Secret to migrate to Arbitrum, one-time snapshot of SCRT holdings scheduled for September 1

Foresight News reports that Secret Network, a privacy public chain in the Cosmos ecosystem, has announced a partnership with Arbitrum and plans to migrate its SCRT token to the Arbitrum network. On September 1, 2026, Secret will take a one-time snapshot of SCRT holdings, after which a new ERC-20 version of SCRT will be issued on Arbitrum. Holders can claim their new tokens using Merkle proof, without needing to deposit assets in advance or a deadline for claiming.

The snapshot will include native SCRT and staked SCRT (including currently unbinding portions), but will exclude sSCRT, SCRT stored in contracts or liquidity pools, and cross-chain tokens. Users must convert these to native SCRT or staked SCRT before September 1.

Additionally, the team has proposed lowering the SCRT inflation rate from 9% to 5%. After a community governance vote passes, SCRT Labs will cease maintaining Secret Network and release all code under a permissive license as open source. This plan is still a proposal, pending confirmation by an on-chain governance vote.