Summary Proposal Cobo is a trusted leader in digital asset custody and wallet infrastructure solutions. Founded in 2017 by blockchain pioneers including Discus Fish, Cobo is trusted by more than 500 organizations worldwide, safeguarding billions of dollars in assets with a zero-incident security track record.
Today, Cobo provides the industry’s only unified digital asset wallet platform that integrates all 4 wallet technologies in one place – Custodial Wallets, MPC Wallets, Smart Contract Wallets, and Exchange Wallets. By combining a comprehensive suite of wallet solutions with advanced risk controls and developer tools, Cobo empowers organizations and developers to innovate and scale with ease.
In response to increased demand from Cobo’s clients, we propose integrating Metis Chain into our unified custody platform, Cobo Portal. This integration will allow our users to access the Metis Chain and its DeFi protocols for on-chain interactions through our secure MPC solution.
Value Proposition
By integrating Metis Chain into Cobo Portal, we offer over 500 institutional clients access to buy native tokens on Metis and engage with the broader Metis ecosystem protocols, which can enhance liquidity in its DeFi projects. In addition, we provide secure custodial wallet and MPC wallet solutions, enabling participants in the Metis ecosystem to manage their assets confidently.
Uniqueness Factor
Institutional-Grade Security: Cobo provides top-tier security for digital assets through its multi-signature cold storage and MPC (Multi-Party Computation) technology
DeFi Integration: Cobo facilitates access to DeFi projects by providing liquidity support, and automated trading strategies, and co-marketing initiatives, enhancing the overall ecosystem’s growth and sustainability.
Benefits for Users
Access to Institutional-Grade Custody: Metis users are able to leverage Cobo’s full suite of custody solutions to securely manage digital assets.
Comprehensive Asset Coverage: Access 80+ chains and 3,000+ tokens in a single platform.
Wallet-as-a-Service APIs: Access a full stack wallet infrastructure which includes custodial wallets, MPC wallets, smart contract wallets and exchange wallets.
Tri-party Key Management for Major TVL Providers: Cobo MPC Wallets allow for joint management of assets to ensure that no one party can unilaterally move user funds.
Flexible Risk Control: Granular control over assigning roles, customizing transaction and governance policies, and approval workflows.
Increased Institutional Adoption: Facilitate top-tier institutional clients to participate in DeFi protocols within Metis ecosystem through our MPC solution such as staking, liquidity provision etc.
Enhanced Security for Institutional Clients: Institutional-grade custody solutions utilizing multi-signature cold storage and MPC technology to provide robust protection against hacks and unauthorized access against institutions.
Strategic Partnerships and Network: Access to Cobo’s extensive partnerships with leading centralized exchanges, staking pools (f2pool and stake.fish), and APAC-centric institutions and venture capital firms.
How does Cobo’s integration of Metis Chain into its unified custody platform, Cobo Portal, enhance the accessibility and security of DeFi protocols for institutional clients, and what are the specific benefits provided to the Metis ecosystem through this integration?
Given Cobo’s unique position as a provider of all four wallet technologies (Custodial, MPC, Smart Contract, and Exchange Wallets), explain how the company’s advanced risk controls and developer tools contribute to the innovation and scalability of digital asset management for organizations, particularly in relation to the benefits and security measures offered for Metis users and institutional clients.
What are some examples of said “institutional clients” utilizing Cobo now?
Context for my question…do you think the existing user base of Cobo’s consumer facing tools actually cares to explore a new ecosystem just because a new chain was added to the tool they are utilizing?
Who pays the 50K integration fee? how long should, the person fronting that money, expect to see on chain value (tx’s, volume, TVL)?
(1) First of all, the integration of Metis Chain will bring MPC/full custody for assets on Metis Chain. What that entails is that when institutional users want to deposit/withdraw on Metis Chain as well as perform on-chain interactions, the MPC solution features key sharding which ensures that no unauthorized party can move the user assets unilaterally, which guarantee security against hacks and frauds.
Further to that, Cobo has its in-house customizable granular access control for its clients, which means that institutions when leveraging Cobo’s MPC can set up multiple risk policies to safeguard the assets.
And finally in the event of a lost or compromised key share, the remaining key shares can be used for key recovery which enhances user safety for institutions.
(2) Within our wallet platform, we offer features such as address book for users to manage known addresses; user roles & permissions; transaction policies (who can initiate a transaction, whether specific API initiators apply); governance policies (such as who can invite/delete user, who can freeze user); advanced risk management such as custom workflows/on & off-chain policies such as when initiating a deposit onto Uniswap from MPC, who can be the initiator, who can be the approvers, whether token approval policies apply etc.
All these in-depth granular access policies ensure that our users have the autonomy and flexibility in defining fund flow.
Customers include CEXs (Deribit, Bitget, Pionex, Deepcoin, BIT, WOO), crypto firms (Antalpha), mining pools (f2pool), VCs (Hashkey Capital, SevenX Ventures), family offices, DeFi funds etc.
The integration of Metis onto Cobo can bring trading teams for liquidity and arbitrage opportunities on both CeFi and DeFi within the same platform.
Further to that, we have DeFi funds that perform yield-farm across chains for optimized returns, which the support of Metis chain will open up more DeFi opportunities such as lending/borrowing on Aave V3, LP on Stargate etc.
(1) Key sharding technology ensures that no authorized party can move users assets unilaterally and that transactions will only be initiated when the multi-signature threshold defined by the client is passed through. When a user opted for a MPC wallet, it is the practice that the platform/company/protocol prefers a organization-controlled MPC wallet as a white-label custodial solution and that security can be guaranteed with asset recovery mechanism through third-party insurance provider.
(2) I believe that TVL/transaction volume shall be tied with the incentivisation structure such that liquidity contribution can be aligned with the expected token payout.
(3) While we are more B2B-oriented, we have dedicated 1:1 support via private communication channel with clients such as Telegram.
