Now that Secret Contracts are LIVE on mainnet, our intentions are to address the problems of decentralized finance (e.g. front running) by creating a suite of products with programmable privacy features and liquidity-based use cases. Below is a summary of what the Secret Network community plans to implement ~ all of these products are interconnected, giving rise to the strength of open finance: accessible, interoperable and sustainable organizations.
Description: Named after the ERC-20 token standard, SNIP-20 (a.k.a. Secret-20) is a standard for building fungible Secret Tokens based on Secret Contracts. Wallets, exchanges, and other products in our ecosystem benefit from a consistent approach used to create privacy tokens on Secret Network. The balance of holders (state of the contract) and transactions (inputs and outputs of the contract) are fully encrypted. Secret Tokens are the building blocks of Secret DeFi applications with composable value structures and privacy network effects.
Description: This would allow moving ETH and ERC-20 assets (along with Secret Tokens) between Ethereum and Secret Network. The process locks up ETH and mints an equal amount of secretETH, based on the Secret Token standard.
Description: Secret Network is positioned as the privacy hub in the Cosmos ecosystem as Inter-Blockchain Communication (IBC) is getting deployed. Our first collaboration is with Terra to allow privacy-preserving stable coin transactions.
Description: Users can pool SCRT in a secret contract, which chooses how to stake pooled SCRT across validators in the network, while issuing a synthetic staking derivative token (e.g., dxSCRT). In that sense, SCRT serves as collateral; dxSCRT is a liquid token, so it can be used or traded immediately. Because dxSCRT is a standard Secret Token, our staking derivative would also be private.
Description: This product enables users to exchange assets on the Secret Network. Participants create Secret liquidity pools and facilitate swaps between any two assets on Secret Network. Initially, we want to focus on secretSCRT, secretETH, secretERC-20s, secretATOM, and other secretCosmos tokens.
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