When you search for SILK crypto, you’re not looking at one project-you’re staring at two completely different coins with the same ticker. One is a technically advanced, privacy-focused stablecoin built for real-world use. The other is a dead token with zero trading volume and no future. Confusing them could cost you time, money, or both.
There are two SILK tokens. Only one matters.
The name SILK refers to two separate tokens on different blockchains. The real one is Silk Stable, created by Shade Protocol on the Secret Network. It’s designed to be a stable, private, and globally resilient currency. The other is Spider Tanks (SILK), an Ethereum-based token launched in 2022 that’s essentially a ghost. It has no users, no development, and no trading activity. If you’re thinking about buying SILK, you need to know which one you’re dealing with.
Shade Protocol’s Silk Stable isn’t just another stablecoin. It doesn’t peg to the US dollar. Instead, it tracks a dynamic basket of global currencies and commodities-like the euro, yen, gold, and even emerging market assets. This means if the dollar drops, Silk Stable doesn’t crash. It adjusts. That’s not theory-it’s how it’s built. According to Shade Protocol’s 2023 technical guide, it’s meant to act as a perpetual hedge against inflation and currency swings.
Meanwhile, Spider Tanks (SILK) has been inactive since late 2022. Its GitHub repo hasn’t been updated in over two years. Trading volume? $0 for the past 90 days. Market cap? Around $98,000-mostly from bots or forgotten wallets. CoinLore, CoinStats, and MEXC all list it as having zero liquidity. This isn’t a low-cap gem. It’s a zombie token.
How Silk Stable works: Privacy, not just stability
Most stablecoins like USDT or USDC are transparent. Every transaction is visible on the blockchain. That’s a problem if you’re in a country with capital controls, or if you just don’t want your financial history public. Silk Stable solves this with Secret Network’s trusted execution environments (TEEs). These are secure computing zones that let transactions happen without revealing amounts, senders, or receivers.
That’s not marketing. It’s cryptography. Secret Network is one of the few Layer 1 blockchains built from the ground up for privacy. Silk Stable uses secret contracts-smart contracts that can process data without exposing it. That means you can send $10,000 in SILK and no one on the network can see it. Even the validators don’t know what you’re transferring.
The collateral system is also unique. Most stablecoins require over-collateralization-like locking $150 worth of crypto to issue $100 in stablecoin. Silk Stable uses a reflexive model. It adjusts supply based on demand and macroeconomic signals. If more people buy SILK, the protocol mints more. If demand drops, it burns tokens. This keeps the peg tight without needing massive reserves.
It’s not perfect. Onboarding takes 15-20 minutes. You need to set up a Secret Network wallet-Keplr or Secret Scout-and bridge assets from Ethereum or Cosmos. That’s a barrier for beginners. But users who’ve made the jump say it’s worth it. One user on the Secret Network forum reported SILK held its peg within 0.8% during a March 2025 market crash, while USDC briefly dipped to $0.985.
Spider Tanks (SILK): A token with no purpose
Spider Tanks (SILK) was launched as part of a gaming project. The idea was to use the token for in-game purchases. But the game never took off. No updates. No new features. No community growth. By early 2025, even the developers stopped responding to questions.
It’s listed on exchanges like MEXC and HitBTC, but no one’s buying. Reviews are universally negative. Users complain they can’t sell their tokens because there’s no buyer. That’s not a liquidity issue-it’s a dead project. Crypto analyst Ben Armstrong called it a “pump-and-dump scheme with zero utility” in his March 2025 YouTube review. He wasn’t wrong.
There’s no roadmap. No treasury. No team updates. GitHub commits stopped in December 2022. CoinGecko labeled it an “inactive token.” JPMorgan’s Digital Asset Outlook gives it a 98% chance of becoming completely illiquid within a year. If you own this token, you’re holding digital dust.
Who uses Silk Stable-and why?
Silk Stable isn’t for traders looking for quick flips. It’s for people who need stability without surrendering privacy. That includes:
- People in countries with unstable local currencies who want to hold value without using USD
- Privacy-conscious investors tired of public transaction histories
- Developers building DeFi apps that need confidential transfers
- Cross-border businesses avoiding FX risk
Shade Protocol’s Q1 2025 report shows about 1,200 active wallets using Silk Stable. That’s tiny compared to USDC’s 12.7 million. But growth is accelerating. The protocol added cross-chain support with the Cosmos ecosystem in March 2025, letting SILK move across 50+ networks. The treasury hit $42 million in Q1, with 78% used to back liquidity. That’s a sign of serious commitment.
Experts agree. Dr. Gavin Andrersen, former Chief Scientist at the Bitcoin Foundation, called Silk Stable “one of the most technically sophisticated approaches to solving stablecoin volatility.” Stanford’s Digital Currency Group included it in their 2024 Stablecoin Innovation Index-only seven projects made the list. The IMF and ECB have both cited similar models as solutions to systemic risks in traditional stablecoins.
Market context: Where SILK fits in the crypto world
The global stablecoin market is worth $150 billion. But most of it is tied to the US dollar. That’s dangerous. When the Fed raises rates or the dollar weakens, it creates ripple effects across crypto. Silk Stable’s multi-currency basket is a direct response to that. Bernstein’s April 2025 report predicts multi-currency stablecoins will hit $25 billion in market cap by 2026.
Silk Stable is one of the few projects in this space with real tech and real traction. It’s competing with projects like Angle Protocol and the remnants of Terra’s LUNA ecosystem. Unlike them, it doesn’t rely on algorithmic magic or centralized reserves. It uses a hybrid model: collateralized, reflexive, and private.
Regulation is a hurdle. The EU’s MiCA rules welcome multi-currency stablecoins. But the U.S. Stablecoin Control Act of 2024 demands strict audits and reserve disclosures-something Silk Stable hasn’t fully addressed yet. That means U.S. users can’t access it officially. For now, it’s a global tool, not an American one.
Spider Tanks? It’s in a different category entirely. CoinGecko calls it a “zombie token.” These make up 18% of all listed cryptocurrencies-tokens with no activity, no updates, and no future. They’re dead weight on exchanges. Don’t confuse them with real projects.
Can you buy SILK? Here’s how (if you want the real one)
If you want Silk Stable, here’s what you do:
- Get a Secret Network-compatible wallet: Keplr or Secret Scout
- Deposit ETH, BTC, or another asset into the wallet
- Use the Shade Protocol bridge to convert your asset to SILK on Secret Network
- Wait 10-20 minutes for the transaction to finalize
There’s no app. No one-click buy. You need to understand the basics of private blockchains. But once you’re in, you get a stablecoin that can’t be frozen, tracked, or depegged by a single currency’s collapse.
If you’re looking at Spider Tanks (SILK) on Binance or MEXC, don’t buy it. There’s no reason to. No utility. No liquidity. No future. It’s a trap.
Is SILK a good investment?
Only if you mean Silk Stable-and only if you understand what it’s for. It’s not a speculative play. It’s a tool for financial resilience. If you’re looking to hedge against inflation, avoid currency risk, or transact privately in crypto, it’s one of the most advanced options available.
But if you’re hoping for a 10x return next month? Forget it. Silk Stable moves slowly. It’s built to last, not to boom. The market cap is small. The user base is niche. But it’s growing. And it’s backed by real engineering, not hype.
Spider Tanks? No. Absolutely not. It’s not an investment. It’s a graveyard.
Final takeaway
SILK isn’t one coin. It’s two. One is a quietly powerful innovation in stablecoin design. The other is a forgotten relic. Don’t let the ticker fool you. Check the blockchain. Check the development activity. Check the use case.
If you see SILK on Secret Network? That’s the real thing. If you see it on Ethereum with no volume and no updates? Walk away. There’s nothing there but noise.
