Secret Network Backers Mint 1.079 Billion SCRT Tokens Amid Support Cutoff Looms
Secret Network's backers executed a crucial mint on August 21 to keep the Cosmos-based layer 1 operating ahead of SCRT Labs' September 1 support cutoff. This move came after Proposal 365 passed, scheduling the v1.26.0-community-continuance upgrade for block 26,790,327. The final results from that block confirmed a one-time mint of exactly 1.079 billion SCRT tokens.
The live secret-4 node reported software version 1.26.0 and reached block 26,806,270 after the upgrade, indicating successful execution and continued block production. However, the proposal still leaves development, infrastructure, and validator participation dependent on community execution.
Existing holders saw their collective share reduced to roughly one quarter of the total supply due to the additional tokens. The mint assigned funds to various programs, including 299 million SCRT each to foundation and core-development programs, as well as 178 million to an ecosystem fund.