Ika Launches on Sui, Boosting Programmable BTC, ETH and SOL

The fastest parallel MPC network in the world, Ika (previously dWallet Network), announced today that it has launched on Sui, a cutting-edge Layer 1 blockchain and smart contract platform.

As an alternative to bridging, Ika provides safe interoperability across Ethereum, Bitcoin, Solana, Polygon, Avalanche, TON, and more. This empowers developers of Move smart contracts and offers improved foundational infrastructure, allowing institutional players to fully utilize Sui’s leading decentralized technology. Ika addresses significant shortcomings in current MPC networks by using Sui’s Mysticeti consensus and the innovative 2PC-MPC cryptographic method, providing previously unheard-of throughput performance with low latency, tremendous scalability, and zero-trust security.

Numerous apps on the Sui blockchain are powered by Ika’s ultra-fast MPC network, including:

• Programmable Bitcoin:  Ika offers programmable, secure DeFi and custody, opening up new possibilities for native BTC on Sui.
• DeFi Interoperability: Ika brings liquidity from chains like Bitcoin and Ethereum to Sui with its sub-second speed and scalability, enabling instantaneous and secure operations across all web3 ecosystems.
• Decentralized Custody: Ika provides unparalleled security for both institutional and individual customers by providing safe, decentralized custody solutions for digital assets on the Sui blockchain.
• Chain Abstraction:  Along with other Sui capabilities like zkLogin, Ika enables builders on Sui to abstract the intricacy of numerous chains for their customers, providing the ideal user experience.
• AI Agent Guardrails: By offering secure MPC guardrails that prevent AI agents from having complete unrestricted power and protect user assets, Ika improves AI apps on Sui.

Omer Sadika, Co-Founder of Ika stated:

“Sui is the fastest execution venue for cross-chain programmable BTC, DeFi, decentralized custody, Chain Abstraction, and AI agent guardrails. We chose Sui because Ika is deeply aligned with Sui’s core values of performance, speed, and decentralization.”

Soon, the IKA token will be natively available on the Sui blockchain, opening up additional decentralized security features and applications. IKA, the native token of the Ika MPC network, will be essential in sustaining its very quick and scalable infrastructure. It will also be used as payment for MPC signing services, facilitating smooth transactions across the Web3 realm. Adding the most promising MPC technology in blockchain to the fastest-growing L1 in Web3, Ika improves the ecosystem’s overall security and scalability by using Sui’s unparalleled speed and performance.

Jameel Khalfan, Head of Ecosystem Development at Sui Foundation stated:

“With Ika, more than $2 trillion in digital assets can now be programmed via the Sui network. Ika’s wide variety of use cases represents incredible potential for the Sui ecosystem.”

Today, Ika’s alpha testnet is available on Sui; the mainnet launch is scheduled for December.