Bridged Wrapped Ether (IM Bridge) (SETH)

Bridged Wrapped Ether (IM Bridge), with ticker SETH, is a coin that operates within the IOTA ecosystem. It is built on the Community-Driven Secure Multi-Party Computation (MPC) platform. MPC is a cryptographic subfield that enables parties to compute functions while collectively preserving their inputs’ privacy. In the context of IOTA, the MPC platform is utilized for bridging, custody, oracles, and other utilities yet to be revealed. This ensures a secure and shared governance experience for users.

The security of the IM Bridge coin is maintained through a decentralized network of validators chosen from the community. This ensures that any single entity does not control the platform and promotes its robustness. Additionally, the IOTA MPC platform is designed to be scalable, allowing builders to create new utilities on top of it and leverage the power of decentralization. It is driven and governed by the IOTA community, where key decisions are made through a voting process.

IOTA MPC has various use cases, one is bridging assets like IOTA, ETH, and BTC onto chains such as the Shimmer EVM. This enables users to swap and generate yield utilizing DeFi innovations. The platform also incorporates oracles, providing more trustworthy price feeds from multiple sources, making lending and leverage-trading protocols essential. Additionally, the custody function of IOTA MPC can be applied to manage crypto assets for various entities, including venture capitalists, private equity firms, and decentralized custody tokens or non-fungible tokens (NFTs).