Secret Network — Shade protocol — Private burn-based algorithmic global stablecoin.
This is just entertainment and pure fun!
Secret Network is one of the most exiting chains for me in ATOM COSMOS world. Programmable privacy.
Other L1 are completely public, you see all the transactions happened on-chain. Somebody has nice Twitter PFP, hmm lets see what other stuff he/she has. My neighbour and friends can track me too if they know my puplic keys. Im not fan of taxes, but you have to pay them. There is also no escape in current L1, since all info is public, you will get rekt in the end if you try to avoid taxes.
I wanna pay my taxes but i dont want my neighbours and friends to see my account balance, what can you do? For taxman i have to prove i didnt “cheat” so i have to provide them with something — enter the viewing keys. These i can share for eg to tax authorities. Nobody else can see the data if i dont provide these viewing keys. Me as end user have full control with who and where i want to share my data.
I believe the future simply wont be this 100% public solution, but also 100% private too wont be the solution, something between would work and make everybody happy? This programmable privacy solves so many problems and adds so many useful use cases for this exiting new web3. I will definitely follow and lear more about secret network, im still beginning of my journey here. Protocols below are the ones im currently following.
Shade Protocol {S = S}
What got me really exited here was this shade protocol. To simply put its like Terra Luna on steroids with added privacy. I am huge fan of Terra Luna. I cant recommend enough to listen this:
I highly suggest deep diving also to the whitepaper if you are not familiar with algo stables: https://shadeprotocol.io/pdf/Shade2.pdf
To add that for entry minting also sATOM could be possible. Shade is here the asset that captures all the value from the ecosystem:
- Captures fees via the use of Shade protocol.
- Dividend's from shade tresury?
- DAO token too, vote etc.
- Value from entry minting to shade and silk.
Sounds too good to be true? Yes, this is still experiment level… It has lot of innovation and i will keep my eyes open and follow. It all boils down to can this grow. I think the secret community is super strong so it has some legs to go, cant wait for the launch and watch this possibly grow or go straight to the bin. Definitely will take part and watch, we will get the panic, euphoria, all hope lost, rebound. Anything is possible for these.
Im really big fan of privacy and protocols like these which are very innovative, but is secret network and shade the answer? Future simply needs these kind of protocols, it solves privacy issues and stablecoins are most important products of cryptos. I want to believe in this!!!!
Haven XHV is similar product and CTO Larson has made awesome videos about XHV and i recommend whole channel. Awesome content and educational.
These need constant grown, look what Terra Luna is doing? These need GROWTH, Terra still has risks, but it showed that these can succeed.
Ps. Follow both youtube channels very educational, they gave me so much.
