With PrivateIntent, your swap amount is FHE encrypted on-chain before solvers see it.
Solvers compete blindly on ciphertext. No one knows your swap until the winner is locked.
Privacy is the default.
Devnet/Testnet live now.
@ikadotxyz@encrypt_xyz
https://t.co/OQgSAaARdv
with legacy mpc networks, when everything works as expected, you can steal all users’ assets if you corrupt enough nodes, and with a vulnerability you can steal all users’ assets if you corrupt only one node or sometimes even without corrupting any nodes (!)
with @ikadotxyz and 2PC-MPC an attacker will always need to corrupt every single user separately because even if the entire network is compromised, it only ever has access to half a key, and every user has their own other half
there are custody products using icp or near mpc networks like @TrezuApp that call themselves “non-custodial”, which is false and misleading, since all their users’ assets are in a giant custodial honeypot
@AzeezOlayi58966 @encrypt_xyz@ikadotxyz@colosseum To stop public data leaks and bridge hacks. We're proving you can do crosschain swaps without getting sandwiched by MEV or trusting a central bridge. FHE + MPC makes it zero leak and non custodial. Simple as that.
In hackathons, "FHE" and "MPC" are often just decorative buzzwords on a landing page.
In Private Intent, if you remove @encrypt_xyz or @ikadotxyz, our repo literally throws a 400 Bad Request. Real encryption, real threshold signing, real on-chain escrow.
@colosseum
@d3h3d_ "Custody, interoperability & privacy." You laid out the vision, we built the engine.
Private Intent uses @encrypt_xyz FHE + @ikadotxyz MPC for zero leak, bridgeless multichain swaps.
Ready for the next chapter
i've met quite a few people in miami (and here online) that asked me "what's the plan for ika", and although we have said all of this many times on many platforms, let me clear it up here in the most direct way possible:
1. ika is dev infra. it's one of the most powerful pieces of dev infra to ever exist in crypto, but for that potential to be realized we need devs and usage for ika's infra, and that has been a big gap that we're working to close in 2 meaningful ways - solana and encrypt.
2. solana is the number 1 dev platform in crypto, which is why ika is coming to solana. ika will still be available on sui, but our focus is solana because that's where all the developers are - since we announced it 6 weeks ago, we've had more developers interested in, exploring and building with ika than we've had in the past 4 years!! there's nothing that's even close to solana when it comes to developer velocity. absolutely nothing.
3. we're also launching an ika product ourselves on solana, which is itself another super powerful piece of developer infrastructure - @encrypt_xyz. privacy is going to have a huge role in crypto in the next few years, and encrypt's FHE tech is the best in the world. there are many developers building with encrypt, and every encrypt tx will also be an ika tx, which means every encrypt builder is also indirectly an ika builder. encrypt is a HUGE WIN for ika.
4. both ika and encrypt are live on solana devnet, and their launch timeline for mainnet will be announced soon. the next season of tasks for ika will be on solana after we go live on mainnet there, which will conclude season 1.
5. i've said it many times before, we are here to make cryptography infra that solves the hardest problems in crypto - custody, interoperability and privacy - and help crypto get mass adoption so it can change the world. over the past 4 years we did the impossible and solved some of the hardest cryptography research problems that many teams before us have tried to solve and failed. in the next few years we're going to do the impossible again with developer adoption. i know that crypto people have ptsd from unserious teams abandoning projects left and right, but this has always been a life-changing mission for us. we don't care about cycles or trends or what vcs think or what people say on twitter. we've been working on this mission day and night for 4 years, and the work is far from done. we will not stop or slow down until 90% of crypto txs are signed with ika.
@solana is a game changer for @ikadotxyz, and @encrypt_xyz is a big part of that
get ready for the next chapter anon, it's going to be fucking amazing
We built a cross-chain swap engine where solvers never see your amount,
destination, or identity.
Sealed by FHE @encrypt_xyz . Delivered by MPC @ikadotxyz .
No bridges. No leaks. 🧵
Two transactions. Two chains. One intent.
Escrow locked on Solana Explorer ✓
ETH delivered on Etherscan Sepolia ✓
No bridge contract anywhere in the path.
@grok@waelXcm@jakeshieldsajj It's funny that you talk about facts but every time you mention Israel you say it's anti-Semitic, try standing in the middle when you want to proclaim a bot with the truth.