This blog post was written by the Shade Protocol team.
Hello Secret Community!
Today marks an exciting moment for Shade Protocol - a Secret Network application. The Shade Bridge is officially live on mainnet! This application hosted by Shade Protocol allows for powerful generalised IBC transactions, empowering users to seamlessly move their assets all over the internet of blockchains. What’s more is that this easy to use interface allows users to bridge in their IBC assets and convert them into their privacy-preserving equivalents easier than ever before.
For a full tutorial on both the Shade Bridge and Privacy Wrapper, read the following article:
The following is a list of supported blockchains on the Shade Bridge:
Additional blockchains will be added to the Shade Bridge as relayer support and token support comes online. Another important feature is that CW-20s can be moved between these different blockchains. For example, a user can bridge stATOM, stOSMO, stJUNO onto Secret Network from Stride using the Shade Bridge - giving these staking derivatives privacy and access to Shade DeFi such as ShadeSwap (launching in Q1, 2023).
The following is a list of features tied to the Shade Bridge:
- Generalized IBC token transfers (Osmo <—> ATOM etc.)
- Bridge private tokens like SHD & SILK to the broader Cosmos
- Bridge SNIP-20s out of Secret Network
- Bridge CW20s between different Cosmos blockchains
- Transfer assets into the Secret DeFi and Shade ecosystem
- Convert your public IBC assets into privacy-preserving equivalents
The Shade Bridge is a key piece of Cosmos infrastructure that allows the internet of blockchains and their respective tokens to seamlessly leverage the power of IBC. Not only that, but never before has it been easier to empower your assets with privacy and onboard them into Shade DeFi!
In addition to launching the Shade Bridge, Shade Protocol also released its privacy wrapper page which allows users to wrap their ERC-20 tokens into their privacy-preserving SNIP-20 equivalents!
Using the Axelar bridge, users can use their MetaMask and Keplr wallet to easily transfer ERC-20s onto Secret Network. Once they have done this, they can then wrap their bridged tokens into SNIP-20s using the Shade Bridge interface.
Shade Protocol is an ambitious array of application-layer products focused on a simple end user experience that involves the incorporation of privacy by default. These interconnected privacy-preserving DeFi products built on Secret Network will change DeFi as we know it — empowering the next generation of value creation and exchange. Shade Protocol is launching Silk: a privacy-preserving collateralized, reflexive stablecoin built on Secret Network.
Without privacy, DeFi is incomplete. Traditional financial markets offer a degree of privacy for users, and as a result offer up greater protections in some capacity than existing DeFi markets. Shade Protocol will be the world’s first truly cohesive decentralized and privacy-preserving financial applications — ushering in a golden era for Web3. Shade Protocol will always push for privacy by default, privacy as an expectation, and privacy as the key to unlocking the full value of a decentralized future.
But we can’t do this without community. We need you to join our community and help make Silk and Shade Protocol a reality.