What is Secret (SCRT)?

Quick Facts

  • Token name: SCRT (Secret)
  • Blockchain: Secret Network (layer-1, Cosmos SDK)
  • Consensus: Delegated Proof-of-Stake via Tendermint BFT
  • Key feature: Privacy-preserving smart contracts ('Secret Contracts')
  • Token utility: Gas fees, staking, and on-chain governance
  • Interoperability: Connects to Cosmos IBC, Ethereum, and other ecosystems
  • Launched on mainnet: 2020

Introduction

Secret (SCRT) is the native coin of Secret Network, a layer-1 blockchain built to bring programmable privacy to decentralized applications. Unlike most public blockchains where all data is visible by default, Secret Network encrypts inputs, outputs, and contract state — giving users meaningful control over their information.

SCRT is used to pay transaction fees, stake to help secure the network, and participate in governance decisions.

History & Background

Secret Network was built using the Cosmos SDK and launched its mainnet with private smart contract support in 2020, making it one of the first protocols to offer confidential computation on a live blockchain. The project evolved from an earlier chain and has grown into a broader ecosystem of privacy-focused dApps and infrastructure.

How Secret Works

At the heart of Secret Network are Secret Contracts — smart contracts that process encrypted data. This is made possible by Trusted Execution Environments (TEEs), specifically secure enclaves like Intel SGX, where validators compute over encrypted inputs without ever seeing the raw data.

Because the mempool and contract state are also encrypted, the network is naturally resistant to MEV (Miner Extractable Value) attacks and front-running. All users benefit from this protection by default.

Public assets from other chains can be wrapped into SNIP-20 Secret Tokens — private equivalents that conceal balances and transaction history.

Tokenomics

SCRT has a dynamic inflation model: when staking participation is below 66%, inflation stays around 9%, gradually decreasing as the bonded rate rises above that threshold. This design incentivizes staking while maintaining network security.

Validators are subject to slashing for downtime or double-signing, reinforcing honest participation. Stakers earn rewards from block subsidies and transaction fees.

Circulating supply ? 343.56 million SCRT
Total supply ? 358.67 million SCRT
Max supply ? -- SCRT
Updated 4d ago

Ecosystem & Use Cases

Secret Network supports a wide range of applications that require on-chain confidentiality:

  • Private DeFi — lending protocols with confidential collateralization data
  • NFTs — digital collectibles with private ownership and content
  • Identity and data storage — encrypted, user-controlled data on-chain
  • AI infrastructure — Secret AI leverages TEEs for GPU-based LLM computation
  • Secret Bridges — cross-chain privacy for assets from Ethereum, Cosmos, and more

Team, Governance & Community

SCRT holders participate in on-chain governance by creating and voting on protocol upgrade proposals. The network is maintained by a distributed set of validators and supported by a global community of developers and privacy advocates. The Secret Foundation has historically supported ecosystem growth and outreach.

Advantages

  • Privacy by default for smart contract inputs, outputs, and state
  • MEV resistance due to an encrypted mempool
  • Interoperability with Cosmos IBC and Ethereum via bridges
  • Flexible compliance through optional Viewing Keys for auditability
  • Broad use case coverage spanning DeFi, NFTs, AI, and identity

Risks & Challenges

  • TEE dependency — reliance on Intel SGX introduces hardware-level trust assumptions
  • Regulatory scrutiny — privacy-focused protocols may face increased pressure from regulators
  • Ecosystem competition — other privacy and confidential computing projects are emerging
  • Adoption hurdles — convincing mainstream developers and users to prioritize privacy requires ongoing effort

Long-Term Vision

Secret Network aims to become the foundational privacy layer for Web3 — a platform where any blockchain application can integrate confidential computation without sacrificing usability or interoperability. With expanding work in AI infrastructure and cross-chain privacy, the project positions SCRT as essential infrastructure for a privacy-respecting decentralized internet.

Frequently Asked Questions

SCRT is the native token of Secret Network, used to pay gas fees, stake to secure the network, and vote on governance proposals. It is the core utility asset of the entire Secret ecosystem.

Not exactly. SCRT transactions themselves are publicly viewable on-chain. Privacy is achieved by wrapping SCRT into sSCRT or using Secret Tokens (SNIP-20 standard), which hide balances and transaction details by default.

Secret Contracts are smart contracts on Secret Network that process encrypted inputs, outputs, and state. Validators execute them inside Trusted Execution Environments so no sensitive data is ever exposed.

Secret Network is an independent layer-1 blockchain built with the Cosmos SDK and Tendermint BFT consensus. It is interoperable with other Cosmos chains via IBC and with Ethereum through bridges.

SCRT holders can delegate tokens to validators who secure the network through Proof-of-Stake consensus. Stakers earn rewards from block subsidies and transaction fees, while validators face slashing penalties for misbehavior.

SNIP-20 is Secret Network's token standard, similar to Ethereum's ERC-20 but with privacy by default. Tokens following this standard keep balances and transaction history encrypted on-chain.

Yes. Through Secret Bridges, assets from Ethereum, Binance Smart Chain, Cosmos, and other ecosystems can be wrapped into their SNIP-20 equivalents, granting them privacy-preserving properties.

Secret AI is an infrastructure layer built on Secret Network that enables large-scale GPU computation for AI models (such as LLMs) inside Trusted Execution Environments, combining AI capabilities with confidential computing.