaigns, marketing, development of additional SecretSwap features, expansion of the Secret Finance ecosystem, and a range of other opportunities!
Currently the development fund is accruing a $SEFI balance at the following Secret address:
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Secret NFTs Update
Non-fungible tokens have been a focus for the Secret ecosystem from the very beginning. SNIP-20s (fungible Secret Tokens) already power the rapidly growing Secret DeFi ecosystem, allowing users to turn assets from other blockchains into privacy-preserving versions that can be used across Secret's universe of composable, front-running resistant DeFi applications.
The importance of programmable privacy for NFTs is just as strong as - if not stronger than - the importance of programmable privacy for DeFi. The improvements to usability and security are massive, benefitting both users and creators. Similarly to how SNIP-20s unlocked new types of DeFi applications built on and secured by Secret Network (such as SecretSwap), Secret NFTs unlock new and exciting possibilities for Secret Apps that will leverage this powerful primitive.
Secret NFT Developer Workshop
On June 10th, Florian Uhde (creator of Secret Heroes & Secret Manufacturer) teaches "Zero to your First secretNFT". Florian is a key contributor to Figment Learn - a learning pathway designed to help new developers learn how to code secret contracts.
Learn about the design and structure of secretNFTs, and how you can begin developing them.
Deploy your own secret NFT today!
Secret Heroes V2 Grant Approved
Secret Heroes launched early May this year as the first fully on-chain game on Secret Network. Secret Heroes had a phenomenal launch in regards of player count and gas usage (only bested by the $SEFI launch so far).
The aim of this approved grant is twofold. First, it will allow the team to keep supporting the game in its current state. This comes down to fix cost for running the frontend and backend to connect to the network. Second, this grant includes a roadmap for Secret Heroes as a game. This includes additional interesting game mechanics, opens the ecosystem to other game developers, and adds utility to Secret Heroes NFTs.
New mechanics include The Forge, Tournament of Champions, Golden Bazaar, improved user-guidance, and more!
Read more in the grant proposal linked below.
SecretPY Grant Approved
Currently, Secret Network does not have a python interface available for developers. Having a python interface makes data workflow easier and will help attract a wider range of developers to Secret Network. The current workaround with not having a python library is to use a combination of REST API requests + secretcli + secretJS subprocesses in Python. This is hard to maintain, has poor error handling, and leads to convoluted workflows. The Secret Network developer community looks forward to the full release and development of SecretPY!
Secret Contract Code Verification System
Currently, there is no place where developers can confidently verify the source code of a repo is corresponding to a live secret contract address. Additionally, it has been difficult for Secret Contract users to find the source code of the contract they are interacting with. While a good actor in the secret contract deployment process could provide a link to the source embedded in the secret contract code, this does not solve the problem that a bad actor could put in any link which might not correspond to the actual deployed secret contract..
- Docker image that will verify contract code.
Open source web app that will:
- Show contracts list, with info about verification status.
- Show contract source code if it is verified.
- Give opportunity to provide a source code in order to verify.
The grant to create the Secret Contract Code Verification was approved in May. After some excellent development work, the Secret Contract Code Verification System is officially live at:
Read the full (now completed) grant proposal.
Tor Bair, CEO of the Secret Foundation was the first guest ever on Staking Rewards Staking Mondays - a podcast focused on sharing specific knowledge from staking industry leaders. Specifically, this week was focused on Secret Network.
Secret Network On Terra Bites
Terra Bites featured a groundbreaking cross-community interview with Tor Bair from Secret Foundation (SCRT) onto Terra Bites to talk about recent and upcoming integrations between the two communities and beyond.
This episode featured the following topics:
🌉 Bridging UST and other Terra Money assets to Secret DeFi
⚛️ The Cosmos internet of blockchains and the exploding network effects resulting
🔒 Why privacy features (optional transparency) are so important to fintech and beyond
Secret Network X Newscryptio.io
NewsCrypto was proud to announce a partnership with Secret Network, the first protocol to enable not just transactional privacy (i.e. having your token balances and transactions hidden), but also computational privacy by default (i.e. executing smart contracts in an encrypted computational environment, but with all the verifiability that comes with blockchains).
Newscrypto will be covering Secret Network in a new and updated Fundamental Analysis report about Secret Network. Additionally, Newscrypto will be adding a section in the upcoming NewsCrypto Academy 3.0 dedicated to explaining Secret Network and advantages of computational privacy for DeFi and secret dApps.
Sommelier Liquidity AMA
Curious about why you should be a liquidity provider on Secret Network?🤔
Come learn more about Secret, Cosmos Chains, Bridges, and DeFi on the Sommelier AMA with the CEO of the Secret Foundation (Tor Bair) and the Co-Founder of Iqlusion and Sommelier Finance (Zaki Manian) - hosted by Taariq Lewis!
Topics include cross-chain liquidity providing, multi-chain yield and opportunities, and liquidity provider behavior during the market contraction.
Secret Network X Sentinel AMA
In this AMA with Secret Network and Sentinel, learn about the underlying tech-stack of Sentinel, what the Secret Network ecosystem is working on building, and how privacy is going to be playing a key role in Web 3.
Secret BSC Bridge Altcoin Buzz Coverage
The Secret Network has recently announced the launch of their Secret Binance Smart Chain Bridge that will allow the supporting BEP-20 token holder to convert their tokens into corresponding Secret tokens. The BSC community will also be able to use their Secret tokens in Secret Network’s Defi ecosystem, which will allow them to swap any Secret tokens and provide liquidity. -Altcoin Buzz
June saw two different proposals (38, 40) pass on chain. These proposals included funding for the Education Committee as well as the Awareness Committee.
Want to learn more about Secret Network Governance? Come check out the Secret Network Governance on the Secret Network Forums to learn more!
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 BSC written tutorials, and have helped push an overhaul on the scrt.network learn page.
Awareness committee ran the NFT Bible contest that saw 10+ submissions of art (future NFTs?). Supported the Terra and BSC bridge announcements with success on reaching multiple KOLs.
International Growth committee saw 27% growth in international telegram channels in June - onboarding 9 global agents.
Design committee helped create graphics for the Secret Terra and BSC bridge announcements.
Infrastructure committee has made progress on VPS compliance research and testing.
There are currently 9 complete committee charters available:
Forum Thread Highlights
What a summary! There was almost too much progress to document. But as exciting as June was, July 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 announcement of the Secret Terra bridge, the launch of the Secret BSC bridge, and the introduction of $CSHBK on SecretSwap, we've seen massive growth in just a short time. So what other announcements and collaborations lie in store (when IBC)? You’ll have to wait and see what secrets July brings…
Onwards and upwards!
To discuss Secret Network and Secret Apps, visit our community channels: