BlockBeats News, July 8th, according to official sources, privacy-focused blockchain Secret Network announced that it will migrate to the Arbitrum ecosystem, with the SCRT token transitioning to an ERC-20 token on Arbitrum. The migration is scheduled to take place with a snapshot on September 1, 2026. Native SCRT and staked SCRT will automatically migrate, but sSCRT, SCRT in contracts or liquidity pools, cross-chain SCRT, and IBC bridged tokens are not included in the migration and must be converted to native or staked status before September 1st. Post-migration, SCRT will remain the governance token, and the team has proposed reducing the inflation rate from 9% to 5%. Following the migration, SCRT Labs will cease to maintain the Secret Network and will open-source all code. This proposal requires a community governance vote.

Additionally, according to Coingecko data, the SCRT token is currently trading at $0.03965, with a 24-hour decrease of 30.7%.