Secret Network Proposes SCRT Migration to Arbitrum, Sets Sept. 1 Snapshot
The post Secret Network Proposes SCRT Migration to Arbitrum, Sets Sept. 1 Snapshot appeared on BitcoinEthereumNews.com. Arbitrum News Secret Network has proposed relocating its native token SCRT from the Cosmos ecosystem to Arbitrum, the leading Ethereum layer-2 network, in a plan that now hinges on a community governance vote. The privacy-focused layer-1, which has run privacy-preserving smart contracts on Cosmos since 2020, argues the operating environment has shifted decisively. The proposal would reissue SCRT as an ERC-20 token on Arbitrum, anchoring the project to Ethereum’s deeper liquidity and tooling. A one-time snapshot of SCRT balances is scheduled for September 1, forming the basis for the new contract. Nothing takes effect until token holders formally approve the transition. The team framed security as the most serious driver behind the move. It warned that aging, under-maintained code has become dramatically easier to analyze, and that advances in artificial intelligence a