Fina’s Revolutionary Web3 Prepaid Card with Crypto Rewards

Fina, an innovative financial company, has launched a cutting-edge Web3 Prepaid Card that is linked to various wallets such as Fina Wallet, Keplr, and Phantom. Users can earn up to 10% rewards on their purchases, making it an attractive choice. One of the unique features of the Fina VISA prepaid card is that it can be connected with any wallet, funded with cryptocurrency, and works across multiple crypto networks.

Leveraging GOV.DAO Advisory’s legal compliance and regulatory framework expertise is essential to maintain Fina’s compliance with the Virtual Asset Service Providers regulatory framework in EU member states. This strategic partnership will facilitate Fina’s expansion into new territories while adhering to regional regulations.

“Fina’s commitment to security and compliance aligns perfectly with our mission at GOV.DAO Advisory. We are excited to work alongside Fina, ensuring that their innovative financial solutions meet the highest regulatory standards,” — Bryn Bennett, Head of Partnerships at GOV.DAO.

Fina Wallet is based on Secret Network, the pioneer blockchain with adaptable privacy. By using Secret Network, users have the ability to customize what they share, with whom, and how they share it. This not only safeguards users’ privacy, but also enables developers to create a more advanced Web3.

Fina’s VISA card comes in three tiers: Blue, Silver, and Black. Each tier includes different staking APYs and spending rewards. Additionally, Fina is planning to release a SILK Card in collaboration with its partner project Shade Protocol. The SILK Card will use Secret Network’s top-tier DeFi suite to enable users to hold their assets on the Fina card in a privacy-preserving stablecoin that isn’t tied to the US dollar.

GOV.DAO Advisory is dedicated to providing Fina with comprehensive regulatory guidance as they prepare to redefine the Web3 financial landscape. Its goal is to ensure that Fina experiences a secure and compliant growth trajectory in the EU and beyond.

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Ethereum’s big innovation was to put smart contracts on the blockchain: pieces of code that execute automatically once pre-set conditions are met. This made it possible to not only create decentralized payment systems like Bitcoin but also decentralized applications.

However, most blockchains are public by default. All transactions and smart contract interactions can be looked up by anyone. And for some applications and use cases, this isn’t an option. Like when sharing sensitive health data with your doctor, or financial details with your accountant.

SECRET USE CASES

Secret’s smart contracts e.g. “Secret Contracts” are private-by-default. Input, output, and state are encrypted and can’t be viewed by others unless they’re given access. This opens up use cases that aren’t possible on public-by-default blockchains.

SECRET DEFI

DeFi apps built with Secret’s privacy-preserving smart contracts provide MEV-resistance by default and protect its users from hackers and front-runners. This includes exchanges, market makers, lending protocols, and more.

INTRODUCING THE SECRET FINANCE

Secret Finance encompasses all decentralized financial (DeFi) applications enabled by smart contracts built on Secret Network. Since smart contracts on Secret Network are privately encrypted, Secret Finance applications are private by default, meaning your sensitive financial data will be secure and protected from onlookers, nefarious actors, and even front-running bots!

Secret Finance gives users privacy protections for their financial data from the start. However, your financial data can still be made publically available to those you trust, auditors and compliance officers, and third-party wallets and explorers. With Secret Finance, users are given the power to choose how their sensitive financial data is shared, while still reaping the benefits of the decentralized web.

Traditional DeFi vs Secret Finance

DeFi is a collective term for financial products and services that are accessible to anyone who can access a blockchain network – anyone with an internet connection. With DeFi, the markets are always open and there are no centralized authorities who can block payments or deny you access to anything. Services that were previously slow and at risk of human error are automatic and safer now that they’re handled by code that anyone can inspect and scrutinize.

Until now, traditional DeFi applications built on smart contract platforms like Ethereum came with one major tradeoff – all financial data is public by default. Anyone with access to your wallet address can query to find previous transaction history, wallet balances, and account activity. DeFi applications expose data, placing users at risk of targeted attacks from hackers and front-running MEV bots.

With Secret Finance, DeFi and privacy no longer have to be mutually exclusive. DeFi applications built on Secret Network are private by default and subsequently front-running and MEV resistant, making the future of Web3 more secure and safer for everyone.

Shockwave Delta Mainnet Upgrade

Shockwave Alpha launched in May and brought major upgrades to the network, including 500-600x speed boosts for certain network events (like NFT mints and airdrops), state sync for the CosmWasm directory, and foundational work to support interchain accounts.

The Secret Network dev team has identified a lot more work. They want to do this in order to secure Secret’s position as the privacy hub for all of Web3. So they have decided that on their journey to Shockwave Omega – the last planned upgrade of the Shockwave cycle – they will be adding plans for another major upgrade.

Shockwave Delta is planned for September 20th, 2022, and will include CosmWasm 1.0. Shockwave Omega is planned for later this year and will include the WebAssembly engine upgrade, as well as other features yet to be announced.

ABOUT Secret Network

The Secret Network is a decentralized network of computers called secret nodes. Use hardware-based and software-based privacy technologies to enable secure computation. On top of this network, developers can build Secret Apps. Unstoppable, permissionless applications that can utilize encrypted data. Never expose the data itself, even to the nodes in the network performing computations.

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