Secret Network's SCRT Supply Quadruples After Community Governance Decision
The Secret Network has seen its SCRT supply quadruple to 1.443 billion tokens after a governance decision by the community.
The upgrade, which took effect on August 21 at block height 26,790,327, triggered a one-off issuance of additional tokens without taking anything away from existing holders.
This 'dilution mint' means that each holder's absolute number of units stays unchanged, but their percentage share of total supply and voting weight has decreased to around 25%.
The new tokens were allocated to a foundation, ecosystem fund, validator programme, advisers, and compensation for those harmed in earlier incidents.
Out of the new SCRT, around 308 million are freely available immediately, while the remainder is subject to lock-ups but can be staked during the lock period.