Ika
IKAA distributed signing network on Sui enabling programmable dWallets
Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 2.28% | 4.09% | 17.16% | 25.91% | 30.19% | -- |
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Tokenomics
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Data source: CoinGecko
IKA is used for payments, security staking to safeguard signing, and governance in the Ika (dWallet) network; there is no public burn mechanism.
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About Ika
Ika, formerly dWallet Network, is a zero-trust MPC network on Sui that went live on mainnet in July 2025 and offers developers and institutions a programmable, transferable signing primitive called dWallet: the user and the network each hold one key share and jointly produce ECDSA or Taproot signatures through the 2PC-MPC threshold protocol, with the full private key never reconstructed anywhere. It replaces the custody model of cross-chain bridges, since BTC, ETH and Solana assets stay on their native chains while signing authority is controlled by a Move contract on Sui, with no wrapped assets or multisig committee.
More than one hundred operators stake to participate in signature generation, and the network claims tens of thousands of signatures per second at sub-second latency; teams such as Native, Rhei Finance and Full Sail build native BTC lending, institutional custody and AMMs on top. Because 2PC-MPC requires the user-side share in every signature, a signature cannot be produced when the user's device or share is unavailable, which is a different experience from leaving assets with a custodian that can move them at any time.
Progress: Agent Skills launched in March alongside an announced Solana devnet for Q2; in June IKA debuted on Gate Launchpad with a 200M token pool priced at 0.001424 GT plus 0.025 USD1; after hitting an all-time low of $0.00155 on June 13, the token surged 33.95% on June 17 driven by the Move ecosystem narrative.
Token unlocks: Team and investor tokens began unlocking in February, seven months after TGE; about 70% of the 10B supply remains locked with roughly 30% circulating, and FDV exceeds 3x market cap, creating notable dilution overhang.
Ika is a parallel MPC network for Sui, combining a 2PC-MPC scheme with Mysticeti consensus to deliver sub-second signing, with throughput the company puts at 10,000 times conventional MPC networks. A strategic investment from the Sui Foundation took total funding above $21 million, with a peak private valuation of $600 million FDV and backers including DCG, Big Brain Holdings and Naval Ravikant.
On the community side, Ika's MF Squid Market NFT campaign drew over 1.4 million SUI, among the largest NFT campaigns in Sui history, and Sui builders including Covault, Lucky Kat, Atoma and Ekko announced integrations for cross-chain DeFi, institutional custody, chain abstraction and AI-agent guardrails. That funding and activity sat mainly in 2025, and public milestones in 2026 have been limited.
Future strategy and roadmap: launch the IKA token natively on Sui to settle MPC signing services, position sub-second MPC as the rail for assets such as Bitcoin entering Sui, and expand in institutional custody and AI-agent governance.
Omer Sadika — Co-founder & CEO; previously co-founded Salt Security and Odsy Network, a YC alum, founded dWallet Labs in 2022 and launched Ika.
Yehonatan Cohen Scaly — Co-founder & CTO; cryptography expert and co-author of the 2PC-MPC protocol.
David Lachmish — Co-founder & Product Lead; turns the MPC technology into developer-facing products.