Zug, Switzerland, April 28, 2025, Chainwire
The world's fastest parallel MPC network, Ika, is set to launch on the Sui blockchain and has announced a strategic investment from the Sui Foundation. Previously, Ika successfully completed a record-breaking 1.4 million SUI NFT art event on Sui. Ika is the world's first sub-second MPC network, capable of achieving zero-trust interoperability among hundreds of signing nodes, with unprecedented scale and unbreakable security.
Ika aligns perfectly with the core values of Sui—performance, speed, and decentralization. With its upcoming launch on the Sui blockchain, Ika brings its unparalleled MPC technology into the Sui ecosystem, providing secure interoperability across Web3 for Sui Move smart contract developers. This further solidifies Sui's position as the preferred solution in areas such as cross-chain DeFi, decentralized custody, chain abstraction, AI agent protection, and native Bitcoin programmability, relying on the first truly scalable and secure MPC signing solution.
Ika: Setting a New Benchmark for MPC Technology
Ika leverages an innovative 2PC-MPC cryptographic scheme and Sui's Mysticeti consensus protocol to address key bottlenecks in existing MPC networks, delivering unparalleled performance:
Record-breaking throughput: Ika's transaction processing capability is up to 10,000 times higher than current MPC networks, supporting unprecedented transaction volumes.
Extremely low latency: Traditional network signatures may take 30 seconds or longer, while Ika can generate signatures in sub-second time, supporting real-time cross-chain applications.
Super scalability: Ika breaks the conventional limit of 4-8 nodes, with 2PC-MPC scalable to hundreds or even thousands of signers, enhancing decentralization without sacrificing performance.
Zero-trust security: Ika's architecture ensures that user assets remain secure even in the most extreme circumstances, setting a new standard for decentralized security.
Ika's Use Cases: A Game Changer for Web3
Ika's ultra-fast MPC network supports a variety of applications on the Sui blockchain, with several Sui developers already utilizing Ika to build technology, including:
DeFi interoperability: Ika's sub-second speed and scalability enable instant secure operations in the Web3 ecosystem, bringing liquidity from chains like Bitcoin and Ethereum to Sui. Sui developers Full Sail and Rhei have announced upcoming technologies based on Ika.
Decentralized custody: Ika provides secure, decentralized custody solutions for digital assets on Sui, offering unparalleled security for institutional and individual users. Sui developers Aeon and Human Tech have announced their integration of Ika into their technology.
Chain abstraction: Ika helps Sui developers abstract multi-chain complexity for users, combining features like Sui's zkLogin to provide a perfect user experience. Sui developers Covault and Lucky Kat have announced their integration of Ika into their technology.
Programmable Bitcoin: Ika unlocks new possibilities for native BTC on Sui, supporting programmable and secure DeFi and custody. Sui developers Native and Nativerse have announced upcoming technologies based on Ika.
AI agent protection: Ika enhances AI applications on Sui by providing secure MPC protection, ensuring that AI agents do not possess unrestricted power, thus protecting user assets. Sui developers Atoma and Ekko have announced upcoming technologies based on Ika.
Support from Industry Leaders, Enthusiastic Community Embrace
The Sui Foundation's strategic investment in Ika highlights Sui's commitment to advancing cutting-edge technology for high performance and decentralization. This enhances the technological synergy within the Sui ecosystem, positioning Sui and Ika at the forefront of the Web3 revolution, jointly advancing the future of secure, scalable, decentralized infrastructure.
Ika has raised over $21 million, with a peak private placement valuation of $600 million FDV, receiving support from key participants in the Web3 space, including Sui Foundation, DCG, Big Brain Holdings, Blockchange, Node Capital, Amplify Partners, Liquid2 Ventures, FalconX, Tykhe Block Ventures, Lightshift, Token Bay Capital, Collider, Zero Knowledge Ventures, NoLimit Holdings, Rubik Ventures, Dispersion Capital, Insignius Capital, Impatient Ventures, Cerulean Ventures, Earl Grey Capital, HDI Ventures, Flowdesk, TPC Ventures, Purechain Capital, Solr DAO, Heroic Ventures, Naval Ravikant, NotVCs, G-20 Group, Artifact Capital, DSRV, Encapsulate, and many others.
Ika also showcased strong support from Sui users by launching the "MF Squid Market" NFT art event, which became the largest and most successful NFT event in Sui's history, raising over 1.4 million SUI and establishing an active grassroots community.
The IKA token is set to launch natively on the Sui blockchain, unlocking new features and utilities for decentralized security. As the native token of the Ika MPC network, IKA will play a key role in its ultra-fast, scalable infrastructure, facilitating payments for MPC signing services and enabling seamless transactions in the Web3 ecosystem. With Sui's unparalleled speed and performance, Ika enhances the security and scalability of the entire ecosystem, bringing the most promising MPC technology in blockchain to the fastest-growing L1 in Web3.
About Ika
Ika is the world's fastest parallel MPC network, offering sub-second latency, unprecedented scale and decentralization, and zero-trust security. As the preferred choice for interoperability, decentralized custody, and chain abstraction, Ika will revolutionize the security of digital assets and multi-chain DeFi.
About Sui
Sui is the first Layer 1 blockchain and smart contract platform designed from the ground up to enable digital assets to be fast, private, secure, and accessible to everyone. Based on the Move programming language, its object-centric model supports parallel execution, sub-second finality, and rich on-chain assets. Sui supports a wide range of applications at low cost through horizontally scalable processing and storage capabilities, with unmatched speed. Sui represents a significant advancement in blockchain technology, providing creators and developers with a platform to build exceptional user experiences.
Contact:
Ika PR
pr@ika.xyz (mailto:pr@ika.xyz)
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