Holonym Foundation just teamed up with Kelp DAO, an Ethereum-based liquid restaking protocol, to supercharge the security of its Mishti Network. This collaboration is all about making digital identity solutions on the blockchain safer and more accessible.
Boosting Mishti Network Security
Kelp DAO, created by Amitej G and Dheeraj B, specializes in liquid restaking solutions for public blockchains. They’re working on a token called rsETH to add liquidity to assets locked in restaking platforms like EigenLayer. Their goal is to improve upon the current restaking process and reduce risks.
This partnership resulted in a massive $677.27 million influx of restaked Ethereum on the Mishti Network, bringing the total to a whopping $1.4 billion! This follows a similar partnership with Renzo Protocol, which added another $800 million in restaked ezETH.
This huge increase in restaked ETH shows that more and more people trust Holonym’s infrastructure and its commitment to a more reliable and efficient blockchain.
Expanding Digital Identity Solutions
Holonym’s main focus is on creating decentralized digital identity solutions. They want to build a system where users can create, recover, and manage their cryptographic keys without relying on any central authority, keeping their data safe and secure.
Governments are starting to pay attention to these kinds of solutions, and the crypto industry is showing the world how they can be used in real life. Holonym’s Mishti Network lets users create “Human Keys,” making the whole crypto wallet experience much smoother. Their aim is to make this easy for everyone, from beginners to seasoned crypto users.
These Human Keys use zero-trust security on a decentralized network, protecting user information. They also support universal accounts that work across devices, secured by zero-knowledge technology and Ethereum’s robust security—all without needing third-party apps.
As Shady El Damaty, co-founder of Holonym Foundation, puts it: “We can decentralize things like passwords, security questions, and even face ID, without needing companies like Apple or Google. This opens up entirely new possibilities.”
