Wormhole is developing two key DSS's on Karak: 1) Decentralized Validator Network for Native Token Transfers (NTT) 2) Decentralized Relay Network
A DSS is a decentralized software service built on Karak, leveraging restaked assets for security and scalability. It is flexible, extensible, and scalable, making it suitable for everything from basic utilities to sophisticated protocols and infrastructure designs like Wormhole
1) Decentralized Validator Network for Native Token Transfers (NTT)
This network works alongside Wormhole’s Guardian Network to create a more secure and decentralized token bridge. Validators come to a consensus on token transfers ensuring enhanced security and decentralization
2) Decentralized Relay Network
This network securely relays Verifiable Action Approvals (VAA) from Wormhole validators to destination chains, offering users a superior bridging experience at a lower cost
Wormhole’s multichain capabilities also unlock a new design space on Karak, enabling exotic asset utility and enhancing crypto-economic security for other networks and we look forward to sharing more developments soon
This integration accelerates the universal security vision
We are actively onboarding category-shaping teams onto Karak
If you’re interested in building on a Wormhole DSS, considering developing a DSS on Karak, or are already building a DSS on Karak, please reach out
Yesterday we soft launched Karak Private Access and grew to over 100M+ TVL in less than 24 hours
Due to this rapid growth, we also wanted to take a moment to reclarify and discuss the utmost priority to us as a community
Security
Our approach to engineering and writing smart contracts is to keep it simple, readable, and build on battle-tested components
Over the past several months, we have built a great relationship with @bytes032 and his world-class team @milotruck @HollaWaldfee100 at @RenascenceLabs
Among many things, they provided support in auditing K2 (L2 built for Karak) as well as leading the audit for Karak Restaking
We recently announced our $48M Series A at $1B+ to accelerate universal security for @Ethereum and beyond
Today we're excited to provide a peek into the Karak endgame
The universal restaking layer powered by the entire cryptoeconomy across every asset and every chain 🍊
Why restaking for everyone?
Karak makes it easy to provide cryptoeconomic security with any asset, unlocking a new design space for developers to seamlessly and securely create innovative infrastructure designs
In the end, the security of a restaked protocol is measured by the dollars of economic security
These dollars can be provided in assets beyond ETH without sacrificing security