We’re excited to announce a partnership with Swisstronik, a privacy-preserving blockchain platform for Web3 compliance, which will expand the Confidential Computing Constellation!
Through this partnership, Swisstronik will license SCRT Labs’ decentralized TEE technology for use in its own blockchain, Swisstronik will airdrop a portion of its SWTR token to Secret holders, and Secret will integrate Swisstronik’s EVM technology to enable native EVM contract execution on Secret!
What is Swisstronik?
Swisstronik is building a modular blockchain ecosystem of chain-agnostic tools that allow Web3 companies to verify real-world data for compliance purposes – in a cost-efficient, privacy-preserving, decentralized way. These verifications can span from identity checks for KYC or KYB purposes to funds checks for AML, RWA tokenization – and beyond. As a result, Swisstronik solutions become a great fit for both dApps & chains looking to become regulatory compliant without losing decentralization and users willing to access regulated dApps and tokens while keeping their personal data private.
Secret x Swisstronik
Through this partnership, Swisstronik will join the Confidential Computing Constellation, licensing Secret’s current and future TEE technology for use in its own blockchain. Swisstronik leverages Intel SGX to create protected enclaves dedicated to executing EVM operations (such as transactions and calls). This encrypted execution within the protective enclave of Intel SGX helps preserve the privacy and security of transactions within Swisstronik’s blockchain. This is made possible by SCRT Labs’ implementation of Intel SGX combined with the Cosmos SDK tech stack.
SCRT Labs will also adapt Swisstronik’s custom CosmWasm EVM implementation into Secret Network, bringing native EVM contract execution to Secret, allowing for easy deployment of EVM applications on Secret for confidential execution! This will make it easier than ever for solidity developers to start using Secret Network, without having to learn a new programming language.
SwissTronik will also provide $1M worth of its SWTR tokens to the Secret Community, out of which $700K will be distributed as an airdrop to the community members, and $300K will be distributed through development grants for implementation of SwissTronik decentralized identity applications on Secret. The SWTR token is slated to be available later this year. The actual amount of tokens to be airdropped to the Secret Network community will be determined based on the token price 4 months after the TGE, provided sufficient liquidity is available on the market. SCRT Labs will also receive a smaller allocation of SWTR tokens.
Swisstronik will also integrate Secret VRF for seamless on-chain randomness, and SCRT Labs will appoint an advisor to sit on the Advisory Board of Swisstronik.
Valerii Brizhatiuk, Co-Founder of Swisstronik, said: “The opportunity to work within the Confidential Computing Constellation will allow us to supplement the emerging ecosystem with compliance tools that are so important in our time. Keeping sensitive user data private has always been very important to Swisstronik, and Secret is the best partner to help us with this, especially since both projects use Intel SGX. Secret and Swisstronik communities share the same values – thus, we believe this collaboration will bring in a series of new-generation privacy-preserving apps and approaches.”
Alex Zaidelson, CEO of SCRT Labs, said: “We are excited to expand the Confidential Computing Constellation. This is a multi-faceted partnership bringing huge value to both projects. Swisstronik addresses important use cases for the future of Blockchain, and partnering with this team means investing in the future.”
Join in on the discussion on the Secret Network community channels!
