Secret Network
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  • 👋INTRODUCTION
    • Secret Network Introduction
    • Secret Network Techstack
      • Private transactions - A quick summary
      • Blockchain Technology
        • Cosmos Basics
        • Tendermint
        • Cosmos SDK
        • IBC
        • CosmWasm
      • Privacy Technology
        • Encryption - Key Management
          • Overview
          • Key Derivation & Encryption Techniques
          • The Initialization Of Secret Network
          • Full Node Boostrap
          • Contract State Encryption
          • Transaction Encryption
          • Consensus seed rotation
        • Trusted Execution Environments  (TEE) —  Intel SGX
          • How Secret Network Uses SGX
          • SGX-SPS Security & Reliabillity
          • Remote Attestation
          • Trusted & Untrusted Core
          • Sealing
        • Private smart contracts - overview
  • 💻Development
    • 🏠Getting Started
      • Setting Up Your Environment
        • Cargo.toml Best Practices (Crates vs Dependencies)
      • Compile and Deploy
      • Running the Application
      • Compile and Deploy on Secret testnet (best for Javascript devs)
      • Fullstack dApp Integration
    • 🤓Secret Contracts
      • Secret Contracts & CosmWasm
        • Framework overview
        • Secret Contract Components
          • Instantiation Message
          • Execution Message
          • Query Message
          • Deps/DepsMut
          • Storage
            • Prefixed Storage
            • Singleton
            • Keymap
            • Append Store
            • Best practices
        • CosmWasm vs Secret CosmWasm
      • Secret Tokens (SNIP-20)
      • Contract - module call
      • Secret contract - Design Space/Features
        • Secret Contracts introduction
        • Gas/Fee usage
        • TPS and scalability
        • Privacy Essentials
        • Access Control
          • Viewing Keys
          • Permits
        • Trusted and untrusted data
        • Secret-VRF - on-chain Randomness
        • Privacy design
          • Mitigate privacy risks - full guide
          • Gas Evaporation & Tracking
        • Confidential Computing Layer
        • Fiat/Crypto Onboarding
        • Account abstraction
        • Fee abstraction
        • Wallet support
        • Bridge (messaging/tokens)
        • IBC (Hooks, PFM, Wasm)
        • Price Oracles
        • Auto Restaking
      • Permissioned Viewing
        • Viewing Keys
        • Permits
      • Cross Contract Communication
      • Submessages
        • get_contract_code_hash
      • Randomness API - Secret VRF
        • Native On-chain randomness
        • Randomness over IBC
      • Execution Finalization
      • Factory Contracts
      • Contract Migration
        • Manual - < v1.11
        • Native - from v1.11
      • Cross-deploy Vanilla CW and Secret Contracts
      • Testing Secret Contracts
        • Unit Tests
        • Continuous Integration
        • Datatype Handling - Uint, floats etc.
    • 👀Secret Contract - Reference, Guides, Examples
      • Starter guide - Millionaire's Problem
      • Reference Contracts
      • Open source dApps
      • Tools & Libraries
        • Network interaction SDKs
          • Secret.js (JavaScript)
          • SecretPy (Python)
          • SecretK (Kotlin)
          • Secret.NET
            • Snippets
              • Deploying a Contract
              • Send Native Coin
              • Query a Contract
              • Create a new Wallet
              • Permits
              • SNIP20
              • SNIP721
          • Shade.Js
        • LocalSecret - Devnet docker
        • Smart contract - Tools/Utils
          • Secret Toolkit
          • CW-Plus
          • Fadroma - SC framework
          • Hidden Gems
          • Other
            • Secret IDE
            • Polar
    • 🖼️Frontend Development
      • Getting Started with SecretJS
        • Usage Examples
          • Sending Queries
          • Sending Messages
          • Contract Migration
          • Wallet Integrations
          • Query Permits
          • SNIP20 (SCRT Tokens)
          • SNIP721 (Secret NFTs)
      • Feegrant
        • Understanding Feegrant allowances
        • Grant allowances
        • Using grant allowances to execute transactions
        • Using the Fee Grant Faucet
    • 📬Deployment Addresses/ API Endpoints
      • Secret (SNIP 20) token contracts list
        • SNIP Asset naming guidelines
      • Connecting to the Network
        • API Endpoints Mainnet (Secret-4)
        • API Endpoints Testnet (Pulsar-3)
        • Usage examples
        • Comparison of endpoint types
      • Create your own SNIP-25 IBC Token
  • Secret AI
    • 🤝Introduction
    • 🏗️Architecture
    • 👩‍💻Secret AI SDK
      • Setting Up Your Environment
      • Running the Application
    • 🪙Economics
    • Smart Contract Reference
      • SubscriptionManager
      • WorkerManager
      • RewardsManager
  • 🌐SecretVM - Confidential Virtual Machines
    • 🤝Introduction
    • 🏗️Architecture
    • ☑️Attestation
      • What is Attestation
      • Obtaining Attestation Data
      • Attestation Report - Key Fields
      • Chain of Trust
    • 🏁Launching a SecretVM
    • 🛠️Managing SecretVM Lifecycle
    • ✅Verifying a SecretVM
      • 🐢Full Verification
      • 🐰Quick Verification
    • 💡Best Practices for Developers
    • 📖Glossary
  • 🔓Confidential Computing Layer
    • 🧑‍🚀IBC Developer Toolkit
      • Basics
        • Overview
        • Cross-chain Messaging with IBC Hooks
          • Functions, Methods, and Data Structures
          • Typescript SDK
          • IBC-Hooks
        • IBC Relaying with Go Relayer
      • Usecases
        • Storing Encrypted Data on Secret Network
          • Key-Value store Developer Tutorial
        • Secret VRF for IBC with IBC-Hooks
        • Confidential Voting
        • Sealed Bid Auctions
      • Supported Networks
        • Mainnet
        • Testnet
    • 🤝Ethereum (EVM) Developer Toolkit
      • Basics
        • Overview
        • Connecting Metamask to Secret Network
        • SecretPath + Reown integration
        • Cross-chain Messaging
          • SecretPath
            • Architecture Overview
            • Detailed Architecture
            • SecretPath Developer Tutorials
            • Public EVM Gateway Architecture
            • How to deploy SecretPath on your chain
          • Axelar GMP
            • Architecture Overview
            • Axelar GMP Developer Tutorial
      • Usecases
        • Storing Encrypted Data on Secret Network
          • Key-Value store Developer Tutorial
        • Sealed Bid Auction
          • Sealed Bid Auction Developer Tutorial
        • Confidential Voting
          • Confidential Voting Developer Tutorial with SecretPath
        • VRF
          • Implementing VRF into any EVM Contract
          • VRF Developer Tutorial
          • Performance figures of SecretVRF vs competitors
          • Using encrypted payloads for VRF
          • Converting from Chainlink VRF to Secret VRF in four steps
        • Confidential Document Sharing
        • Tokens
          • From EVM to Secret
      • Supported Networks
        • EVM
          • EVM Mainnet
          • EVM Testnet
          • Gateway Contract ABI
        • Secret Gateway
          • SecretPath mainnet (secret-4) contracts
          • SecretPath testnet (pulsar-3) contracts
    • 🙌Solana Developer Toolkit
      • Usecases
        • Storing Encrypted Data on Secret Network
          • Key-value Store Developer Tutorial
        • VRF
          • VRF Developer Tutorial
      • Program IDs
        • Solana Mainnet & Testnet
        • Gateway Contract IDL
  • 🤫Overview, Ecosystem and Technology
    • 🚀Secret Network Overview
      • The SCRT coin
      • Private Tokens
      • Use Cases
        • Decentralized Finance (DeFi)
        • Art And Digital Media
        • Gaming
        • Data Privacy
        • Payments And Transactions
        • Communication
      • The technology
      • History
      • Roadmap (Core development)
        • Secret 2.0
      • Where To Buy SCRT?
      • Using the Testnet
    • 🐸Ecosystem Overview
      • Wallets
      • Applications
      • Explorers & tools
      • Funding
        • SCRT Labs Grants
        • Dilutive funding/VC raise
        • Community Pool
        • Developer bounties
          • SCRT Labs bounties [on-hold]
          • CCBL [on-hold]
          • CCR [On-hold]
        • Application specific
          • Shade Grants
      • Contributors & Entities
        • Validators
        • SCRT Labs
        • Secret Foundation
        • Secret Committees
          • Support
          • Governance
      • Secret Network Dictionary
  • 🔧Infrastructure
    • 🔓Use SecretCLI
      • Secretcli vs. Secretd
      • Install
      • Configuration
      • Address Types
      • Key Types
      • Generating Keys
      • Viewing Keys
      • Query Transactions
      • Send Tokens
      • Multisig Keys
      • Multisig Transactions
      • Transaction Broadcasting
      • Fees & Gas
      • Fee Distribution
      • Secret Contracts
      • Slashing
      • Minting
      • Delegating
      • Restake
      • Nodes
      • Governance
        • Creating Governance Proposals
        • Query Proposals
        • Deposits
        • Voting
    • 🔐Use Ledger hardware wallet
      • 🔐Ledger with SecretCLI
    • 🖥️Running a node/validator
      • Setting up a node/validator
        • Hardware setup
          • Hardware Compliance
          • VPS/Bare-Metal Compliance
            • Leaseweb Setup
            • PhoenixNAP Setup
            • Psychz Setup
            • nForce Setup
            • Vultr Setup
            • OVHCloud Setup
            • Microsoft Azure Setup
          • Patching your Node
          • Enclave verification
          • Registration troubleshooting
        • Testnet Setup
          • Install SGX
          • Install secretd
          • Setup Full Node
          • Testnet State Sync
          • Becoming a Testnet Validator
          • Installing CLI & Creating A New Address
        • Mainnet Setup
          • Install SGX
          • Install secretd
          • Setup Full Node
          • Quicksync / Snapshot
          • Statesync
          • Becoming A Validator
          • Installing CLI & Creating A New Address
      • Maintaining a node/validator
        • Slashing information
        • Migrating a Validator
        • Troubleshooting
        • Validator Backup
        • Server security
          • SSH authentication
          • Server configuration
          • Uncomplicated-Firewall (UFW)
          • Local CLI
        • Node Monitoring
          • Prometheus
            • Environment Preperation
            • Install Node Exporter
            • Install Prometheus
            • Configuring Prometheus
          • Grafana
            • Install Grafana
            • Grafana Dashboard
            • Next Steps
          • Docker
            • Install Docker
            • Configuration
            • Start Containers
            • Grafana Dashboard
            • Application Ports
            • Stop Containers
          • Goaccess
            • Install Goaccess
            • Setup Goaccess
        • Helpful commands
          • Query Validators
          • Bond Tokens
          • Withdraw Rewards
          • Query Delegations
          • Unbond Tokens
          • Query Unbonding-Delegations
          • Redelegate Tokens
          • Query Redelegations
          • Query Parameters
          • Query Pool
          • Query Delegations To Validator
      • API Noderunning
        • Running Multiple Nodes on the Same Server
        • Node Loadbalancing using Nginx
          • Setup Nginx
          • Example Nginx config
        • Using Auto heal to improve cluster uptime for Nginx
      • Sentry and Archive nodes
        • Mantlemint
        • Sentry Nodes
        • Archive Nodes
    • ⛓️IBC Relayers
      • Hermes
      • RLY
      • IBC channel database
    • 🆙Upgrade Instructions
      • v1.13
      • v1.12
      • v1.11
      • v1.10
      • v1.9
      • v1.8
      • v1.7
      • Shockwave Omega v1.6
      • v1.5
      • Shockwave Delta v1.4
      • Shockwave Delta v1.4 (Testnet)
      • Shockwave Alpha v1.3
      • Cosmovisor
      • Vulcan Network Upgrade (OLD)
    • ☠️Postmortems
      • SNIP-20 leaks
      • xApic
      • Secpk-Verifications Bloat
      • Earn Contract Exploit
      • Testnet Halt 95
    • ✍️Contribute to the documentation
      • Report Bugs
      • Suggest Enhancements
      • First Contribution Guide
      • Pull Request Templates
        • Update Documentation
        • Bug Fix
        • Improve Performance
        • Change Functionality
      • Style Guide
    • 🌊Versioning & Changelog
      • Secret Network v1.13
      • Secret Network v1.12
      • Secret Network v1.11
      • Secret Network v1.10
      • Secret network v1.9
      • Secret Network v1.7/1.8
      • Secret Network v1.6
      • Secret Network v1.5
      • Secret Network v1.4 (CosmWasm 1.0)
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  1. Overview, Ecosystem and Technology
  2. Secret Network Overview

The SCRT coin

Learn about the SCRT coin, native to the Secret Network

PreviousSecret Network OverviewNextPrivate Tokens

Last updated 10 months ago

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SCRT - the Native coin of Secret Network

SCRT (pronounced “secret”) is the native coin of Secret Network. SCRT is used for payment of transactional and computational fees such as gas fees, staking with validators to secure the underlying network and earn inflation rewards, participation in community governance which helps to shape the future of the network, and so on.

The SCRT coin is a public asset on-chain and interactions with the coin are public-by-default (eg. balance, receiver etc).

This means interactions on the network that require SCRT gas such as viewing key generation, NFT minting, AMM swaps, and more will all show as interactions on-chain. These interactions can sill have private metadata through the implementation of , but the interaction is publicly verifiable on-chain.

SCRT utility

Governance

Voting on Secret Network is powered by the SCRT token: every staked SCRT is equivalent to 1 vote. Secret Network uses the delegated-Proof-of-Stake (dPOS) system included with the Cosmos SDK and the Tendermint Consensus engine. This means validators vote with the power of the combined total staked SCRT of all of their delegators. A delegator overrides the vote of their validator by voting themselves. If Quorum on a proposal is reached, a simple majority of staked SCRT is needed to pass a governance proposal. Proposals have a 7-day voting period and delegators can change their vote until the last block. Staking SCRT gives any network participant a vote in the ecosystem.

Staking/Inflation

The SCRT coin has no supply cap because it constantly rewards network participants with SCRT inflation to enable security of the protocol. When staked users secure the protocol from potential attacks, delegators are rewarded. Validators receive a commission from the inflation rewards of their delegators so they can run a sustainable business and pay their hardware. The Secret Network inflation parameters are dynamic: the current inflation is 9% as long as the ratio of staked to non-staked SCRT remains under 66%. If the bonded rate goes above 66%, the inflation gradually declines to 7%. The current Secret Network staking APR is ~23%, which is higher than the annual inflation. If a user stakes SCRT, they gain a real return of ~5-7%. If a user does not stake, they are being diluted. These tokenomics generate a sustainable environment for the SCRT coin and all network participants.

Gas Fees

When processing transactions on Secret Network, users need to pay for the space they take up in a block. This payment for computation of data is called a gas fee. The gas fee on Secret Network is set by the validators and their min_gas_fee setting.

The current gas fee per unit of gas is 0.05uSCRT . A transaction, on average, is sized at 100,000 gas units, each transaction therefore costs 100,000 * 0.05 *10^-6 = 0.005 SCRT . The prices for these example transactions can always change if validators decide to run with different settings.

There is no reason for a fee market to arise on Secret Network due to high throughput and fast finality. The fee on Secret Network could be 0 but this is not done as to eliminate denial-of-service attacks. An attacker would have to pay a full block worth of gas every 6 seconds to maintain an attack, which disincentives the attacker.

Transaction fees are paid out to stakers on the network and are an addition to their yield. Every wallet on Secret Network needs SCRT to complete transactions: this drives utility to the SCRT coin.

Want to learn more about SCRT and how you can participate in the Secret ecosystem? for more information on how to buy and store SCRT.

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