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Cobo MPC Lite

Overview

Cobo MPC Lite is an enterprise-grade self-custody solution powered by Cobo’s next-gen multi-party computation (MPC) technology. Cobo MPC Lite is designed for Web3 companies and developers of all sizes, including startups. Whether you are a small startup, a mid-sized crypto fund, or a large enterprise, Cobo MPC Lite offers cost-effectiveness from just $99/month with no compromises on security and ease of use.

With Cobo’s MPC technology, private key-shares are individually generated within separate secure environments, encrypted, and divided across multiple parties, each blind to the other. These parties will jointly sign transactions without ever exposing their individual key-share to one another, or materializing the full private key at any point. This effectively removes single points of failure and makes it significantly more challenging for malicious actors to gain control of assets.

As a self-custody solution, Cobo MPC Lite ensures that users will always hold the majority of key-shares, empowering them to maintain full authority and autonomy over their assets at all times.

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Benefits

✅ Greater Control and Privacy

As a self-custody solution, Cobo MPC Lite empowers you with a heightened degree of privacy and unparalleled control over your digital assets. By removing the reliance on third-party custodians, Cobo MPC Lite places the reins firmly in your hands, ensuring that you maintain full ownership over your digital assets at all times.

✅ Quick Setup

Cobo MPC Lite ensures hassle-free onboarding with no lengthy KYC process or intricate technical installations. You can get started with Cobo MPC Lite within a matter of minutes.

You can securely store your MPC key-shares and effortlessly authorize transactions right from the convenience of your mobile devices.

✅ Low Cost

Cobo MPC Lite offers a transparent pricing structure devoid of any hidden or setup fees. Following a 14-day free trial period, you have the option to upgrade to a paid plan, featuring a pay-as-you-go pricing model with low monthly charges.

✅ Military-Grade Security

Key sharding achieves decentralization and ensures that no unauthorized party can unilaterally move your funds, preventing asset loss from external hacks or internal fraud and collusion.

✅ Customizable Wallet Features

You can customize your wallet to fit your unique requirements as your organization scales. Cobo MPC Lite offers role-based access controls, wallet segregations, signer delegation and approval workflows based on thresholds, whitelists and more.

✅  Asset Recovery Assurance

If your key-share is lost or compromised, or in the event of any catastrophic event or system failure, remaining key-shares can collaborate to ensure that you can access and recover your assets.

✅ Comprehensive Token Support

MPC technology is chain- and asset-agnostic by design, enabling easy onboarding of new tokens.

1,200+ tokens across 27+ chains supported currently, encompassing the majority of active public blockchains, and we are constantly expanding this list.

✅ Unparalleled Access to Web3

Securely connect to a multitude of dApps and enjoy frictionless access to Web3 using Cobo Connect browser extension.


Key Features

MPC Configuration

With Cobo MPC Lite, a “2 out of 3” key-share scheme can be implemented where Cobo will hold one key-share and you will hold two key-shares, one for daily transaction signing and one for back-up and recovery purposes.

Leveraging on MPC’s key derivation mechanism, the root key-shares can also be used to generate additional pairs of signer key-shares. These pairs of derived key-shares have the same capability in signing transactions and can be delegated to your team members.

To sign transactions, the participation of one key-share from you and one key-share from Cobo is required. The backup key-share shall be securely stored offline at all times and used solely for backup and recovery purposes. It acts as a contingency in the event that your key-share is lost, compromised, or if Cobo MPC Lite services are disrupted. This key-share scheme eliminates single points of failure, while ensuring that you maintain full ownership of the asset and always have the right to reconstruct the private key without Cobo’s participation.

Disaster Recovery

Cobo MPC Lite provides comprehensive key recovery capabilities to ensure that you have full control over your assets under all circumstances. If one of your key-shares is lost or compromised, you can initiate ‘soft’ key recovery to generate a new set of key-shares. In the unlikely event that Cobo MPC Lite is disrupted, you can initiate ‘hard’ key recovery with the open-source recovery toolkit to reconstruct the private key and take full control of your assets. These key recovery mechanisms are designed to ensure that you have the peace of mind, knowing that your assets are safe and protected at all times.

Transaction Co-Management

With Cobo MPC Lite, you can securely co-manage funds with your team members. Cobo MPC Lite enables the owner to derive signer key-shares on the Cobo Guard authenticator app of designated team members. Your team members can then participate in transaction approval and signing, even on the go. With this flexibility and security, you can confidently collaborate and co-manage assets with your team anytime, anywhere. This innovative setup also ensures that transactions on Cobo MPC Lite always align with your business’s governance policies.

Advanced Risk Management

Cobo MPC Lite utilizes Cobo’s superior risk management framework to effectively combat against every attack vector and cater to your compliance requirements. Through Cobo’s intuitive platform, you can effortlessly customize granular policy rules such as spending limits, whitelists, blacklists, and more, as well as implement real-time on-chain monitoring, screening rules and notification alerts.

Role-based Access Controls and Custom Workflows

Cobo MPC Lite offers role-based access controls and a highly customizable workflow engine that adapts to the specific needs and scale of institutions. You can set up roles such as Admin, Spender, Approver and Operator to segregate user privileges. You can also configure and automate authorization workflows to streamline your operations. To ensure the integrity of each operation, Cobo Auth mobile app serves as a 2FA to support multi-role and multi-level authentication.

Wallet-as-a-Service Integration

Cobo MPC Lite offers simple wallet APIs and plug-and-play SDKs, supporting wallet-as-a-service (WaaS) integration. You can easily and quickly deploy an enterprise-grade wallet infrastructure into your applications and manage thousands of tokens across the majority of active public blockchains within a single wallet interface.

With a standardized set of APIs and SDKs, you can generate and manage addresses on all supported chains, send and receive tokens, manage token sweep, interact with smart contracts, receive transaction notifications, view transaction history, and more. Cobo provides client libraries in five programming languages — Python, JavaScript, Golang, Java, and PHP.


About Cobo

Cobo is a globally trusted leader in digital asset custody solutions. As the world’s first omni-custody platform, Cobo offers the full spectrum of solutions from full custody, co-managed MPC custody, to fully decentralized custody as well as wallet-as-a-service, advanced DeFi investment tools and an off-exchange settlement network. Trusted by over 500 institutions with billions in assets under custody, Cobo inspires confidence in digital asset ownership by enabling safe and efficient management of digital assets and interactions with Web 3.0. Cobo is SOC2 Type 1 and Type 2-compliance-certified and licensed in 5 jurisdictions.

For more information, please visit www.cobo.com or contact us at custodyservice@cobo.com.