In a groundbreaking move that promises to redefine the decentralized exchange (DEX) landscape, Evo Exchange has announced plans to integrate io.vault, the cutting-edge self-custody solution developed by io.finnet. This strategic partnership will make Evo Exchange the first DEX to leverage a trustless multi-party computation (MPC) solution, completely eliminating counterparty risk and single points of failure.

Evo Exchange has already experienced the benefits of io.vault firsthand, having utilized the platform for secure treasury management. The company's positive experience with io.vault's robust security features and scalable architecture has paved the way for this expanded integration.

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The Problem: Counterparty Risk in DEXs

Decentralized exchanges have transformed digital asset trading by providing a trustless alternative to traditional centralized exchanges. Nevertheless, DEXs offering leverage or order books still depend on a "semi-custodial" model, where funds are held in smart contracts that come with their own risks. This exposure can compromise the security and autonomy that DeFi aims to deliver.

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The Solution: trustless MPC with io.vault

io.vault is a self-custody solution that leverages trustless Multi-Party-Computation (tMPC), built upon open source cryptography, which enhances security by distributing weighted signing authority among multiple participants. The solution, audited by Kudelski Security, provides both scalability and security for managing digital assets. Additionally, configurable key share distribution & signing requirements, enable customization to fit specific organizational needs while maintaining user autonomy over assets. By eliminating single points of trust or failure, io.vault aligns perfectly with the principles of decentralization.

Evo Exchange's integration of io.vault will allow users to maintain full control over their assets while enjoying the benefits of a scalable, secure DEX. With io.vault, users can transact with their digital assets without relying upon intermediaries, ensuring that their funds remain secure.

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A New Era for DEX Security

Evo Exchange's adoption of io.vault marks a significant milestone in the evolution of DEX security. By being the first to implement a trustless MPC solution, Evo Exchange is setting a new standard for decentralized exchanges.

This integration will not only enhance the security and trustlessness of the Evo Exchange platform but also pave the way for wider adoption of MPC-based self-custody solutions in the DeFi space. As the DeFi landscape continues to mature, the importance of eliminating counterparty risk and ensuring user control over assets will only continue to grow.

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The Future of DEXs: Trustless and Secure

Evo Exchange's decision to integrate io.vault is a testament to the platform's commitment to providing a secure, trustless trading environment. By leveraging io.vault's robust MPC technology, Evo Exchange is poised to redefine what users can expect from a DEX.

As the first DEX to adopt a trustless MPC solution, Evo Exchange is at the forefront of a new era in decentralized exchange security. This groundbreaking integration of io.vault sets a powerful precedent, demonstrating that it's possible to create a DEX that combines the benefits of decentralization with the robust security of self-custody.

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The future of DEXs is trustless, secure, and powered by cutting-edge technologies like MPC. With its io.vault integration, Evo Exchange is leading the charge into this exciting new era.

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See press release 

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About Evo Exchange:

Evo Exchange  is a pioneering decentralized exchange (DEX) on a mission to defragment the fractured DeFi landscape while prioritizing robust security. Currently, DeFi users must navigate multiple platforms and blockchains for different financial services. Evo Exchange is changing this by providing a unified platform that consolidates the DeFi ecosystem, offering a CEX-like experience on a DEX.

What sets Evo Exchange apart is its ability to unify liquidity across multiple blockchains, enabling seamless cross-chain trading, borrowing, and lending. By defragmenting DeFi and providing a seamless, unified platform, Evo Exchange is redefining the DEX landscape.  Join the Evo Exchange community to experience the power of trustless, decentralized, and secure finance, and discover a new era in DeFi accessibility.

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About io.finnet:

At io.finnet we believe companies should seamlessly access and navigate the Digital Asset world, all while ensuring maximum security.

We are a technology company that provides secure access to Digital Asset Infrastructure for various industries, including finance. We specialize in enterprise blockchain, cryptographic security, multi-party computation (MPC), and lightning-fast secure APIs.

Our comprehensive product portfolio includes:

• io.network, a 24/7 instant settlement platform that leverages private & permissioned blockchain technology; 
• io.vault, a self-custody solution enabling businesses to manage their digital assets securely and scalably;‍
• io.flow, enabling enterprises to access a network of payment providers to process multi-currency transactions through local and cross border payment rails globally.