Secret Network and SushiSwap partnerships and opportunities

Hello SushiSwap community,

Would you be interested in transactional privacy for your Sushi?

At Secret Network we are building a privacy preserving smart contracting platform and bringing privacy to Ethereum assets 2 through the bridge we built between Ethereum and Secret Network. The bridge is live and currently has a TVL of $66m as of today Feb 18.

We’ve added SUSHI to the bridge, which enables holders to create wrapped SUSHI with privacy, which we would call secretSUSHI. This is similar to an ERC20 on our network, yet since contracts are encrypted tokens issued with contracts, your wrapped secretSUSHI become privacy tokens. secretTokens are already live on Secret Network

Holders of secretSUSHI can:

  • Privately transact (like zCash) secretSUSHI on Secret Network
  • Redeem secretSUSHI to a new ETH address to achieve transactional privacy on ETH, which is similar to Tornado Cash (at ~30% of Tornado’s cost)
  • Participate in a front-running resistant AMM, SecretSwap, which launched yesterday, trading secretSUSHI for a number of other wrapped ERC20 tokens for small fees (~$.08-15c) with trades that are completely private
  • Provide liquidity with secretSUSHI to secretETH (or secretUSDT etc) on our SecretSwap and earn rewards (details of airdrop TBD)
  • Participate in our bridge mining rewards program, which was extended for 6 more weeks – our weekly snapshot for bridge mining rewards is Tuesday, and we have a lower threshold of $250k USD to qualify the token for bridge rewards. So bridge mining for secretSUSHI would start if $250k is bridged into our network, you can check under “assets” on our secretswap (currently ETH and DAI and others earning around 25% APY)

Holders of WSCRT who are active on SushiSwap LP farming can:

  • Participate in SushiSwap rewards program, providing liquidity on SushiSwap for our ERC20 token, (WSCRT/ETH). WSCRT rewards to LPs on SushiSwap will begin on Monday, February 22.

We believe privacy is important and we are here to provide value to the Sushi ecosystem.

6 Likes

What happened to sushi these two days? The price has been falling all the way

Recently created an Onsen proposal for WSCRT - WETH pool Onsen proposal - WSCRT

It is great that secretSUSHI has been on the Secret Network bridge and that SUSHI holders can earn some SCRT tokens without impermanent loss. I also love the fact that the Secret Network is moving their incentivized LP from Uniswap to Sushiswap. This can be just the start.

There are so many possibilities with programmable privacy and would love to see both teams exploring potential collaborations and partnerships together. It will benefit both (including their communities).

1 Like

The price of sushi should be raised. Now the trading volume of sushi is not as high as uni, and it has fallen behind