Secret Network plans to migrate to Arbitrum ecosystem, asset snapshot scheduled for September 1

CoinFeed July 8 news, according to official sources, privacy public chain Secret Network announced it will migrate to the Arbitrum ecosystem, and the SCRT token will be converted to an ERC-20 token on Arbitrum. The migration is scheduled for a snapshot on September 1, 2026. Native SCRT and staked SCRT will be automatically migrated, but sSCRT, SCRT in contracts or liquidity pools, SCRT bridged to other chains, and IBC bridged tokens are not within the migration scope and need to be converted to native or staked state before September 1. After migration, SCRT remains the governance token, and the team proposes to reduce the inflation rate from 9% to 5%. After migration is completed, SCRT Labs will stop maintaining Secret Network and open-source all code. This proposal requires a community governance vote.