Secret Migrates to Arbitrum, Snapshot of SCRT on September 1

Secret Network has announced a collaboration with Arbitrum, planning to migrate the SCRT token to the Arbitrum network. Secret will take a one-time snapshot of SCRT holdings on September 1, 2026, after which a new ERC-20 version of SCRT will be issued on Arbitrum. Holders can claim their tokens using a Merkle root proof, without the need to pre-deposit assets and with no claim deadline. The snapshot will include native SCRT and staked SCRT (including those being unstaked), but will not include sSCRT, SCRT held in contracts or liquidity pools, or cross-chain tokens. Users must convert their tokens back to native SCRT or staked SCRT before September 1. Additionally, the team has proposed to reduce the SCRT inflation rate from 9% to 5%. Once approved by community governance voting, SCRT Labs will cease maintenance of the Secret Network and open-source all code under a permissive license. This proposal is still pending confirmation through on-chain governance voting.