Secret
SCRT
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Secret Network (SCRT) is an established Cosmos-based Layer-1 blockchain focused on privacy-preserving smart contracts and confidential computing. While the project exhibits strong active development (7.5/10) with recent repository updates through August 2026 and a credentialed founding team originating from MIT (5.5/10), it faces severe headwinds across security, community adoption, and market traction. Community activity is notably weak (2.0/10), with stale governance participation and limited ecosystem engagement. Structurally, tokenomics (4.5/10) suffer from an uncapped, inflationary supply dynamic (7-9% issuance). In terms of market performance (4.0/10), SCRT has experienced an unrecovered ~99% drawdown from its all-time high amid heavy competition. Most critically, the project is subject to a qualifying red-flag event in Security and Audit History (2.5/10): "Secret Network suffered a $4.67 million 'infinite mint' exploit on June 10, 2026, discovered roughly a week later (~June 17) after a failed cross-chain transaction exposed a drained account, per blockchain research firm Common Prefix." This exploit led to compromised backing of bridged saTokens and Axelar disabling its connection. The weighted average score across all sections evaluates to 4.5/10, complying with the 5.0 red-flag cap rule.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Secret (SCRT)
Secret (SCRT) is the native utility coin of Secret Network, a Cosmos SDK-based Layer-1 blockchain designed for privacy-preserving smart contracts and confidential computing. Originating from research at MIT under Enigma-MPC and developed primarily by SCRT Labs, the network incorporates SecretVM for encrypted computation and SecretAI for confidential machine learning inference. SCRT operates on a delegated Proof-of-Stake (dPoS) consensus mechanism and is used for network transaction fees, validator staking, and on-chain governance. The tokenomics feature an uncapped total supply with an ongoing inflationary issuance rate between 7% and 9%.
While development activity has continued across core repositories such as secretvm-externalgrpc and secret-claw, the project has experienced lower community and governance participation. Additionally, following broader Trusted Execution Environment (TEE) hardware vulnerabilities across the industry in the second half of 2025, Secret Network temporarily reverted to permissioned and semi-permissioned validator admission models in software releases v1.22 and v1.23 as part of its remediation efforts.
In June 2026, Secret Network was affected by a $4.67 million exploit on the Axelar–Secret Inter-Blockchain Communication (IBC) bridge. A smart contract vulnerability that failed to verify the source channel of inbound transfers allowed an attacker to mint unbacked Axelar-wrapped saTokens and drain escrowed funds, which went undetected for approximately one week before Axelar disabled the bridge connection. The incident resulted in a loss of backing and effective depeg for bridged saTokens on the network. In addition to security challenges, the SCRT token has suffered an unrecovered price drawdown of approximately 99% from its 2021 all-time high amid declining market momentum.