How to enable, view & transfer a SNIP-20 fungible, private token on Secret Network
This is a concise guide on enabling viewing your balances on SNIP-20 private, fungible tokens from Secret Network via Keplr wallet! On this guide we will enable FATS or fatsecret a token created by a community member.
A few words about Keplr
Keplr - Browser extension wallet for the Inter blockchain ecosystem.
Keplr is an ambitious project and a wallet (currently available in the form of a Chrome browser extension) developed by Chainapsis. It is anticipated that Keplr will be central to the Cosmos ecosystem post IBC protocol’s implementation. We can safely assume that Keplr will be to Cosmos what Metamask is to the Ethereum ecosystem.
Keplr is the first decentralized wallet with access recovery available in the Cosmos ecosystem, marking a milestone for the entire Cosmos community!
A few words about the Secret Network
One of the first Cosmos SDK projects that Keplr has been providing support for, is the Secret Network and $SCRT coin.
Secret Network is the first blockchain with privacy-preserving smart contracts. This means that applications built on Secret Network can utilize encrypted data without revealing it to anyone, including the nodes in the network. For the first time, Secret Network allows developers to build powerful, permissionless, privacy-preserving applications — Secret Apps.
Privacy is a fundamental human right.
Permissionless blockchains are public by default. This means that all the data used in smart contracts is exposed to everyone offering only pseudonymity at best. For blockchain technology to achieve global adoption, users and organizations need control over how their data is used — they can’t just expose it to everyone. Secret Network solves the problem of the lack of privacy on public permissionless ledgers, helping to secure and scale the decentralized web.
There are myriads of legitimate use-cases that can be applied to DLT and Secret Network could be utilized to this end i.e. so that the fundamental right to privacy is preserved and protected (whether that is medical or any kind of sensitive, private data).
A few words about SNIP20 tokens
WIP — SNIP-20 Spec: Private, Fungible Tokens
SNIP-20, is a specification for private fungible tokens based on CosmWasm on the Secret Network. The name and design is loosely based on Ethereum’s ERC-20 & ERC-777 standards, and a superset of CosmWasm’s CW-20. The additions to this spec over the CW20 specification are mostly for privacy focused features, and as such will strive to maintain compatibility.
The specification is split into multiple sections, a contract may only implement some of this functionality, but must implement the base functionality.
Contracts that implement this interface should support only a single token/symbol, and must conform to the standards specified in the resource below:
SNIP-20, is a specification for private fungible tokens based on CosmWasm on the Secret Network. The name and design is…
For a general understanding of sSCRT please read:
SecretSCRT: Privacy Tokens are Live on Mainnet!
Hello Secret Agents! We're pleased to announce that privacy tokens have finally launched on the Secret Network mainnet…
For a deeper dive into technical aspects of sSCRT please visit:
This is a privacy token implementation on the Secret Network. It is backed by the native coin of the network (SCRT) and…
sSCRT is live on main net
It was only recently that privacy tokens went live on Secret Network’s main net and Keplr was the first wallet to engage in active development and GUI implementation of sSCRT (secretSCRT) tokens.
Prerequisites for enabling viewing your private tokens
Currently sSCRT tokens as well as successfully deployed SNIP-20 fungible tokens such as FATS can be viewed, minted, sent or received on Keplr wallet.
Before you enable a SNIP-20 token on Secret Network you will be required:
a. to install the Keplr Chrome extension;
b. to have an SCRT wallet and small balance (1 token) in $SCRT (the Secret Network’s token ) available for generating the viewing keys;
c. to have the contract address of the SNIP-20 token you wish to enable viewing keys for.
Viewing keys are available only to you the account holder who issues them.
You can transfer private, fungible tokens without any transaction being registered. Your only transaction visible on the network is the execution of the contract for enabling the viewing keys. Nothing else.
Enabling the viewing keys
- In order to be able to use the function of enabling FATS or any other fungible private SNIP-20 token on Keplr, you will need to have Keplr installed on your Chrome extensions.
- Next step is to click on the icon of the extension and navigate to Secret Network from the drop down list.
3. Then you click on the dropdown menu on the left:
4. And you click Add Token:
5. Now you are presented with a page containing info of the token you wish to add.
6. All you will need is to add the contract address on the top of the tab below Contract Address. The contract address for FATS is: secret1xzlgeyuuyqje79ma6vllregprkmgwgavk8y798
7. Keplr will automatically recognize the remainder of the fields and all you need to do now is click on the blue button entitled Create:
8. Next on, you choose the fee (leave everything at the default setting and click the blue button Set Fee:
9. The contract will execute given you have the balance available.
10. In the end you will return to the Add Token window where you now have to click Submit. The viewing key (a string of letters/numbers should appear below Viewing Key Tab.
11. Now hit Submit.
12. You are now ready and should be able to see your balance in FATS provided that you have some in your wallet. If you do not have any the token will not show up as below:
- You can receive SNIP-20 tokens in the same address as your SCRT address.
- You will have to enable viewing keys for every SNIP-20 token you have available.