Thread by @GarrettBullish

Today is the last day of 2022. Instead of reviewing 2022, I decided to make an announcement about a NEW #Shimmer infrastructure. Perhaps it's not the best timing for announcement, but I cannot wait. Neither should the #IOTA community.

1/ in the last months, the best devs within the TanglePay and Tangle Rally teams have been working on building the #IOTA MPC (Secure Multi-party Computation Platform).
What is an MPC? en.wikipedia.org/wiki/Secure_mu…

2/ MPC allows several parties to jointly compute a function over their inputs while keeping the inputs private. It ensures security and shared governance. There are several utilities of such technology such as bridging, custody, oracle.

3/ bridging could connect different chains (ex. IOTA, Shimmer and ASMB) and their assets. IOTA from Tangle can be “bridged” to Shimmer EVM or other chains. So that IOTA can be used to swap and generate yield on Shimmer EVM and used in different DeFi innovations.

4/ multi-party custody can be applied to VCs and PEs to manage their crypto assets. It can also be applied to custody like the current Iotabee crosschain swap to store LP fund in a decentralized way. The fund will no longer be controlled under one private key.

5/ oracle can be highly important for lending and leverage-trading protocols as price feed.

6/ who owns the platform? The community.
Validators will be chosen by the community to safeguard the protocol and proceed with the governance decisions by the community.

7/ what about the potential revenue?
There will also be revenue when utilities are created.
I propose the revenue to go to Shimmer Governance treasure (to support Shimmer building), validators, adopters and dev team.

8/ where are we now?
The coding is ready and audit will finish soon. The platform will be ready by Shimmer EVM and we have to move fast. Find more details here and join the discussion👇
govern.iota.org/t/iota-secure-…