Privacy Coins + Politics

What is $SCRT

Secret Token (SCRT) is the native coin of Secret Network. SCRT like Monero (XMR) and Dash (DASH) is a privacy coins that guarantees anonymity in that the recipient, and encryption in balance and transaction amount. In fact, the programmable privacy provided by Secret Network ensures anonymity and confidentiality.

$SCRT and Osmosis network

Since November 2021 SCRT has been available to swap on Osmosis network. This allows wallets to obtain $SCRT by using other cosmos tokens like $ATOM, $OSMO, and $CRO.

Use case of $SCRT

This dashboard aims at investigating whether SCRT has political use or not. In other words, whether spikes in use of $SCRT are caused by political issues or not.

Analysis

The graph below shows the daily number of swaps for SCRT and swapper who performed swaps for $SCRT.

The downward trend is clear. However, we can see a period of high number of swaps in end of March and some spikes for instance in specifically the first week of April.

The graph below shows the amount of SCRT obtained by swappers.

We can see a surge in mid-may which is caused by Terra collapse. Other smaller spikes occurred on April 27th, June 3rd and April 2nd.

News anaalysis

Some speculations about the effect of news on spikes whether in terms of number of swappers or amount of swaps:

The mid-may spike most likely are caused by Terra collapse.
The period of high number of swaps into SCRT in April and March would be due to the Russia-Ukraine war. The community Twitter account for Ukrainians was created in April 9th.
The spike on April 8th can be also resulted from an internal development of Secret Network. In the first week of April it was announced that Kevin Smith launches New Film “KillRoy Was Here” with Legendao and Secret Network.

Through Google trend we can see a pick on April 5th in searching 'SCRT token':

Another spike on 27th and 28th of April is caused by the crypto market.

Conclusion

The data and analysis showed that the long term trend of SCRT swapping is declining. However, some incidents resulted in short term increase in swaps. Some of these incidents roots from news about overall market, for instance April 27th, some news about SCRT developments itself, for instance, the first week of April, and some political news, for instance, April 2022.