SCRT - Worth Buying...?

revisesociology in #hive-167922 • 2 years ago

Secret is a relatively new blockchain built on Cosmos and bills itself as the only smart contract blockchain which offers privacy to users through end to end encryption.

Screenshot 2022-05-27 at 19.21.27.png

The Project's Website makes the bold claim that Secret offers all of the benefits of ETH, Monero and ATOM combined (with any of the weakness ironed out presumably) - so that's basically everything else every other new project offers such as scaleability, fast transactions, low fees, but PLUS the added bonus of privacy.

And the Dapps page certainly suggests there is the functionality to build DEFI, Gaming, NFT and data storage applications with the added bonus of end to end encryption.....

Screenshot 2022-05-28 at 14.15.00.png

HOWEVER, if you take a deeper dive - there's not a lot going on with many of these projects - many of the links just take you twitter accounts or shells of Websites.

One functioning app I did find was the Shade Protocol (thanks to an airdrop!) but this is just yet another DEFI project.

Secret Price and Tokenomics...

There is an initial supply of 170M with only around another 30M to be unstaked to the team over the next couple of years and then an inflation rate of 7-20% depending on the proportion of SCRT staked.

ATM staking SCRT seems to be just about the only use case for it - staking to validators in a DPOS system to earn around a 24% yield, which isn't too bad.

As to the price of SCRT..... hmmm this sort of screams 'we just had a bull run, that's now over'....

Screenshot 2022-05-28 at 14.01.52.png

So we can certainly say that SCRT peaked people's interest during the bull run, but not so much ATM.

However if previous interest is anything to go on, SCRT is now cheap.

SCRT - Worth Buying? Final Thoughts...

The project reads well, it has a pretty web site and on the surface it seems to have potential - I mean what's not to like about a chain that offers all of those Smart Contract Functionalities with added privacy?

And if you think Privacy coins are the future this might well be worth a punt, and in the meantime you get a 24% APY just for staking it with only a 3 week lock on COSMOS...

Screenshot 2022-05-27 at 19.24.32.png

The problem with SCRT is the same as with so many other chains - there's a lot of promise of DAPP development, but once you lift the hood there is not a whole lot actually being produced that works right now!

Posted Using LeoFinance ^Beta

#crypto #cent #leo #privacy #alts #proofofbrain #vyb #leofinance

2 years ago in #hive-167922 by revisesociology

9.66 VYB

Sort:

Trending

[-]

poshtoken 2 years ago

_{The rewards earned on this comment will go directly to the people(@leoalpha) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.}

0.00 VYB

[-]

melbourneswest 2 years ago

I used to have a significant stack of Secret but it was paired with UST and I got rekt.

I am scared of algorithmic stable coins now.

Posted Using LeoFinance ^Beta

0.00 VYB

[-]

revisesociology 2 years ago

Oh shit that's annoying - on Osmosis I guess that was!?

Damned UST, I was lucky only to lose $1000.

0.00 VYB

[-]

melbourneswest 2 years ago

I originally had it on Kepler Wallet and then moved it to Terra Network to join a pool there and then..... crash 😞

Posted Using LeoFinance ^Beta

0.00 VYB

[-]

revisesociology 2 years ago

Can't win 'em all!

0.00 VYB

[-]

india-leo 2 years ago

This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.

_{Please contribute to the community by upvoting this comment and posts made by @indiaunited.}

0.00 VYB

[-]

pocketrocket 2 years ago

Interesting. Where do you buy and stake it? Cosmos is eth based or bnb?

0.00 VYB

[-]

revisesociology 2 years ago

You can stake and buy it via Osmosis - i use the Kepler Wallet.

0.00 VYB

[-]

olympicdragon 2 years ago

I have a few Atom tokens. I can buy SCRT and stake it. Or just buy and hold. I noticed it before but never bothered !

Posted using LeoFinance Mobile

0.00 VYB

[-]

revisesociology 2 years ago

It might be worth a punt! I quite like ATOM too!

0.00 VYB

[-]

hivebuzz 2 years ago

Congratulations @revisesociology! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

You have been a buzzy bee and published a post every day of the week.

_{You can view your badges on your board and compare yourself to others in the Ranking}
_{If you no longer want to receive notifications, reply to this comment with the word STOP}

Check out the last post from @hivebuzz:

Hive Power Up Day - June 1st 2022

0.00 VYB

[-]

gangstalking 2 years ago

They literally have attempeted my murder and are trying to kill me with V2K and RNM. Five years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism ..... https://ecency.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem

0.00 VYB

1 vote

[-]

cflclosers 2 years ago

First, I can't believe I wasnt following you. So, I fixed that. As far as the above, the way you describe it would be that it is speculation. I can't speculate anymore, I just need to stick to speculating within Hive lol. Still too much to do and see around here. When I try to get cute off chain, I get burned. Most of these dapps don't need to be invented nor do the chains because Hive actually does a good job at most of them. Decentralization has us such a secret. It's too bad but while hive is still very much in the shadows it gives us time to accumulate.

Posted Using LeoFinance ^Beta

0.00 VYB

[-]

revisesociology 2 years ago

Oh don't get me wrong I'm big on Hive - and really most of these things are speculation, I do quite like ATOM though!

Thanks for the follow.

0.00 VYB

[-]

cflclosers 2 years ago

I'm not familiar with ATOM. I'll take a look.

Posted Using LeoFinance ^Beta

0.00 VYB