September 21, 2023

Smart Stake Ends Secret Network Support

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1 min.

Smart Stake Ends Secret Network Support

The first-level blockchain validator for the Smart Stake privacy smart contract has announced the end of support for the Secret Network. The company will close the nodes on February 21st.

The company cited complexity andhigh costs of operations as a validator. The recent scandal involving the Secret Foundation could also be the reason. Earlier, Secret Labs founder Guy Zyskind spoke about the financial transparency of the fund, which was created to support the Secret Network community.

According to Ziskind, the creator of the Tor Bair Foundation (TorBair sold a large amount of its own SCRT tokens at the end of 2021. Ziskind also said that in the fourth quarter of 2021, the fund received $4 million, which were not taken into account anywhere. In general, the founder of Secret Labs criticized the transparency of the Secret Foundation - Thor almost everywhere presented the foundation as a non-profit organization.

Bair subsequently stated that he had sold the tokens,owned by him. The information can be verified in the company's 2021 tax returns, he said. Either way, Smart Stake was not convinced.

Recall that Smart Stake supports such networkslike Polygon, Cosmos and Earlier, Injective Labs announced the launch of a $150 million fund to support developers using the Cosmos ecosystem.