Thread by @DelucaDougie

1/ - 2 weeks ago, I started researching & experimenting with @SecretNetwork - $SCRT. With my intrigue stemming from $LUNA & my growing interest in Cosmos, I found Secret’s tech & proposed solutions to be quite compelling. Though I will keep learning, here is my initial review

@SecretNetwork 2/ - Secret’s value proposition is centered around privacy and the solutions it can bring within its own ecosystem & the broader Cosmos ecosystem. Combining $ETH’s smart contracts with $XMR’s privacy, + $ATOM’s scalability & interoperability, Secret boasts a unique tech stack

@SecretNetwork 3/ - Their intention to enable privacy across chains makes Cosmos the perfect home for it. Whether it is in DeFi, NFTs, or anything in between, privacy will be essential for mass adoption. Demand will soon spike & Secret’s positioning on Cosmos allows it to capitalize upon it

@SecretNetwork 4/ - One of the primary opportunities I have identified is in stablecoins. For mass adoption, we’ll need a degree of privacy in our daily transactions/activity. I for one wouldn't want to live in a world where my purchasing activity is traceable by anyone with my wallet address.

@SecretNetwork 5A / - One of the ways $SCRT tackles this problem is w/ their native algorithmic stablecoin, $SILK. Created by @Shade_Protocol, SILK is innately private & shares many of $UST's qualities. Its counterpart $SHADE, acts as the treasury, utility, arbitrage, and governance token.

@SecretNetwork @Shade_Protocol 5B / - The more I’ve learned about $SILK & $SHADE, the need for a separate thread has become apparent. As I work on putting one together, I highly recommend checking out this podcast to learn more in the meantime:

@SecretNetwork @Shade_Protocol 6/ - The other way $SCRT approaches this is by integrating with $UST itself. Integrated as $sUST, the privacy layer is added onto the beloved stablecoin and unlocks many different possibilities & use cases. Also, as we’ve seen with $MIM x $UST, $SILK x $UST shows similar promise.

@SecretNetwork @Shade_Protocol 7/- NFTs are another space that needs privacy. As shown on @StashhApp, SCRT NFTs create value in a variety of ways. They do this by only allowing the owner to see the address, contents, etc. This is a massive distinction from most NFTs where all of that info is publicly viewable

@SecretNetwork @Shade_Protocol @StashhApp 8/ - An example of this in practice is with on-chain casinos which are too easily exploitable via frontrunning today. If a SCRT NFT were to be incorporated instead, all pending moves/cards would not be visible to the user thus preventing such exploits from being utilized.

@SecretNetwork @Shade_Protocol @StashhApp 9/ - Given that premise and expanding scope to gaming and other digital applications where exploits are too accessible without on-chain privacy, the TAM for SCRT NFTs makes them quite compelling when imagining the infrastructure needed for these apps to migrate on-chain.

@SecretNetwork @Shade_Protocol @StashhApp 10/ - For $SCRT to be successful, its ecosystem will need to grow & diversify in order to be the privacy hub of DeFi, NFTs, & more. Though it should still be considered to be an early-stage chain, there are a few different native protocols which show significant promise

@SecretNetwork @Shade_Protocol @StashhApp 11/ - On the DeFi side, @secret_swap & @sienna_network are the most fleshed out of the active applications. Both offering a DEX, LPs & farms, Siena will also soon offer lending. What stands out the most rn is the cross-chain assets like $LUNA, $RUNE, & more available on each

@SecretNetwork @Shade_Protocol @StashhApp @secret_swap @sienna_network 12/ - For NFTs, @StashhApp's the first Secret-native NFT marketplace. It allows users to mint, buy, and trade the first NFTs with native privacy and access control. Secret Heroes is the first Secret-native gaming app which I'd hope to become a hub for Secret NFTs.

@SecretNetwork @Shade_Protocol @StashhApp @secret_swap @sienna_network 13/ - Other noteworthy projects to be on the look out for include but are not limited to:
altermail.live - Secure & private messaging
scrt.network/blog/secret-fe… (Datavault + Secret Bazaar)
twitter.com/JACKAL_DAO

Plz drop a comment if there are any that I missed!

@SecretNetwork @Shade_Protocol @StashhApp @secret_swap @sienna_network 14/ - Rn $SCRT directly competes with other privacy-oriented projects like $LOKI & $ROSE but appears to be best positioned to be the industry leader here. While it is likely that each of these projects will succeed given the massive need for privacy, Secret is my lead horse.

@SecretNetwork @Shade_Protocol @StashhApp @secret_swap @sienna_network 15/ - $SCRT’s success will be centered around its tech, cross-chain positioning, & the builders behind the project. All three I find to be superior to competition. Though still an early-stage project, I believe Secret’s value will explode as the $ATOM ecosystem breaks out in 2022

@SecretNetwork @Shade_Protocol @StashhApp @secret_swap @sienna_network 16/ - To try to make this as digestible as I can, I'll conclude by saying this is just the start of my coverage here. As an investor, I am building positions in $SCRT, $SEFI, $SIENNA, & soon $SHADE + $SILK. More details on my approach & thesis on each coming soon! Stay tuned