Secret Network Announces Migration to Arbitrum, SCRT Snapshot Scheduled for September 1

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Secret Network, a privacy-focused blockchain within the Cosmos ecosystem, has announced a network upgrade to Arbitrum. The project will migrate its native token, SCRT, to the Arbitrum network. A one-time snapshot of SCRT holdings will take place on September 1, 2026. A new ERC-20 version of SCRT will be issued on Arbitrum, and holders can claim their tokens using a Merkle root proof. The snapshot will include native SCRT and staked SCRT, but exclude sSCRT and cross-chain tokens. The team has also proposed reducing SCRT’s inflation rate from 9% to 5%. If approved via on-chain governance, SCRT Labs will open-source all code.

ME News reports that on July 8 (UTC+8), Secret Network, a privacy-focused public blockchain within the Cosmos ecosystem, announced a partnership with Arbitrum, with plans to migrate the SCRT token to the Arbitrum network. Secret will take a one-time snapshot of SCRT holdings on September 1, 2026; following the snapshot, a new ERC-20 version of SCRT will be issued on Arbitrum, and holders can claim their tokens via Merkle root proof without needing to deposit assets in advance or adhering to a claim deadline. The snapshot will include native SCRT and staked SCRT (including portions currently unbonding), but will exclude sSCRT, SCRT held in contracts or liquidity pools, and cross-chain tokens. Users must convert such assets back to native SCRT or staked SCRT before September 1. Additionally, the team has proposed reducing SCRT’s inflation rate from 9% to 5%. Upon approval via community governance voting, SCRT Labs will cease maintaining Secret Network and open-source all code under a permissive license. This proposal remains pending confirmation through on-chain governance voting. (Source: Foresight News)

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