Secret Network has minted 1.079 billion SCRT tokens following the approval of Proposal 365, significantly diluting its existing token supply to fund ongoing operations ahead of a major developer support cutoff.
The network executed the v1.26.0-community-continuance upgrade at block 26,790,327 on Aug. 21. While existing holders kept their absolute balances on the chain, the massive one-time mint reduced their collective share to approximately 25.1% of the estimated post-upgrade total. A later bank-supply response showed a live total of 1.44346 billion SCRT, which includes the actual pre-upgrade supply and continuing inflation.
The newly minted tokens have been allocated across several continuity programs:
- 299 million SCRT each for foundation and core-development programs
- 178 million SCRT for an ecosystem fund
- 72 million SCRT each for advisors, research and development, and validators
- 43 million SCRT for builders and relayers
- 44 million SCRT for remediation
The v1.26 economic structure made 308.4 million SCRT liquid on day one and established an ongoing inflation rate of 5%.
Shift to Community-Led Operation
The funding measures arrive as the Cosmos-based layer 1 network prepares for the exit of SCRT Labs, which announced it would conclude development and related support for the network on Sept. 1. Ahead of this transition, Secret Network voters rejected Proposal 360, a signaling proposal from SCRT Labs that sought an Arbitrum snapshot, meaning those terms did not receive an on-chain community mandate.
Although SCRT Labs' support is ending, the network's leadership did not schedule a shutdown. Instead, continued operations depend on validators maintaining sufficient staking power and community backers assuming the technical workload to sustain development and infrastructure.
