Thread by @AltCryptoGems

There is a Privacy problem in Web3.

@SecretNetwork which launched in 2020 is here to solve the issue! #secret

I will leave all the official links at the end.

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#NFA #DYOR

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@SecretNetwork is a decentralized network solving one of the largest problems in blockchain technology and that is Privacy.

Generally, blockchains expose user data to everyone. If you have the wallet address of a user, you can see all their assets, metadata and so on.

This is where #Secret comes in.

@SecretNetwork is the first Layer 1, Proof-of-Stake blockchain with "Privacy-Preserving Smart Contracts".

All #DeFi apps built on their network are cross-chain interoperable and private by default.

@SecretNetwork consists of decentralized "Secret #Nodes". It is an open-source, permissionless blockchain that provides data privacy and aims to protect users and empower developers in the world of Web3.

In their own words, @SecretNetwork is made up of #Ethereum's Smart Contracts + @Monero's Privacy by Default + @Cosmos' scalability and interoperability.

#Secret has created a unique and clever way of allowing only the @SecretNetwork user to have a unique set of "Viewing Keys" to view their private data, such as token balances, transactions and so on.

It is possible if allowed by the user to share the "Viewing Keys" with third parties, like your connected wallet or network explorer.

Decentralised Finance is all about having the privacy that we don't have in Centralised Finance. When our data is open to the masses, this is a problem and we need to take control of our data and privacy.

If you are interested in getting $SCRT tokens, you can obtain them on @Osmosis #DEX, Kraken, Gate.io CEX's and many more platforms.

You can use @Keplrwallet or better yet your @Ledger to store your $SCRT tokens.

If you're interested in earning with $SCRT you can stake your assets with certain validators or even lock your tokens in 'Liquidity Pools' which comes with other risks.

Staking - Currently, you can earn up to 22.85% APR when Staking $SCRT. Most Validators have a commission of 5%. It is best to stake your tokens with reputable names such as @CitadelDao, @Kraken and so on. All rewards are distributed to your wallet every 24 hours.

The current lock-up period is 21 days, meaning if you decide to un-delegate your $SCRT tokens, it will take 21 days for the Staked amount to re-enter your wallet, with a 5% validator commission fee.

Liquidity Pools - A great place to lock up $SCRT in Liquidity Pools is @Osmosis. The $SCRT/$OSMO pool offers up to 30.84% APR, with a '14 day un-bonding period', if you decide to remove your LP tokens from the pool. Beware this comes with the risk of 'Impermanent Loss'.

At the time of writing, $SCRT is valued at $1.08 and has a market cap of $189M. Its ATH price was $10.38 and the market cap topped at over $1.5B in January 2022.

Secret and Osmosis Socials & Websites

Secret Twitter - @SecretNetwork
Secret Website - scrt.network
Osmosis Twitter - @Osmosiszone
Osmosis Website - osmosis.zone
Keplr Twitter - @KeplrWallet

#CryptoPrivacy #SecretNetwork #Web3

That's it! Thanks for reading!

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