The Shockwave Omega upgrade will happen tomorrow, enabling the registration of nodes again.
Secret Summit will happen on Thursday December 15th, if you haven’t signed up yet do so asap at https://scrt.network/summit
A proposal to create a viewing key assistant and/or permit generator was pitched an will be posted on the forums in the near future
Proposal #124 contains a typo and is requested to vote ‘No’ on in order to return the deposit to the proposer. Proposal #125 is the correct version with the correct spend amount.
We had a successful network upgrade last week, more API nodes are up and performance seems to be improved!
The incentives for the Kujira BOW SCRT-USK liquidity pair are now in the on-chain funding period. It was posted a little before the 7 day discussion period was over but this is not intended to set precedent with this. In future it will abide by the Secret Network Charter.
Red Eyed Bear and Hasseeb are working on a viewing key assistant with Secret Saturn and Kent. They are planning to post a proposal on the forums to fund a permit generator later this week.
Secret Dashboard is being developed by Secret Saturn to be a landing page for users to easily discover what they can do with SCRT.
Due to the holidays there will not be a governance call next week, we meet again in the new year on January 2nd.
Happy New Year and let’s work together to make the most of 2023!
Feedback on Secret 2.0 can be submitted on the forums until January 15th. Please share your thoughts in the next 2 weeks if you haven’t already.
AgoraNodes has proposed a Discord and Telegram tipbot that supports a number of SNIP-20s. A number of community members were skeptical about yet another tipbot being funded by the community pool. This bot seems to have more features than a typical tip bot.
Hasseeb previewed his Permit Generator and Query Viewer as currently being showcased on CryptoClerk. There may be a proposal in the next weeks to open source this tool and allow easy integration in different frontends.
Action Points
Think about what should be included in the Secret Network Code of Conduct and what should not be
One week is left for feedback on the Secret 2.0 discussion on the forums. Please add your thoughts if you have not already!
Shade is planning to have their application on mainnet for 2 to 4 weeks before restarting the discussion regarding dApp incentives on the forums. After 7 days it will then move on-chain. There is optimism about a launch in the next 3 weeks.
We had a brainstorm on an update to the Secret Network Code of Conduct, specifically on what should be in it and what should not be. Currently it seems that people are quite happy with the current Code of Conduct, it’s just that the enforcement aspect is not fleshed out. Getting an enforcement process right will require broad support from the community.
The proposal resulting from the Secret 2.0 discussion will come to the forums in the next few weeks (likely February).
Secret University will post the funding request for their second milestone on the forums on Wednesday and present it next Monday during the governance call.
SCRT Labs is considering an express proposal type to quickly change parameters in urgent situations. Such a proposal type would require a higher threshold and quorum.
Creation of liquid staking like functionality at the core layer was brought up. There exists interest for such a functionality but it also raises a number of questions regarding implementation and security.
Secret Foundation will present their 2022 Q3 and Q4 Transparency Report on February 6th during the Monthly Governance call.
The discussion surrounding a maximum validator voting power percentage parameter has resurfaced (it was mentioned during the minimum validator commission discussion). This signal is intended to find out whether the community would like to implement such a feature.
The biggest argument against a maximum VP% is the risk of sybil validators. This proposal isn’t so much meant to be a method to increase decentralization, but instead act as a failsafe against centralization.
Secret University (SU) presented their second spend proposal, including a lookback on the first milestone, and what lies beyond milestone 2. They want to focus Milestone 2 on expanding knowledge and bringing the platform to a polished state, currently it’s in an MVP state. Further expansions to the platform are planned beyond Milestone 2 and could include dev teams, a jobsboard, and similar features.
SU is considering alternative funding methods after this second spend request to the community pool. Currently a tax, or the Secret 2.0 dev pool, is under consideration. This aspect will however not be included in this current proposal text.
A maximum Voting Power parameter would not be too difficult to implement. If this proposal passes SCRT Labs will implement it in a future upgrade.
The Secret University proposal will be changed after feedback from the community, focussing more on lessons on SCRT specific features and educational materials over non-SCRT topics and platform improvements.
The Dev committee proposal will go to the chain today, for future funding periods the current leads are open to make room for new contributors. If you are interested please reach out during one of the dev calls.
A proposal to temporarily redirect the SF tax to a Secret Agency multisig will go to the chain today. This proposal is intended to make the transition to a new NPO Secret Foundation as smooth as possible for the Secret Agency. The proposal includes a hard deadline of 3 months after which a new on-chain proposal would be required to prevent it becoming a permanent solution.
A proposal by SCRT Labs and the community detailing the next steps in restructuring into a new Foundation that is an NPO will be posted on the forum in the next few days. The goal is to have a neutral proposal that can bring the community together. Tor has already seen this proposal and SCRT Labs is currently waiting for his feedback.
We should make a survey for the community to get feedback on our fees, what users find important, and what they value a tx at.
The 10% maximum VP proposal is for a large part meant to be a protection mechanism against centralization and becoming too dependent on individual operators.
An alternative approach to increase decentralization was discussed where a progressive community pool tax is levied on delegations to validators that have more than 5% VP. This could for example reduce the apr of the number 1 and 2 validators by 1 or 2% which would then be redirected to the community pool.
The Commonwealth team joined our Governance call to give a rundown on what their platform can do and will be able to do in the near future. Their team will work with gov to work on a signal proposal on whether the community wants to switch to Commonwealth for governance discussions.
Commonwealth is free, and the core functionality will be free forever. We will share details related to planned monetization in the signal proposal. There is no ‘owner’, only admins and moderators. All Discourse data can be imported to a commonwealth instance.
The Secret Agency presented their 2022-Q4 Executive Summary and answered questions from the community. Next week we will dive into KPIs and how they can be improved.
The v1.7 upgrade is likely to occur on March 1st and should be moving on-chain in the next few days.
SCRT Labs is reevaluating their delegations to validators, the form to share your contributions is open until March 15th.
There are several scam proposals currently in the depositing or voting periods, please do not click the links in these proposals. Several measures to reduce the chances of this happening will be implemented going forward.
The API team will be posting their next proposal on the forums in the next few days, reflecting on the past period and looking forward to the next one. Performance seems good and the complaints / questions about Keplr issues have drastically reduced.
The Secret Agency KPIs were discussed in a brainstorm and several tangible improvements have been suggested, mostly focusing around providing more details. Going forward they will share the metrics more often so they can be iterated over and continuously be improved.
If you know anyone at a university that researches or teaches blockchain topics, or is involved with a blockchain club / society, please fill in this form: Book A Secret Workshop!
A lot of scam proposals are currently in the voting period, please be careful with the links in them and never enter your keyphrase.
Fadroma will propose a milestone based funding of their development tools after proposal 143 fails. They will also update the proposal with more recent numbers and feedback from developers using their tools.
The API team will go to the forums in the next days with their proposal, some teams are having some issues with getting BIOS upgrades from hardware vendors that are struggling to get these upgrades out.
If we start accepting IBC coins for fees it seems likely that immediately swapping it to SCRT would convince more people this is a good idea as this increases buying pressure. IBC coin fees should probably be higher than the native SCRT fees as well, but by what amount is not clear. Overall this is a contentious topic but the community wants to make it as easy as possible to start using Secret. Fee grants could be great tool for this as well.
The API team proposes to consist of Trivium, Blizzard, Saturn, Consensus One and Taariq for the upcoming period with a total of 74 API nodes. The combined load balancer will transition into a DNS based solution using round robin logic.
Expedited proposals were added in 1.7 and will allow us to quickly make changes to parameters or schedule upgrades if necessary. In principle these shouldn’t be used for spending proposals and we will be including these aspects in the next version of the Secret Network Charter. Next week we will discuss the ideal parameters for and circumstances around expedited proposals.
The ActiSwap team is proposing to build a private p2p swap under the CCBL umbrella. Their UI will conform to legal requirements, including blocking content that is hit by a DMCA or equivalent notice. Not just for the marketplace, but also for the p2p aspects.
The Testnet committee is planning to launch a relayer between SCRT and JUNO testnets in the coming period. They will also look into setting up a stagenet or other options to improve testing of upgrades before they hit mainnet.
Thanks Mook, just wanted to correct this, what’s running now is a relayer for Axelar/Secret, and a full node for Osmosis.
Juno and Osmosis is just for additional full nodes, so that existing relayers have access to websocket endpoints.
This was a blocker for Shade’s testing last month, because available public endpoints didn’t enable websocket.
Just wanted to clarify that we’re supporting relayers by doing this, not necessarily running relayers for all.
The US changed to DST the past weekend and thus all Secret calls have switched to DST timing. The next governance call will be on March 27th at 15h00 UTC.
Validators have until March 15th to submit their SCRT Labs delegation forms, redelegations should be finished by the end of March.
It would be nice to have a separate parameter for the expedited quorum as well as an minimum initial deposit parameter included in the next upgrade. Doesn’t seem very urgent since our community should be more than able to veto any dangerous proposals.
Expedited proposals are meant for upgrade props and parameter change proposals, maybe we should just disable it for text and spend props? Alternatively we add it in the SN Charter.
Axelar tokens will be autowrapped to their SNIP equivalent thereby making the UX a lot better. Other IBC tokens / coins may also be included down the line.
IBC coin fees on Secret would improve UX, similar to fee grants. It seems easier to implement than fee grants, especially for smaller teams. However, autowrapping will make it impractical to use IBC coins for fees. Looking at allowing SNIPs for fees would be interesting to keep this functionality.
Native contract migrations are likely coming in a few months, currently it seems that ‘old’ contracts will need to pass a governance proposal to set the admin address.
The Digiline team gave an interactive demo of the progress on Dibs domains (formerly known as Secret DNS, funded through proposal #115). They are considering a proposal to pre-sell the .scrt TLD to the Secret community in order to raise the necessary funds to get a MVP on mainnet.
The community seems to not want to fund audits through the Community Pool except for ‘essential infrastructure’ that has no other viable avenue of funding. The Community Pool should be the last resort.
Next week we will discuss ways to encourage responsible use of the Community Pool.
Secret Surge is being discussed on the forums, every 1 USD of SCRT incentives will be matched by 3 USD worth of dApp incentives. The SCRT portion will be funded 50% by SCRT Labs, 25% by the Terra Dev Fund, and 25% by the Community Pool (pending on-chain approval).
A discussion is currently on the forums to decrease the max gas per block to 6M from the current 8M in order to ensure blocktimes won’t be longer than the 6s target after the upcoming dApp launches.
The Agency temporary tax will run out its mandate on May 6th, with the new foundation not being set up yet there is uncertainty where their funding will come from in the short term. A monthly bandaid solution, for example community pool funding, is probably the best short term solution.
Next week the Secret Agency will present their Q1 Executive summary in the gov call.
The Secret Surge proposal should hit the chain tomorrow, including the first funding request from the community pool.
An expedited proposal to lower the maximum gas per block to 6M is currently in the voting period to ensure the upcoming dApp launches are as smooth as possible. The aim is to incrementally increase the limit in the weeks following the initial surge of dApp launches.
The Secret Agency 2023-Q1 Executive Review presentation has been postponed to next week’s Governance call (April 17th).
Curating on-chain proposals to better inform the Secret validators could lead to better spending habits from the pool. How to best implement something like this is not clear yet and Secret 2.0 could already solve some of these issues.
At the current spending rate and SCRT price point the pool will likely run out in the next few months. Next week we’ll discuss some of the scenarios based on past spending rates.
Despite Tor’s persistent efforts behind the scenes to dissuade me from sharing my stance as a stakeholder on this matter, I must bring it up again and ensure it’s apart of the official record. After discussing with others, it seems people generally concur that a new NPO shouldn’t automatically hire existing foundation staff. Expressing this view is my right, and it’s not a controversial statement.
Setting aside the numerous ethical considerations, including fraud, misconduct, and racist comment made by Jay Wadhwa. On a strictly performance level, the foundation has failed to deliver real public KPIs or demonstrate good ROI for most positions or gotten buy in from the community on the team itself. This organization has also been unable to fulfill even the most basic aspects of Proposal 103: https://secretnodes.com/proposals/103 such as putting the transparency reports in an easy to find place. Both the new and old organizations would have been funded by community funds and it subjects both to answering to the community and it would be very inappropriate for a back room deal to be decided on behalf of the community on how community funds would be spent.
Additionally, it has been indicated to me that Eric Tor Bair is considering delaying the transition of funds related to these matters, if that is in fact true then @tor should disclose that publicly, rather than using it as leverage to try and stop me from speaking about my governance stances. From what I can tell, It is a direct violation of the neutrality clauses in proposal 103 for the foundation to leverage against me in this manner.
Note: I will not be participating in a dedicated thread on these matters but I’d be happy to discuss them on public calls. I’m just wanted to add this to the governance record.
Lets get a better view, who is foundation? We should include the whole organisation (Secret Foundation, Secret agency) and whatever is attached to it. Looking at the latest numbers there is flowing A LOT of community resources to both of them. Curious about the upcoming summary, hope it will be a bit more specific instead of just numbers without any meaning of ROI and specific use.
Secret Surge is on target to pass tomorrow, with incentives immediately being passed on to the dApps included in Surge. Blizzard, ShadeLend, and SILK are scheduled to launch very soon and SecretSwap 2.0 launched on testnet today.
Secret Agency presented their 2023Q1 Executive Review and will publish it most likely next week. Currently ~180k SCRT is still available and the community should decide how they want to use these funds, Agency could use it to run for another 2 or 3 months after the tax ends. If the community does not put up a proposal, Agency will put up a proposal to reduce the tax to 0%.
A community proposal is currently being discussed on the forums to set deliverable for the Secret Foundation wind-down.
Lumi and Sandman are leaving the Dev committee in early May, in what form the dev committee will continue and with whom is not yet known.