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 🤫
The launch of v2 of SecretSwap. Secret Monero Bridge LIVE on testnet. Secret Network becomes keyTango's first Catalyst Bridge partner. Secret Tokens implemented on the Citadel.One mobile app and web platform. An incredible "Leaking Alpha" podcast interview with Tor Bair of the Secret Foundation. Over $150,000,000 in cumulative volume on SecretSwap. The completion of the Scaling Ethereum Hackathon - yielding multiple Secret Network projects. Secret BSC bridge launches on testnet. Plus: Arrington Capital, Blocktower Capital, Spartan Group, Skynet Trading acquire $11.5M position in SCRT, covered in TechCrunch and Coindesk.
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!
The Secret Monero Bridge has launched on testnet! This is an exciting new development in the crypto privacy space that combines the strength of the Monero privacy coin with the wide utility of Secret Network’s programmable privacy, specifically privacy-first decentralized finance (DeFi) ecosystem. At the present time, no DeFi protocol integrates Monero - but this is set to change once the Secret Monero Bridge is live on Secret Network mainnet.
The launch of the Secret Monero Bridge will allow Monero to flow to and from Secret Network. Since Monero is already a privacy coin, the biggest immediate benefit for users with this bridge is that they can gain accessibility to Secret DeFi via privacy-preserving decentralized finance apps built on the Secret Network. This includes SecretSwap, the first front-running resistant, cross-chain and privacy-first AMM.
As mentioned above, the bridge is now on testnet. At this time, anyone will be able to test creating Secret Token versions of Monero assets, exchange and yield farm with these tokens, and burn them to transfer back to Monero. For users who are already familiar with DeFi and liquidity mining, this is an attractive new way to get competitive yield on Monero assets while also gaining exposure to the groundbreaking world of Secret DeFi - a universe where applications are front-running resistant and private by design!
The Secret BSC Bridge is the third Secret Bridge to pass the testnet stage, joining the Secret Ethereum Bridge (already live on mainnet) and the Secret Plasm Bridge (MVP recently launched on testnet, helping facilitate a connection between Polkadot and Cosmos ecosystems).
You can view and interact with the bridge on testnet at: https://bsc.testnet.enigma.co/
This continues a series of exciting BSC-related announcements for Secret Network, as we recently shared that SCRT is now available on Binance Smart Chain as a BEP20 token. Even though the Secret BSC Bridge has yet to launch on mainnet, Binance.com users are already able to directly withdraw their SCRT from Binance as a BEP20 asset, as well as deposit BEP20 SCRT onto Binance.
Multiple organizations announced in May that they have acquired large positions in SCRT, the native coin of the Secret Network blockchain, totaling $11.5 million. These firms are led by Arrington Capital and Blocktower Capital and also include Spartan Group and Skynet Trading. This announcement adds to the list of major funds already participating in the Secret Network ecosystem such as Outlier Ventures, Fenbushi Capital, Hashed, key ecosystem contributors such as Secret Foundation, Enigma MPC, and experienced node operators such as Figment and Staked.
These funds and liquidity providers will help support growth of privacy-preserving applications on Secret Network, including its DeFi and NFT ecosystems.
“The addition of these valuable and experienced partners to the Secret ecosystem marks a significant inflection point for Secret Network as we concentrate on expanding and supporting our fast-growing application layer,” said Tor Bair, Founder of Secret Foundation. “We look forward to working alongside these organizations to drive global adoption of privacy-first decentralized applications, secured by Secret Network.”
May saw the launch of the new v2 of SecretSwap - featuring a complete UX redesign, multiple performance and stability improvements, and more!
The SecretSwap application now lives at: app.secretswap.io
On SecretSwap you can swap assets, contribute to liquidity, and start earning $SEFI (native governance token of SecretSwap and Secret DeFi) as an LP!
SecretSwap is the first front-running resistant, cross-chain, and privacy-first AMM. By leveraging Secret Network's underlying privacy technologies, we're introducing critical privacy and security improvements to DeFi. We've worked hard to ensure that a product as innovative as SecretSwap still feels good in your hands - simple to use, fast and responsive, easy to navigate, and with cheap fees. We hope you enjoy these improvements!
SecretSwap has reached the impressive milestone of over $150,000,000 in cumulative volume since its launch. Continued usage has only increased, even despite macro market movements - proving not only the validity of the protocol, but also the adoption.
Daily volume also increased passed $5,000,000 twice in May - signs of continued growth on SecretSwap. With the launch of the $CSHBK token on SecretSwap in June, there is a high likelihood that liquidity and volume will continue to increase on SecretSwap!
In early May, Can Kisagun, co-founder and product lead at Enigma sat down with defiprime.com to discusses the future of SecretSwap, why it is so important, and where SecretSwap is innovating in the blockchain domain.
In May, keyTango announced Secret Network as the first partner to use the Catalyst Bridge. This initial integration will provide users who are newer to DeFi with unprecedented easy access to liquidity mining programs on SecretSwap, starting with the sETH-sSCRT pool, currently yielding an attractive ~150% APY.
All you need to start earning today is ETH and a MetaMask wallet!
You can find the token rewards pool live NOW at: https://app.keytango.io/tokenrewards
As of May, Citadel.one's mobile app and web platform now support over 33 different Secret Tokens. SNIP-20 tokens have been integrated into the Citadel.one platform, so users can now send, receive, store and transact SNIP-20 tokens right on the Citadel.One mobile app or web platform.
Learn how to send, receive, and store Secret Tokens and generate viewing keys via Citadel.one in the full blog outlining the most recent updates!
As of May, the Secret Foundation officially announced a new initiative to steward and accelerate the growth of Secret Network. Secret Network Action Campaigns (SNACs) are focused on empowering and funding community members to gather resources and solve a problem within and/or support the Secret Network ecosystem! Up to 200,000 SCRT ($300,000+) are being made available initially towards funding and accelerating proposals that drive massive growth of the network and adoption of its products - and the first SNACs have already begun!
Every individual within the Secret Network community is key to the future of Secret Network, and your ideas are key to unlocking the full potential of a private and decentralized future. We believe a committed and collaborative community is the most important thing any of us can build - and it is the fundamental source for any meaningful change. If you'd like to learn more about submitting a SNAC, read the full blog linked below.
Secret Network Website v2
After a significant amount of community feedback, the official Secret Network website has seen a massive design and visual overhaul. Feedback is welcome, so feel free to post to the official Secret Network Forums with any feedback.
Media can now be filtered through, with high quality content consistently added and featured on the main website. Start looking through content today!
Secret Heroes Official Launch
May also saw the launch of Secret Heroes, the first ever video game built on top of the Secret Network that utilizes secret NFTs to guarantee private and secure battles of heroes from all over the world! In Secret Heroes, each hero comes with a unique skin and a randomly-generated statline across 4 different skills: Weapons, Engineering, Biotech, and Psychics. Heroes can be minted in packs of three for just 1 SCRT and there are endless combinations to collect.
Secret Heroes’ secretNFTs are created using the SNIP-721 standard on Secret Network.
Choose a hero and send it to battle against two other players. In each battle, the game randomly chooses a skill. The hero with the highest stat for the chosen skills is crowned the victor. Each time you win a battle, your hero’s stats will improve. The tougher the opponent you beat, the greater the stat increase. Be careful though, losing battles can cause you to lose stats!
Sienna and Paralink Network partner to utilize Paralink’s oracles for Sienna Network. Paralink’s oracles will shortly become compatible with Secret Network, thus allowing Sienna to integrate oracles for its privacy-first lending platform, SiennaLend and future trading products.
The upcoming SiennaLend platform (which is currently in development) will leverage the real time multi-chain token prices that Paralink delivers through its scalable and low cost platform. Security and accuracy in delivering price feeds are critical, and failure in delivering secure and unmanipulated price feeds can lead to significant losses.
Once Paralink is implemented for Secret Network it will automatically become available for Sienna and will be implemented Sienna’s trading and lending products in the future.
Secret Manufaktur brings privacy to NFT art. It allows artists and collectors to leverage secret networks privacy preserving smart contracts to enable on-chain unlockable content, hidden ownership and private transactions. Secret Manufaktur is an NFT minting platform and marketplace on Secret Network. It protects intellectual property of artists by storing their art as encrypted data on the NFT in a way such that only the current owner ever has access to it. Building around this concept, Secret Manufaktur provides a smooth interface build to allow for an user experience.
Secret Network X Polygon Testnet Bridge
Rainbow Bridge is a cross-chain asset bridge aiming to connect Secret Network to Polygon. This bridge was a created as a hackathon submission for EthGlobal - credit to Larry Hu, Guy Garcia, and Brahma Sen. Specifically, this bridge connects Secret Network to an ETH layer-2 blockchain, enabling significantly cheaper bridge transactions.
Shhh! is a one-time-read messaging system that uses Secret Network to securely store messages and deliver secrets like passwords, private keys, credit card information, api keys, etc. It isn't like other secret data stores, though: once a message is retrieved, it is burned and can't be retrieved again.
Quartier aims to empower E-voting and liquid democracy for everyone through secret contracts. Yann Vonlanthen's (creator of Quartier) e-voting solution allows for limited timeframes, individual and universal verifiability, as well as vote delegation. This means that a vote can be transferred freely to anyone else. The final contract can be easily adapted to suit one's needs, and offers a wide variety of other features, such as limited timeframes and hidden intermediary results.
Press / Media
In @DefiantNews: "Secret Swap is a cross-chain AMM, but unlike other AMM’s, the transactions have encrypted inputs, outputs, and state, which means that no one can snoop in on the details."
In @TechCrunch: "Last week we saw some major backing of the Secret Network blockchain, as significant blockchain players Arrington Capital and Blocktower Capital invested in the privacy-first smart contract platform. What this is signaling is the rise of privacy-oriented financial blockchain projects, which are crucial if “DeFi” (decentralized finance) is to have any kind of future. We have come to expect privacy in our “normal” financial lives, so we will expect it in the blockchain world."
In @TechCrunch:"So why is this at all significant? Why should we care? It’s simply because, without privacy, DeFi is highly unlikely to go mainstream.
Without privacy in transactions, the traditional economic system won’t bother taking any notice of crypto and blockchain, outside of noting whether the price of bitcoin goes up or down."
In @Altcoinbuzz:"The Secret Network announced its integration with Binance Smart Chain (BSC) to empower users with diversified features. As per the tweet, the team has launched a Secret BSC Bridge, which will allow users to move their assets between BSC to Secret Network and vice versa."
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.
Here are a couple of committee highlights:
Education: agents.scrt.network "learn" page v2, SecretNFT infographic, formalized Secret Agents and SNAC process. Assisted with educational content surrounding the Secret Monero testnet launch
Awareness: Coordinated runbook and KOL outreach surrounding the massively successful Secret Monero Bridge launch, SecretSwap full length tutorial
Design: Created infographics used for the Secret Monero Bridge and BSC testnet launches, many of which were used in this blog.
SecretSwap: provided technical support for SecretSwap users, began documentation of re-occurring tickets. Started a Gitbook for SecretSwap. Gathering community feedback for UI/UX improvements.
International Growth: Onboarding global agents - 13.61% growth across global channels.
There are currently 9 complete committee charters available:
Secret Forum Thread Highlights:
What a summary! There was almost too much progress to document. But as exciting as May was, June 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 introduction of the Secret Monero Bridge, the upgrade to SecretSwap v2, the successful development of Secret NFTs, and the launch of Secret Heroes, 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 June brings…
Onwards and upwards!
To discuss Secret Network and Secret Apps, visit our community channels: