Secret Network mints 1.079 billion SCRT to ensure survival after developer exit
By: cryptoslate.com|2026/08/23 13:20:52
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Secret Network executed a mint of 1.079 billion SCRT on Aug. 21 to sustain operations following the impending support cutoff from SCRT Labs on Sept. 1. Proposal 365 passed, initiating the v1.26.0-community-continuance upgrade at block 26,790,327. The upgrade was confirmed with block production continuing to block 26,806,270, although future development and validator participation remain reliant on community actions. The mint utilized 361.97 million existing SCRT, representing about 25.1% of an estimated total of 1.441 billion SCRT post-mint. The total supply reached 1.44346 billion SCRT, including pre-upgrade supply and inflation. Existing holders retained their balances, but their collective share dropped to roughly 25% of the total. The mint allocated 299 million SCRT to foundation and core-development programs, 178 million to an ecosystem fund, and 72 million each to advisors, research and development, and validators. The v1.26 economics made 308.4 million SCRT liquid on day one with ongoing inflation set at 5%. On Sept. 1, SCRT Labs will cease development support, leaving continued operation dependent on validators and community backers.
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