Introducing Secret to the Colossus Institutional Hub
Empowering institutional investors with enhanced staking capabilities
Introduction
As the digital asset ecosystem continues to evolve, institutional investors seek robust, secure, and compliant solutions for managing their portfolios. At Colossus, we are committed to delivering top-tier services that meet these needs, leveraging our deep expertise in the blockchain space. Today, we are excited to announce the integration of Secret Network (SCRT) in our Institutional Hub, a custodial platform designed to optimize staking operations for institutional clients.
About Colossus
Colossus stands at the forefront of digital asset management, blending expertise, innovation, and dedication to provide value added services in the blockchain industry. We prioritize compliance, security, and transparency, ensuring that our clients can trust us as their partner in digital asset management and yield generation.
About Secret Network
Secret Network is a privacy-preserving blockchain that empowers developers to build and deploy decentralized applications (dApps) with encrypted data. As a prominent player in the Cosmos ecosystem, Secret Network facilitates secure and private transactions, making it an attractive option for institutions focused on maintaining privacy while leveraging blockchain technology.
Colossus Institutional Hub x Secret Network
The Colossus Institutional Hub is a custodial platform specifically tailored for institutional investors who require seamless integration with existing custody infrastructure, such as Fireblocks, Ledger Enterprise (coming soon), or Dfns, and other solutions can be integrated
Unlike other platforms, the Institutional Hub allows institutions to stake their digital assets directly from their custody solutions, eliminating the need to transfer assets outside their secure environments. This approach enhances security and allows institutions to fully maximize the potential of their digital assets.
With the integration of Secret Network, the Institutional Hub expands its support for the Cosmos ecosystem, enabling transactions with SCRT alongside other Cosmos assets. The Institutional Hub offers several key functions that allow institutions to manage their Secret Network assets efficiently:
Delegate Tokens: Institutions can delegate their SCRT tokens to validators, locking them into the network to participate in earning rewards. This function ensures that the assets contribute to the network's security while generating returns.
Undelegate Tokens: If an institution decides to retract their delegation, they can use the ‘Undelegate Tokens’ function. After initiating this process, the tokens enter a 21-day unbonding period, during which they remain locked. Once this period concludes, the tokens automatically become available in the institution’s wallet.
Withdraw Rewards: To collect rewards generated through delegation, institutions can utilize the ‘Withdraw Rewards’ function. This ensures they receive the benefits of their participation in the network’s consensus mechanisms.
Send Tokens: For tokens not currently supported by Fireblocks, Ledger Enterprise (coming soon) or DFNS, such as SCRT, the Institutional Hub offers the ‘Send Tokens’ function. This allows institutions to transfer their assets to another wallet, with the transaction securely managed and broadcast to the blockchain after the necessary approvals.
Click on the image to watch the demo video
Institutions can monitor the status of their transactions through the ‘Broadcast List’ section, and directly from inside their custody provider, in the “Transaction History” ensuring full transparency and control.
Conclusion
As we continue to develop new functionalities for Secret Network within the Institutional Hub, we invite institutions holding SCRT to explore the enhanced capabilities now available. The integration of Secret into the Institutional Hub is just the beginning, with more innovations on the horizon.
To follow the mantra “Verify don’t trust”, Colossus has developed the “Transaction Lens”, a unique feature that allows users to independently verify that all hashes and to have mathematical proof that they are about to sign matches the desired transaction.
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Contact us to learn more about how the Colossus Institutional Hub can empower your digital asset strategy and unlock new opportunities with Secret Network: https://colossus.digital/institutional-hub/.