Ika announces strategic investment from Sui Foundation, total funding exceeds $21 million
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Ika announces strategic investment from Sui Foundation, total funding exceeds $21 million
Ika, the world's fastest parallel MPC network, is set to launch on the Sui blockchain following strategic investment from the Sui Foundation. Leveraging its technological advantages of sub-second latency and ultra-high throughput, Ika will bring DeFi interoperability, decentralized custody, and various other use cases to the Sui ecosystem, advancing zero-trust interoperability across blockchains.
Navigating Web3 tides with focused insightsIka, the world's fastest parallel MPC network, is set to launch on the Sui blockchain and has recently revealed a strategic investment from the Sui Foundation following a record-breaking 1.4 million SUI NFT art event successfully completed on Sui. As the first network to achieve sub-second MPC, Ika enables trustless interoperability across blockchains at an unprecedented scale—spanning hundreds of signing nodes—while delivering rock-solid security.
Ika strongly aligns with Sui’s core values—performance, speed, and decentralization. With its upcoming launch on the Sui blockchain, Ika brings its unparalleled MPC technology to Sui Move smart contract developers, enabling secure interoperability across Web3. This strengthens Sui’s leadership in cross-chain DeFi, decentralized custody, chain abstraction, AI agent protection, native Bitcoin programmability, and more, powered by the first truly scalable and secure MPC signature solution.
Ika: Setting a New Benchmark for MPC Technology
Leveraging a novel 2PC-MPC cryptographic scheme and Sui’s Mysticeti consensus protocol, Ika overcomes critical limitations in existing MPC networks to deliver unprecedented performance:
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Record-breaking throughput: Ika handles 10,000x more transactions than current MPC networks, supporting massive transaction volumes.
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Ultra-low latency: While traditional networks may take 30 seconds or longer, Ika generates signatures in sub-seconds, enabling real-time cross-chain applications.
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Extreme scalability: Moving beyond typical 4–8 node limits, 2PC-MPC can scale to hundreds or even thousands of signers, enhancing decentralization without sacrificing performance.
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Trustless security: Ika’s architecture ensures user assets remain secure even under worst-case scenarios, setting a new standard for decentralized security.
Ika Use Cases: Game Changers for Web3
Ika’s ultra-fast MPC network powers a wide range of applications on the Sui blockchain, with multiple Sui developers already building on Ika’s technology, including:
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DeFi Interoperability: Ika’s sub-second speed and scalability enable instant, secure operations across all Web3 ecosystems, bringing liquidity from chains like Bitcoin and Ethereum into Sui. Sui developers Full Sail and Rhei have announced upcoming launches leveraging Ika.
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Decentralized Custody: Ika provides secure decentralized custody solutions for digital assets on the Sui blockchain, offering unmatched security for institutional and individual users. Sui developers Aeon and Human Tech have announced upcoming integrations with Ika.
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Chain Abstraction: Ika allows developers on Sui to abstract the complexity of multiple chains for users, combining with other Sui features like zkLogin to deliver seamless user experiences. Sui developers Covault and Lucky Kat have announced upcoming integrations with Ika.
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Programmable Bitcoin: Ika unlocks new possibilities for native BTC on Sui, enabling programmable and secure DeFi and custody. Sui developers Native and Nativerse have announced upcoming launches leveraging Ika.
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AI Agent Protection: Ika enhances AI applications on Sui by providing secure MPC-based protection, ensuring AI agents do not wield unchecked control and safeguarding user assets. Sui developers Atoma and Ekko have announced upcoming launches leveraging Ika.
A Vision Backed by Industry Leaders, Embraced by the Community
The Sui Foundation’s strategic investment in Ika underscores Sui’s commitment to advancing cutting-edge technologies that support its mission of high performance and decentralization. This deepens technical synergy within the Sui ecosystem, positioning both Sui and Ika at the forefront of the Web3 revolution, jointly driving the future of secure, scalable, and decentralized infrastructure.
Ika has raised over $21 million in funding, reaching a peak private valuation of $600 million FDV, supported by numerous key participants in the Web3 space, including the Sui Foundation, DCG, 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, and Encapsulate.
Ika has also demonstrated strong adoption among Sui users, launching the "MF Squid Market" NFT art event—the largest and most successful NFT event in Sui history—raising over 1.4 million SUI and cultivating a powerful, active grassroots community in the process.
The IKA token will soon be natively launched on the Sui blockchain, unlocking new functionalities and utilities for decentralized security. As the native token of the Ika MPC network, IKA will play a critical role in powering its ultra-fast, scalable infrastructure, serving as the means to pay for MPC signature services and enabling seamless transactions across Web3. By leveraging Sui’s unmatched speed and performance, Ika elevates the entire ecosystem’s security and scalability, merging the most promising MPC technology in blockchain with the fastest-growing L1 in Web3.
About Ika
Ika is the fastest parallel MPC network, delivering sub-second latency, unprecedented scale and decentralization, and trustless security. As the go-to solution for interoperability, decentralized custody, and chain abstraction, Ika is set to transform digital asset security and multi-chain DeFi. Learn more here.
About Sui
Sui is the first Layer 1 blockchain and smart contract platform designed from the ground up to make digital asset ownership fast, private, secure, and accessible to everyone. Built on the Move programming language, its object-oriented model enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a broad range of applications delivered at unparalleled speed and low cost. Sui represents a quantum leap in blockchain technology—a platform where creators and developers can build exceptional, user-friendly experiences. Learn more: https://sui.io
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