A community draft released by former SNF head Lisa Loud proposes a broad overhaul of Secret Network’s token economy after Secret Labs’ exit. Under the plan, a new entity led by Loud would take over the Secret L1 and carry out a one-time large-scale token mint. The proposal says the restructuring would happen through dilutive issuance rather than a chain migration, and it would not remove any existing token holders from the network. Newly minted tokens would be allocated to the new entity, validators, cross-chain relayers, developers, and victims of the bridge hack. The draft also calls for a protocol-level tax to provide ongoing funding for development and infrastructure. An example structure included in the proposal shows the legacy supply being diluted to 20%.
Odaily reported that former SNF head Lisa Loud has published a community draft proposing a restructuring of Secret Network’s token economy.
Under the proposal, a new entity led by Loud would take over the Secret L1 after Secret Labs exits. The plan would use a one-time large-scale token mint to reset the network’s token model.
The draft says this would be done through dilutive issuance, without requiring a chain migration and without excluding any existing token holders. Newly minted tokens would be distributed to the new entity, validators, cross-chain relayers, developers, and victims of the bridge hack.
It also proposes a protocol-level tax to provide continuing support for development and infrastructure. An example framework in the draft shows the legacy supply being diluted to 20%.
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