{"id":185764,"date":"2021-03-31T21:09:42","date_gmt":"2021-03-31T20:09:42","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=185764"},"modified":"2024-02-24T19:38:15","modified_gmt":"2024-02-24T19:38:15","slug":"sefi-is-live-on-mainnet","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/sefi-is-live-on-mainnet\/","title":{"rendered":"The native governance token for Secret DeFi and SecretSwap: SEFI is live on mainnet"},"content":{"rendered":"

Hello to the Secret community!<\/p>\n

Today we are extremely excited to announce the genesis distribution of SEFI – native governance token for Secret DeFi and SecretSwap, the first AMM launched on Secret Network. But we\u2019ve got some other surprises as well:<\/p>\n

We\u2019re also announcing the\u00a0launch of a new landing page for SecretSwap<\/a>, helping introduce the unique and evolutionary features of Secret DeFi –\u00a0front-running resistance, cross-chain liquidity, lower fees, and additional privacy protections for users.\u00a0<\/strong>This marks the beginning of a broader visual redesign for SecretSwap that will make it more usable and functional!<\/p>\n

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\"The
The new\u00a0secretswap.io<\/a>.<\/figcaption><\/figure><\/figure>\n

In addition, we\u2019re excited to share that\u00a0routing functionality for SecretSwap<\/a>\u00a0is now live on mainnet!<\/strong>\u00a0This functionality allows for better prices for swaps, more fees for LPs, and more SEFI for everyone. Thanks to everyone who helped test this new feature.<\/p>\n

To complement routing, the\u00a0sSCRT \/ SCRT pair\u00a0<\/strong>has now been added to SecretSwap! This now allows users to convert their SCRT directly into any secret token (and back), adding convenience and easing friction.<\/p>\n

SecretSwap<\/a>\u00a0has been live on mainnet since mid-February as a \u201csoft launch\u201d before SEFI genesis. Since then, we\u2019ve attracted more than\u00a0$90M in TVL<\/strong>\u00a0to the\u00a0Secret Ethereum Bridge<\/a>\u00a0and $6M in liquidity to SecretSwap pools. Today\u2019s launch marks the beginning of a new growth trajectory for SecretSwap and Secret DeFi as we prepare for the launch of additional Secret DeFi products and ecosystem bridges (including the\u00a0upcoming BSC bridge<\/a>).<\/p>\n

Right now,\u00a0users can claim genesis SEFI, stake SEFI, provide liquidity on SecretSwap to earn SEFI, and trade for SEFI (or any other Secret Token) on SecretSwap.<\/strong><\/p>\n

This blog post will:<\/p>\n

    \n
  1. Confirm the ETH and Secret contract addresses for SEFI<\/li>\n
  2. Instruct users on how to claim genesis SEFI and how to earn SEFI going forward as users of SecretSwap and Secret DeFi<\/li>\n
  3. Outline next steps for Secret DeFi, including new bridges, new products, and much more!<\/li>\n<\/ol>\n

    Read on, and learn how to get started as an LP, trader, or Secret DeFi developer!<\/p>\n

    About SEFI<\/h2>\n

    The total (fixed) supply of SEFI is 1 billion tokens (1,000,000,000 SEFI<\/strong>). 10% of all SEFI supply (100M tokens) was allocated for genesis, with the remaining 90% to be distributed over the next 4 years. The genesis distribution of SEFI was designed to ensure a fair and broad distribution of tokens to existing SecretSwap users, as well as other prominent communities across Secret Network and Ethereum.<\/p>\n

    Many more details on SEFI distribution (past and future) can be found in\u00a0this previous blog post.<\/a><\/p>\n

    SEFI is currently bridged between Ethereum and Secret, with some of the supply on Ethereum and some of the supply on Secret. Users can easily swap between SEFI on Ethereum and SEFI on Secret Network using the\u00a0Secret Ethereum Bridge<\/a>.<\/p>\n

      \n
    • The ETH contract address for SEFI is: 0x773258b03c730f84af10dfcb1bfaa7487558b8ac<\/a><\/li>\n
    • The SCRT contract address for SEFI is: secret15l9cqgz5uezgydrglaak5ahfac69kmx2qpd6xt<\/a><\/li>\n
    • The Uniswap pool address for SEFI is: https:\/\/info.uniswap.org\/pair\/0xc3638b905e0b153cf24c3a99835e6a0ec0d3493f<\/a><\/li>\n
    • The SecretSwap pool address for SEFI is:
      \n      http:\/\/secretanalytics.xyz\/secret1rgky3ns9ua09rt059049yl0zqf3xjqxne7ezhp<\/a><\/li>\n<\/ul>\n

      Claiming and Earning SEFI<\/h2>\n

      Users can claim their genesis distribution of SEFI by visiting the following page:\u00a0bridge.scrt.network\/sefi<\/a><\/p>\n

      When arriving, you can connect your\u00a0Keplr<\/a>\u00a0wallet or\u00a0Metamask<\/a>\u00a0wallet to see if you have available genesis SEFI to claim and how much.<\/p>\n

      Genesis SEFI was distributed to approximately 14,500 ETH addresses and 8,500 SCRT addresses.<\/strong><\/p>\n

      There are two primary ways to earn SEFI going forward:<\/p>\n

        \n
      1. Staking SecretSwap LP tokens:\u00a0<\/strong>by staking your LP tokens you will earn SEFI rewards over time. Here's a\u00a0video tutorial<\/a>\u00a0on becoming a SecretSwap LP.<\/li>\n
      2. Staking SEFI itself:<\/strong>\u00a0by staking SEFI, you will earn additional SEFI rewards over time and be able to participate in governance.<\/li>\n<\/ol>\n

        You can start earning SEFI at the same URL:\u00a0bridge.scrt.network\/sefi<\/a><\/p>\n