Ika received strategic investment from Sui Foundation, with a total financing amount exceeding 21 million USD
Ika has built a revolutionary zero-trust interoperability architecture through hundreds of highly secure signature nodes.Leading parallel MPC (Secure Multi-Party Computation) network Ika today announced that it has received a strategic investment from the Sui Foundation, bringing its total funding to over $21 million. This significant investment coincides with Ika's successful completion of a record-breaking 1.4 million SUI NFT art event on the Sui blockchain, laying a solid foundation for its upcoming launch on the Sui mainnet.
As the first MPC network to achieve sub-second signing, Ika has built a revolutionary zero-trust interoperability architecture through hundreds of highly secure signing nodes. This technological breakthrough perfectly aligns with the high performance, speed, and decentralization ideals pursued by the Sui blockchain.
"We are excited to establish a strategic partnership with the Sui Foundation," said Ika's CEO. "By deploying our MPC network on the Sui blockchain, we will provide Sui Move smart contract developers with unprecedented cross-chain interoperability capabilities."
Redefining MPC Performance Boundaries
Ika's innovation lies in the perfect combination of its unique 2PC-MPC cryptographic scheme and Sui's Mysticeti consensus protocol, which breaks through several limitations of traditional MPC networks:
1. Breakthrough Throughput : Supports transaction processing capabilities up to 10,000 times that of traditional networks;
2. Sub-Second Response : Signing speed reduced from the traditional 30 seconds to under 1 second;
3. Elastic Scalability Architecture : Supports flexible deployment from hundreds to thousands of signing nodes;
4. Military-Grade Security : Ensures asset security even in the most extreme circumstances.
Empowering the Sui Ecosystem
Ika's technology is bringing innovation to several key areas on the Sui blockchain:
1. Cross-Chain DeFi: Achieving instant value interoperability between mainstream chains like Bitcoin and Ethereum and Sui.
2. Institutional-Grade Custody: Providing decentralized custody solutions for digital assets that comply with regulatory requirements.
3. Seamless Chain Abstraction: Significantly enhancing user experience by integrating technologies like zkLogin.
4. Smart BTC Applications: Enabling programmable financial applications for native Bitcoin on Sui.
5. AI Security Governance: Establishing reliable security boundaries for on-chain AI applications.
Currently, over a dozen Sui ecosystem projects, including Full Sail, Rhei, and Aeon, have announced plans to integrate Ika technology.
Industry Recognition and Community Support
This strategic investment further underscores the Sui Foundation's commitment to supporting innovative technologies. A representative from the Sui Foundation stated, "Ika's MPC technology will greatly enhance the interoperability of the Sui ecosystem, which is a key reason for our investment."
In addition to the Sui Foundation, Ika's investment lineup is impressive, including top venture capital firms like DCG and Big Brain Holdings, as well as notable angel investors like AngelList founder Naval Ravikant. Its private placement valuation peaked at $600 million, reflecting strong market confidence in this technology.
Notably, Ika's previous "MF Squard Market" NFT event on Sui set a historical record for the chain, raising over 1.4 million SUI and fostering a highly active developer community.
Looking Ahead
With the IKA token set to launch on the Sui mainnet, this MPC network will enter a new phase of development. The token will be used to pay for network service fees and incentivize ecosystem participants to jointly maintain this revolutionary cross-chain infrastructure.
"We believe that the combination of Ika and Sui will redefine the security standards of Web3," summarized Ika's technology lead. "This is not just a fusion of technologies, but an important investment in the decentralized future."
About Ika
Ika is a leading provider of parallel MPC networks, dedicated to building the next generation of blockchain security infrastructure.
About Sui
Sui is a high-performance Layer 1 blockchain based on the Move language, known for its innovative object model and sub-second finality.
