Figment

Secret Network is a blockchain protocol that enables decentralized applications to perform encrypted computations. Secret contracts can take encrypted inputs and produce encrypted outputs, without exposing any data while it is in-use. 

Secret Network was built with the Cosmos SDK using Tendermint for consensus, and is governed by SCRT token holders.

Stake Now

Rewards Distributed automatically each block
Slashing 5% for double signing and 0.01% for downtime
Inflation If over 67% of the supply is staked, inflation will begin decreasing from 15% to 7%
Unbonding 21 day unbonding period
Compounding Re-delegation is required

Optimizing Staking With Figment

Figment offers peace of mind to its customers and provides the most complete staking experience in the industry

EXPERIENCED & TRUSTED

EXPERIENCED & TRUSTED

Figment is a venture funded, registered Canadian company based in Toronto. Canada offers stability, rule of law and clear crypto regulation.

Serving the world’s largest SCRT holders.

30+ years of experience successfully scaling internet infrastructure companies.

FEATURES & BENEFITS

FEATURES & BENEFITS

Our Commission rate is 10%. 

Active participant in the Secret ecosystem.

Third-party custody solutions are available through our institutional partners. 

SECURITY & SAFETY

SECURITY & SAFETY

The world’s most advanced physical IDC + multi-cloud staking infrastructure.

You maintain custody of your SCRT at all times.

Protected via industry-leading Staking & Delegation agreement.

Looking to stake over 100,000 SCRT?

Get in touch with our team to discuss Prime customers advantages and unlock the full Figment experience

Staking Guide & Instructions

Stake your SCRT tokens in a few clicks by following these steps:

The easiest way to stake SCRT is via Keplr.

  1. Head to https://wallet.keplr.app/#/secret/stake.
  2. Find Figment in the Secret validator set and click the “manage” button.
  3. Click “delegate”.
  4. Enter the amount you want to delegate. Remember to keep some SCRT available to pay for transaction fees.
  5. Click “delegate” and then click “approve” to approve the transaction.

Figment's Validator Address

Need more detailed instructions?

See full guide

Secret Network FAQ

Secret Network’s native token, SCRT, is used for staking and to pay network fees

Staking rewards and transfers are both currently enabled.

Good question!

Initially, SCRT is being staked to earn new issuance (“inflationary”) subsidies. That means that the SCRT supply will increase and stakers will capture the newly issued SCRT. Generally, you will earn around 20% annually on your staked SCRT, but that can change. Since staking rewards are tied to inflation, read about how inflation and rewards are related here.

Stakers will also capture fees from network transactions, so as Secret transaction volume increases, SCRT stakers will earn more than new issuance subsidies.

SCRT also gives stakers the right to vote on policy decisions for how the Secret Network will operate and distribute treasury funds.

From the moment you initiate the unbonding process, it takes 21 days to unstake. During this time you will not earn rewards. When the process is complete, you can transfer/trade your SCRT tokens.

You can self-custody your Secret Network SCRT tokens, ideally using a Ledger hardware wallet. Here are instructions for using your Ledger wallet with Secret.

Figment has partnerships with a number of top-in-class custodians: support@figment.io

Yes, a portion of your staked SCRT can be destroyed. There are two ways this can happen:

  1. If you delegate to a validator that is offline for over 4 consecutive hours (assuming 6s block times), you will lose 0.01% of the tokens you have delegated to that validator.
  2. If you delegate to a validator that signs the same block twice with the same key, you will lose 5% of the tokens you have delegated to that validator.

Staking income on Secret is automatically distributed every block. Figment is never in control of your rewards.

Staking income is liquid, which means you will not need to unstake to withdraw your staking income. New delegation required for liquid rewards.

Yes. If your the validator you delegate to is offline for 4+ consecutive hours, the validator will be jailed, during which time the delegators will not earn rewards. After a one-hour period, the validator operator must submit a transaction to resume operations in order for delegators to resume earning rewards.

The new issuance (“inflation”) rate is around 15% of the total supply. When under 67% of the supply is staked, the rate gradually increases to a maximum of 20%. When above 67%, the rate gradually decreases to a minimum of 7%.

The Secret Network uses on-chain governance that is nearly identical to that of the Cosmos Hub. You can watch proposal activity here. They also have a governance token, SEFI, that will be slowly distributed over the next 4 years. 

Governance discussions take place on the Secret Network forum.

Additional Resources

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