Smart Stake Ends Secret Network Support

Level 1 Blockchain Validator for Smart Stake Privacy Smart Contract Announces End of Support for Secret Network. The company will close the nodes on February 21st.

The company cited the complexity and high costs of operating as a validator as reasons.. The recent scandal involving the Secret Foundation could also be the reason.. Earlier, Secret Labs founder Guy Zyskind spoke about the financial transparency of the fund, which was created to support the Secret Network community.

According to Ziskind, the founder of the Tor Bair Foundation sold a large number of its own SCRT tokens at the end of 2021. Ziskind also said that in the fourth quarter of 2021, the fund received $4 million, which were not taken into account anywhere.. In general, the founder of Secret Labs criticized the transparency of the Secret Foundation – Thor almost everywhere presented the foundation as a non-profit organization.

Subsequently, Bair stated that he had sold the tokens owned by him.. According to him, the information can be verified in the company's tax returns for 2021.. Either way, Smart Stake was not convinced.

Recall that Smart Stake supports networks such as Polygon, Cosmos and Earlier, Injective Labs announced the launch of a $150 million fund to support developers using the Cosmos ecosystem.