Sui implements native Bitcoin and Ethereum bridging with dWallet partnership
Partnership might boost Sui's crescent DeFi TVL.
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Multi-chain protocol dWallet Network announced on Paris Blockchain Week a partnership with Mysten Labs to bring native interoperability to layer-1 blockchain Sui, through native Bitcoin and Ethereum swaps.
“We are excited to partner with Mysten Labs and bring our decentralized, non-collusive dWallet building block to the Sui ecosystem,” commented Omer Sadika, co-founder of dWallet Network. “This partnership not only broadens the horizons for DeFi and gaming on Sui but also represents a significant leap towards realizing our vision of a seamless, multi-chain future.”
This partnership might boost Sui’s total value locked (TVL), which has risen by over 200% since January. The TVL rise was reflected in Sui’s native crypto price, which leaped almost 90% in the same period.
Meanwhile, dWallet Network is growing by adopting the 2PC-MPC protocol, a pioneering multiparty computation method, which is central to this integration. It allows for the creation of ECDSA signatures in a decentralized and non-collusive manner, involving a substantial network of nodes.
Additionally, the partnership is set to enhance user experience through the innovative use of dWallets in tandem with Sui’s zkLogin feature, simplifying asset management across blockchains. The collaboration also extends to community initiatives, such as the co-hosting of the Overflow hackathon, demonstrating a commitment to fostering innovation within the Sui ecosystem.
“The introduction of dWallet’s innovative tooling will enable users in the Sui ecosystem to operate seamlessly across disparate protocols,” stated Evan Cheng, CEO and co-founder of Mysten Labs. “We’re thrilled to join dWallet in creating a multichain future,” he concluded.
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