dWallet Network Partners with Secret Network to merge native Multi-chain DeFi with Decentralized Confidential Computing

dWallet Network Partners with Secret Network to merge native Multi-chain DeFi with Decentralized Confidential Computing

June 3, 2024

dWallet Network, known for its infrastructure that enables programmable Multi-chain native DeFi, is thrilled to announce a new strategic partnership with Secret Network, a blockchain that provides decentralized confidential computation to Web3.. This collaboration marks a significant milestone in the advancement of privacy-preserving technologies for multi-chain DeFi.

Through this partnership, dWallet Network will integrate with Secret Network to empower developers to build DeFi applications that not only operate across multiple chains natively but also prioritize user privacy and data security. By leveraging Secret Network’s unique capability for encrypted computations, dWallet Network will enhance its offering, allowing for the creation of natively multi-chain DeFi applications that are private by design.

dWallet is a groundbreaking technology that provides developers with unprecedented control over assets and the ability to enforce logic across any network. Using cryptographic signatures, which are a standard method for authenticating blockchain transactions, dWallet ensures that operations performed by its technology are indistinguishable from those of regular users from a network perspective. This approach not only facilitates programmability across traditionally non-smart contract networks like Bitcoin but also adheres to the essential Web3 principles of decentralization and user ownership.

Patrick, Head of Partnerships at Secret Network expressed his enthusiasm about the partnership saying “By partnering with dWallet Network, we are poised to redefine security and privacy in the DeFi space. Developers in the Secret Network ecosystem can now leverage dWallet Network’s native Multi-chain capabilities to create DeFi solutions that are both multi-chain and privacy-centric, enhancing user trust and security.

This integration enables many use cases, one such use case is privacy-preserving order books e.g a DEX could be built on Ethereum, which would store its orderbook logic in a Secret smart contract, allowing bids to remain private and MEV-resistant. Users would interact with the front-end on Secret, and when their order is ready to be executed, their corresponding Ethereum wallet would make the transaction.The entire dex smart contract could be on Secret, ensure privacy, and allow users to do atomic swaps of native BTC for native ETH without bridging or wrapping.

Omer Sadika, Co-Founder of dWallet Network, also expressed his enthusiasm about the partnership, saying, "This collaboration with Secret Network is not just a technical integration; it represents a shared vision for a more secure and private decentralized world. Our combined technologies will set a new standard for privacy and security in DeFi, offering developers the tools they need to innovate without compromising on privacy.

As the blockchain landscape continues to evolve, the partnership between dWallet Network and Secret Network underscores both organizations' commitment to pushing the boundaries of what's possible in DeFi, focusing on enhancing user privacy and security across the ecosystem.

dWallet Network is the home of dWallets - programmable and transferable signing mechanisms that live on-chain. dWallet Network empowers builders on L1s and L2s to utilize dWallets as a building block for managing assets & enforcing logic across all of Web3 in a decentralized and non-collusive way.

To learn more visit dwallet.io

About Secret Network

Secret Network is the first mainnet blockchain with privacy-preserving smart contracts, launched in 2020. This makes it possible to build apps that are decentralized and permissionless—yet private.

To learn more visit https://scrt.network/

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