UTONIC and TonBit have created a security alliance for TON and Telegram
The UTONIC restaking protocol, together with TonBit experts, launched the Security Alliance initiative aimed at improving security in The Open Network (TON) ecosystem. As part of the partnership, the developers presented a solution for decentralized storage of private keys based on MPC and AVS technologies.
Introducing the TON Security Alliance: @UTONIC_uTON x @tonbit_ x @ParticleNtwrk x @PinkPunkBotEN
Together, we're redefining safety with:
✅ MPC for private keys
✅ AVS for asset snapshots & insurance
✅ Decentralized tools for TON & Telegram apps
🔗 Full details:... pic.twitter.com/5eGSWHWFmQ
November 16 Telegram bot for trading meme tokens DEXX.ai he was subjected to a hacker attack on the server, as a result of which the users of the service lost funds. According to UTONIC representatives, the incident showed the vulnerability of Telegram applications that rely on centralized asset storage methods.
The UTONIC solution divides users' private keys into three shards. They are stored on:
The user's device.
The trading platform.
UTONIC AVS networks.
Each transaction requires a 2-of-3 multi-signature. In case of loss of the user's wallet, AVS UTONIC can act as a trusted layer for asset withdrawal or replacement of the private key.
Data: UTONIC.
"This approach ensures that private keys are stored in a decentralized manner and cannot be exported by one party. In addition, trading bots can contribute funds to UTONIC's restaking pools to provide insurance for compensating users due to AVS-related losses," the press release says.
The UTONIC protocol supports the security of the AVS network using:
periodic asset snapshots;
API, which allows projects in the TON/Telegram ecosystem to selectively scan and verify modules critical to their activities.The UTONIC AVS service can be used to create gaming and financial applications.
"Thanks to the random number generator and the decentralized storage of in-game points, AVS can minimize the risks associated with centralization. In the field of finance, the network provides decentralized storage of MPC wallets, orders and the operation of price oracles," the representatives of the project commented.
As part of the Security Alliance, TonBit and UTONIC experts audit TON-based projects and implement AVS to ensure their safe operation. Besides them, the organization includes PinkPunk trading bot and Particle Network, a developer of multi-chain solutions.
"We are pleased to see how all participants in the ecosystem, including trading bots, make custodial and non-custodial MPC decisions. Centralized storage carries huge risks, so it is extremely important to use the best available technologies to create secure services as soon as possible," commented Pengyu Wang, CEO of Particle Network.
Earlier, the UTONIC protocol launched uTON, a restaking program in the TON blockchain.
