What is the issuance price and issuance amount of Secret(SCRT) currency?

Secret Network's initial token supply was 150 million SCRT, distributed across funding rounds, the team, and various funds for development and community initiatives.

Dec 09, 2024 at 11:32 pm

What is the Issuance Price and Issuance Amount of Secret(SCRT) Currency?

Secret (SCRT) is a decentralized blockchain platform that enables the development of privacy-preserving applications. Its native currency, SCRT, plays a crucial role in the network's operations, including transaction fees, staking rewards, and governance. This comprehensive guide delves into key details regarding SCRT's issuance price and issuance amount.

SCRT Issuance Price

Secret Network went through two funding rounds before its mainnet launch in February 2020:

• Seed Round (2019): Sold 50 million SCRT tokens at a price of $0.05 per token, raising a total of $2.5 million.
• Series A Round (2020): Sold 40 million SCRT tokens at a price of $0.15 per token, raising a total of $6 million.

The average issuance price of SCRT across these funding rounds was:

Average Issuance Price = ((50,000,000 * $0.05) + (40,000,000 * $0.15)) / (50,000,000 + 40,000,000)
Average Issuance Price ≈ $0.07

Therefore, the average issuance price of SCRT was approximately $0.07.

SCRT Issuance Amount

Secret Network's initial token supply was set at 150 million SCRT. This supply distribution was as follows:

• Seed Round: 50 million SCRT (33.33%)
• Series A Round: 40 million SCRT (26.67%)
• Team and Advisors: 25 million SCRT (16.67%)
• Development Fund: 20 million SCRT (13.33%)
• Community Pool: 15 million SCRT (10%)

Token Allocation Details

1. Seed Round (50 Million SCRT)

• 12-month lock-up period, followed by a gradual release over 24 months.
• Used to fund early development and team building.

2. Series A Round (40 Million SCRT)

• 6-month lock-up period, followed by a gradual release over 18 months.
• Used to accelerate development, expand ecosystem partnerships, and enhance marketing efforts.

3. Team and Advisors (25 Million SCRT)

• 24-month lock-up period, followed by a gradual release over 24 months.
• Reserved for early contributors, team members, and advisors who played a pivotal role in the network's early stages.

4. Development Fund (20 Million SCRT)

• No lock-up period.
• Used to support ongoing development, research, and ecosystem initiatives.

5. Community Pool (15 Million SCRT)

• Controlled by the community through governance proposals.
• Used to fund community-driven initiatives, such as developer grants and ecosystem development.

Conclusion

The issuance price and issuance amount of the Secret (SCRT) currency are crucial aspects that shape the network's economic dynamics. With an average issuance price of $0.07 and an initial supply of 150 million SCRT, the network has laid the foundation for a sustainable and vibrant ecosystem that prioritizes privacy and innovation in the blockchain industry.