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dWallet Network Integrates with Monad, Pioneering Multi-Chain DeFi

source-logo  blockchainreporter.net 30 April 2024 14:20, UTC

In a groundbreaking move for the decentralized finance (DeFi) space, dWallet Network has announced its integration with Monad, the leading EVM-compatible Layer 1 blockchain. This collaboration marks a significant milestone in the evolution of DeFi, introducing native multi-chain capabilities to Monad’s ecosystem and revolutionizing the way developers build on the platform.

dWallet Network serves as the infrastructure for programmable native Bitcoin, providing developers with innovative tools to enhance DeFi applications. By supporting Monad, dWallet Network enables developers within the ecosystem to leverage non-collusive and massively decentralized building blocks, unlocking new possibilities for multi-chain DeFi.

Keone Hon, Co-Founder and CEO of Monad Labs, expressed enthusiasm for the integration, emphasizing, “This support from dWallet Network is a testament to our dedication to providing the best possible platform for EVM developers. Our unmatched speed and performance, combined with dWallet’s innovative multi-chain capabilities, not only solidify Monad’s position as the leading blockchain for DeFi development but also significantly enhance the tools available to our developers. We are setting a new standard for what developers can achieve in the DeFi space.”

Seamlessly Interconnected DeFi Landscape

At the core of the integration is dWallet Network’s pioneering technology, utilizing the 2PC-MPC protocol invented by its team. This protocol enables the generation of ECDSA signatures in a non-collusive manner, involving both end-users and a significant number of nodes. This approach ensures security and decentralization, crucial elements for building a robust DeFi ecosystem.

Omer Sadika, Co-Founder of dWallet Network, underscored the significance of the integration, highlighting, “By aligning with Monad, we’re bringing our natively multi-chain technology to the forefront of the fastest and most efficient EVM ecosystem. This integration is a major step forward in our mission to facilitate a seamlessly interconnected DeFi landscape, and we’re excited to see the revolutionary applications that will emerge from this.”

The integration reaffirms Monad’s position as a leader in blockchain innovation, offering developers a fertile ground to create groundbreaking DeFi solutions. Monad’s decentralized, developer-forward approach, combined with dWallet Network’s cutting-edge technology, paves the way for faster, more secure, and truly decentralized DeFi applications.

Monad, known for its pipelined execution of Ethereum transactions, provides developers with a versatile platform to explore new possibilities in DeFi. dWallet Network, on the other hand, serves as the home of dWallets – programmable and transferable signing mechanisms that enable asset management and logic enforcement across Web3 in a decentralized manner.

Together, Monad and dWallet Network are driving the evolution of DeFi, empowering developers to push the boundaries of innovation and create a more interconnected and inclusive financial ecosystem. As the collaboration continues to unfold, the industry eagerly anticipates the revolutionary applications that will emerge, reshaping the future of finance.