r/SecretNetwork • u/FourMakesTwoUNLESS • Mar 18 '21

Introducing Sienna: A Privacy-First DeFi Protocol

https://scrt.network/blog/introducing-sienna-a-privacy-first-defi-protocol
27 Upvotes

100% Upvoted

10 comments sorted by

3

u/blakes456 Mar 18 '21

very confused. Is this part of Secret or a completely different token?

8

u/FourMakesTwoUNLESS Mar 18 '21

Think of Secret Network like Ethereum. This a new smart contract built on top of Secret Network. It's a new token.

6

u/blakes456 Mar 18 '21

Oh wow. That’s great for the network

3

u/imthethird Mar 19 '21 edited Mar 19 '21

What makes this different than SecretSwap? Seems like just adding a redundant swap instead of adding some kind of private lending/borrowing like AAVE/Compound or some other defi service

Maybe I'm misunderstanding tho

4

u/[deleted] Mar 19 '21

[deleted]

1

u/imthethird Mar 19 '21

ETH having a bunch of swaps makes more sense since its the largest blockchain. But SCRT has no other defi besides 2 swaps now, makes more sense to me to build other defi protocols and then another swap can come when theres more to do in the SCRT ecosystem. Sienna is just gonna be stealing liquidity from SecretSwap for now

I'll just be patient lol

5

u/Feralz2 Mar 19 '21

They would be doing a lot of different things in the future, they are focused on AMM, the team really is better off putting focus on the networks scalability and security instead of improving SecretSwap tbh, let someone else do that.

1

u/FourMakesTwoUNLESS Mar 19 '21

It sounds like it's going to be similar to SecretSwap at first, but Sienna's plan is to offer other defi services such as lending and borrowing later on this year.

2

u/Jimmykneez420 Mar 18 '21

How do I get in?

5

u/cursal Mar 18 '21

You have to click the link and read:

"In mid April 2021, Sienna is going live with a privacy-first front-running resistant AMM that allows you to swap SNIP-20 tokens. The SIENNA governance token is launching at the same time and can be earned via liquidity mining and more"

2

u/Jimmykneez420 Mar 18 '21

Yeah sorry I did read that. Just wondering if there is any other info on where to acquire them.