Ika Announces Strategic Investment from Sui Foundation, Boosting Total Funding to Exceed $21 Million

Ika: Redefining MPC Standards

Utilizing the advanced 2PC-MPC cryptographic framework and Sui’s Mysticeti consensus mechanism, Ika addresses limitations found in current MPC infrastructures, offering remarkable capabilities:

1. Unprecedented Throughput: Ika’s architecture allows it to handle transaction volumes up to 10,000 times greater than existing MPC frameworks, achieving extraordinary efficiencies.
2. Instantaneous Response: In contrast to traditional networks that can have delays exceeding 30 seconds, Ika produces signatures in under a second, facilitating real-time cross-chain operations.
3. Enhanced Scalability: Breaking free from the typical 4-8 node constraint, Ika’s 2PC-MPC can support hundreds or even thousands of signers, promoting greater decentralization without sacrificing speed.
4. Robust Security: Ika’s design prioritizes the protection of user assets, ensuring safety even under extreme conditions and raising the bar for decentralized security standards.

Ika’s Applications: Transforming the Web3 Landscape

The rapid MPC network from Ika facilitates diverse applications on the Sui blockchain, with various developers already integrating this technology, including:

• Decentralized Finance Accessibility: Ika’s swift and scalable solutions allow for prompt and secure actions across the Web3 ecosystem, channeling liquidity from established chains like Bitcoin and Ethereum to Sui. Builders such as Full Sail and Rhei are gearing up for launches that incorporate Ika.
• Secure Digital Custody: Ika provides decentralized custody alternatives on the Sui blockchain for various digital assets, ensuring top-notch security for both individual users and institutions. Companies like Aeon and Human Tech are preparing to integrate Ika into their services.
• Simplified Chain Management: Ika helps Sui users navigate the complexities of multiple blockchains while enhancing user experience through features like zkLogin. Builders Covault and Lucky Kat are set to incorporate Ika into their solutions.
• Programmable BTC Integration: Ika enables novel functionalities for native Bitcoin on Sui, facilitating secure DeFi and custody solutions. Projects like Native and Nativerse are soon launching with Ika’s capabilities.
• AI Support Mechanisms: Ika bolsters AI initiatives by providing secure MPC frameworks, ensuring that AI agents operate within boundaries, thus protecting user assets. Builders Atoma and Ekko are planning launches utilizing Ika technology.

Endorsement from Industry Experts and Community Involvement

The Sui Foundation’s investment in Ika reflects its commitment to propelling innovative technologies that align with its mission of performance and decentralization. This collaboration enhances the technological synergy within the Sui landscape, placing both Ika and Sui at the vanguard of the Web3 transformation, fostering a future defined by secure and scalable decentralized infrastructures.

With over $21 million in financial backing and a peak private valuation reaching $600 million, Ika is supported by numerous key players in the Web3 arena. Organizations like Sui Foundation and others contribute to its expansive ecosystem.

Ika’s impact is also highlighted by its notable success in launching the “MF Squid Market” NFT art initiative, which is recorded as the biggest NFT campaign in Sui’s history, garnering over 1.4 million SUI and establishing a vibrant community base.

The IKA token will soon be introduced on the Sui blockchain, enhancing functionality and security within the decentralized landscape. Serving as the native token for the Ika MPC network, IKA will be essential for facilitating MPC signing services and enabling smooth transactions throughout Web3. By utilizing Sui’s high-speed framework, Ika elevates security and scalability, making it a significant addition to the rapidly evolving blockchain sector.

About Ika

Ika stands as the leading parallel MPC network, characterized by sub-second latency, unmatched scalability, decentralization, and zero-trust security. As a prime option for interoperability, decentralized custody, and chain abstraction, Ika is poised to innovate digital asset security and multi-chain DeFi solutions.

About Sui

Sui represents a groundbreaking Layer 1 blockchain and smart contract platform designed to ensure that digital asset ownership is efficient, secure, and user-friendly. Built on the Move programming language, its object-centric framework allows for concurrent processing, rapid finality, and versatile on-chain asset management. With its scalable architecture, Sui supports various applications, delivering superior performance at minimal costs, empowering developers to create captivating and user-centric experiences.