- TanglePay team has been building the IOTA MPC platform.
- The MPC platform enables functions such as bridging, custody, and oracle.
TanglePay is building the IOTA MPC (Secure Multi-party Computation Platform) that allows multiple parties to jointly compute a function over their inputs while keeping the inputs private. This technology ensures security and shared governance. The platform has several utilities, including bridging, custody, and oracle.
Dear #IOTA community,
IOTAMPC is gearing up for testing on the #Shimmer EVM testnet, beginning with the Bridge function. We need your help to select the IOTAMPC logo.
Please vote for your favorite option below and RETWEET to encourage more community members to participate. pic.twitter.com/CqfCMpxSyo
— IOTAMPC (@iotampc) April 3, 2023
Bridging enables the connection of different chains like IOTA, Shimmer, and ASMB, among others, and their assets. Multi-party custody can be applied to VCs and PEs to manage their crypto assets. The MPC platform can also apply to custody like the current Iotabee crosschain swap to store LP fund more securely. The oracle is essential for lending and leverage-trading protocols as price feed.
TanglePay is calling for the community (Shimmer Governance, leading projects, and individuals) to apply for the role of validators. The validators are the controllers of the platform, and they should be chosen and trusted by the community.
The MPC platform will have a revenue stream, including 30% to the validators, 20% to Shimmer governance treasure, 20% to the implementing platforms, and 30% to TanglePay as the technical delivery team that will upgrade the platform and ensure timely delivery.
The TanglePay and Tangle Rally dev team have completed the coding, and the MPC platform and bridge are ready to run. Currently, the codes are under auditing, and the team is moving into applications for validators. Interested parties can contact TanglePay for more information.