dWallet Network Integrates Native Multi-Chain DeFi with Monad

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dWallet Network Integrates Native Multi-Chain DeFi with Monad
Blockonomics



dWallet Network – the infrastructure for programmable native Bitcoin – announced adding support for EVM-compatible Layer 1 blockchain, Monad

The latest integration unveiled on April 30th aims to solidify Monad’s position as the leading ecosystem for EVM builders, utilizing dWallet technology to introduce native multi-chain capabilities.

Multi-Chain DeFi Integration

According to the official press release shared with CryptoPotato, within the Monad ecosystem, dWallet Network plans to enable developers to leverage decentralized building blocks for creating DeFi applications across multiple chains without collusion and with high decentralization.

This integration is expected to position Monad as a prominent EVM venue for utilizing dWallet technology and provide developers with efficiency and scalability to innovate in DeFi.

Phemex

Commenting on the initiative, Keone Hon, Monad Labs Co-Founder and CEO, said,

“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.”

interconnected DeFi Landscape

The dWallet Network employs 2PC-MPC to implement the dWallet feature. Invented by its team, this multiparty protocol allows the creation of an ECDSA signature in a “non-collusive” manner. This essentially involves not just the end user but also a significant number of nodes, which could potentially be in the hundreds or thousands.

dWallet said that the integration represents a crucial advancement toward achieving a fully interoperable and decentralized financial ecosystem while highlighting that Monad ecosystem developers will find it straightforward to integrate dWallet’s native multi-chain capabilities into their applications. This move, in general, is expected to provide users with a smooth experience across different blockchain platforms without compromising security or user control.

Meanwhile, Omer Sadika, dWallet Network co-founder, emphasized the importance of this integration, adding that the partnership’s end goal is to facilitate an “interconnected” DeFi landscape.

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