Secret (SCRT) Staking

How to Stake SCRT

1. Navigate to https://wallet.keplr.app/

2. Click the Search Chains field and type Secret Network

3. Click Secret Network

4. Click Stake

5. Click the Search for validator field and type Coinage x DAIC

6. Click Coinage x DAIC

7. Click Stake

8. Click the Amount field, enter the number of SCRT tokens you want to stake

9. Click Stake

10. Approve the Keplr wallet transaction pop-up

11. Congratulations! Your SCRT tokens have been staked

About Secret Network (SCRT)

Secret Network is a decentralized, privacy-focused blockchain built on the Cosmos SDK, designed to enable confidential smart contracts, known as Secret Contracts, that process encrypted inputs and outputs, ensuring data privacy for decentralized applications (dApps). This architecture allows developers to create applications that handle sensitive information securely, addressing privacy concerns inherent in public blockchains.

What Makes Secret Network Special?

Secret Network distinguishes itself through several key features:

• Privacy-Preserving Smart Contracts: Unlike traditional blockchains, Secret Network's smart contracts can handle encrypted data, enabling the development of dApps that require confidentiality, such as private voting systems, secure financial applications, and confidential data sharing platforms.
• Trusted Execution Environments (TEEs): The network utilizes TEEs to execute smart contract computations in a secure and isolated environment, ensuring that data remains confidential even during processing.
• Interoperability: Built on the Cosmos SDK, Secret Network is inherently interoperable with other blockchains within the Cosmos ecosystem, facilitating seamless cross-chain interactions and expanding the potential use cases for privacy-preserving applications.
• Active Ecosystem and Development Community: With over 30 dApps on mainnet and more than 100 full-time builders, Secret Network boasts a vibrant ecosystem dedicated to advancing privacy in the blockchain space.

Links:

• Website
• Github
• Blog
• Explorer
• Twitter
• Discord
• Reddit

Learn More About Secret Network

• Forum

SCRT Staking FAQ

How much can I make staking SCRT?

The return from staking SCRT varies based on the network's overall staking participation and specific validator commission

How do I receive my SCRT rewards?

SCRT rewards need to be claimed. Visit the Keplr dashboard to claim your staking rewards

When can I start earning rewards with SCRT?

You can start earning staking rewards once your tokens are successfully delegated to a validator

Can I sell SCRT while it is locked up?

Staked SCRT tokens cannot be sold, they need to be unstaked first. The unstaking period for SCRT is 21 days

What are the risks around staking SCRT?

Staking SCRT comes with risks like slashing (penalty for the validator), price volatility, and liquidity risk (inability to sell during the lock-up period)

What consensus algorithm does Secret Network use?

Secret Network uses a decentralized Proof of Stake (PoS) consensus algorithm.

What are the tokenomics of SCRT?

Read all about SCRT tokenomics here