Secret Network
Secret Network Genesis Distribution Airdrop is worth 10% of all SEFI Token supply. SEFI is non-inflationary with a fixed supply.
The remaining 90% of tokens would be distributed over four years, with rewards halving year over year. These parameters (e.g. weighting of rewards between LP Providers and Traders) could change in the future through governance.
About Secret Network
Secret Network is a layer one solution built with the Cosmos SDK, leveraging proof-of-stake (PoS) using Tendermint’s Byzantine fault-tolerant consensus algorithms. As the first blockchain to support encrypted inputs, encrypted outputs, and encrypted state for smart contracts, Secret Network allows for new kinds of powerful decentralized applications to be built. This can unlock substantial value across multiple verticals and industries. Secret Network is a first-of-its-kind, open-source blockchain that provides data privacy by default. The native token of Secret Network is “SCRT”.
Multiple new ERC-20 assets are now supported on the Secret Ethereum Bridge! Holders can turn their assets into privacy-preserving Secret Tokens usable anywhere in Secret DeFi, including SecretSwap & bridge mining. As the Secret DeFi ecosystem expands, it is possible for participants in SEFI governance to introduce additional mechanics based on the usage of other Secret DeFi products.
Secret Network
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Step by step guide
- Visit the Secret Network Genesis Distribution Airdrop page to learn about the genesis distribution for SCRT stakers, bridge users, and SecretSwap LPs, as well as long-term token mechanics and distribution. It will outline details on the proposed distribution for SEFI tokens, including genesis and initial rewards structure. To summarize what follows, the following actions will be the most highly connected with SEFI genesis distribution:
- A) Staking $SCRT, the native coin of Secret Network (similar to the role of ETH on Ethereum) - note that you must stake your SCRT to be eligible.
- B) Interacting with Secret Bridges (turning assets from other ecosystems into secret tokens), including through providing liquidity to WSCRT pairs on ETH.
- C) Usage of SecretSwap (providing liquidity for pairs).
- In this initial proposal, the SEFI token will be distributed in a one-time genesis event as well as to SecretSwap users over four years. The token emission and the details of each class of rewards can be seen here. 10% of SEFI will be distributed at genesis. The remaining 90% of tokens would be distributed over four years, with rewards halving year over year.
Step-by-Step Guide ''Secret Network Genesis Distribution Airdrop''
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