Kaze
@kazebeat
while the $sui ecosystem awaits the $wal airdrop next week, pay attention to the @ikadotxyz NFT card collection $ika You may be able to better position yourself for Ika's TGE by holding "Ika-Chan" and squid keys, which can found on Tradeport. In general, holding a few key NFT collections within the Sui ecosystem is a good strategy. Keep reading to learn more #airdrop #ika #sui #wal
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Kaze
@kazebeat
.:Details:. Ika's NFT is a collection of 10,000 with multiple rarities, ranging from common all the way up to mythic. They have a leveling system built in, each with a set number of squid keys that users can claim, depending on the rarity. Leveling up requires an increasing amount of Sui. As you see in the images, NFTs can have multiple evolution stages. The exact use case for this is unknown, but I do think one of the main goals is to collect squid keys. Interestingly, leveling up your Ika-Chan increases the card's ranking.
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Kaze
@kazebeat
.:strategy?:. Without clear guidelines, most of this is speculation. But knowing how other TGEs, such as Walrus Protocol, $wal are right around the corner, I think a viable strategy is to own at least one of these NFTs. Even better is to also own at least one key. If you wish to collect multiple keys, your ROI is likely better through leveling commons (to claim 1 key), rather than dropping a large cost up front by buying a mythic. Either way, we'll find out the utility soon!
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Kaze
@kazebeat
.:About Ika:. Ika is a highly scalable MPC network that leverages Sui's architecture. They developed a novel system called "2pc-mpc" that allows web3 threshold cryptographic signing at scale, upwards of 10,000 signatures/sec. Check out their research on 2pc-mpc here: https://ika.xyz/blog/ika-2...
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Kaze
@kazebeat
.:Typical MPCs:. Coinbase wallet, fireblocks, and copper are a few custody solutions that leverage MPCs to mitigate security risks inherent w/ private key management. However, standard MPC networks use unicast communication, which requires every participant in the network to communicate directly with each other. The effect is.. >low signatures per second >limits the number of participants to a few >takes minutes to generate 1 signature w/ 10-20 participants >computation overhead exponentially increases w/ more participants In other words, it don't scale
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Kaze
@kazebeat
.:How Ika is Different:. Ika's design uses broadcast communication instead of unicast, allowing for hundreds or thousands of participants (nodes) to process signature requests from many more users. The throughput is 1 or 2 orders of magnitude more than standard mpc networks -- exactly what Sui needs for mass adoption. It's quite a cool project and great vibes in their Discord, which you should totally join! https://discord.gg/rF3vhs7...
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