Layer 1 network dilutes supply by 75% overnight to fund survival after main developer quits

Secret Network executed a 1.079 billion-SCRT mint on Aug. 21 as backers of Proposal 365 moved to keep the Cosmos-based layer 1 operating ahead of SCRT Labs’ Sept. 1 support cutoff.Proposal 365 passed and scheduled the v1.26.0-community-continuance upgrade for block 26,790,327. Results from that block record the full mint as a finalize-block upgrade event, with no normal user transaction or mint transaction hash.After the upgrade, the live secret-4 node reported software version 1.26.0 and reached block 26,806,270. Those observations establish that the upgrade ran and block production continued, while the proposal still leaves development, infrastructure and validator participation dependent on community execution.The continuance plan’s worked example used 361.97 million existing SCRT, about 25.1% of an estimated 1.441 billion post-mint total. A later bank-supply response showed 1.44346 billion SCRT. That live total includes the actual pre-upgrade supply and continuing inflation, while the block results establish the one-time mint at exactly 1.079 billion SCRT.Existing holders kept their absolute balances on the same chain, but the additional supply reduced their collective share to...