Secret (SCRT), one of the small-cap altcoins listed on Binance, has launched a bid to reduce the inflation rate of the SCRT token from 15% to 9%. The proposal is currently open for voting until December 6.
Over the past few months, the Secret community has been discussing the possibility of lowering inflation rates. According to the official statement, the decision to put forward an offer was driven by several key factors:
- Value Preservation: The community aims to preserve the value of the SCRT token, which has historically been affected by high inflation.
- Sustainability: The proposal aims to balance staking rewards without flooding the market with tokens.
- Security and Decentralization: The decline in inflation is also seen as a way to reduce centralization risks and ensure fair token distribution.
However, despite the inflation quote in question, the SCRT price continues its downward trend. Despite the bullish mood in the cryptocurrency market over the past week, the SCRT price has fallen by approximately 3% in the last week.
SCRT altcoin, which was launched in the middle of the bull market in 2021, rose above $ 10 during the peak days of the bull. At the time of this writing, it is trading at $0.36, meaning it has lost 96.55% of its value from its all-time high.
*This is not investment advice.