The first-level blockchain validator for the Smart Stake privacy smart contract has announced the end of support for the 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. Former Secret Labs founder Guy Zyskind told about the financial transparency of the fund, which was created to support the Secret Network community.
Fund founder Tor Bair sold a large number of his own SCRT tokens at the end of 2021, according to Ziskind. Ziskind also said that in the fourth quarter of 2021, the fund received $4 million, which were not accounted for 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 he owned. The information can be verified in the company’s 2021 tax returns, he said. Either way, Smart Stake was not convinced.
Recall that Smart Stake supports networks such as Polygon, Cosmos and Crypto.com. Earlier, Injective Labs announced the launch of a $150 million fund to support developers using the Cosmos ecosystem.
Source: Bits
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