The partnership starts on dYdX, the first decentralised perpetual trading platform. Through CoinCover's integration, KPK strengthens its treasury management operations for the dYdX Treasury subDAO.
When starting to manage the dYdX treasury, KPK faced a key challenge: it had always used on-chain multisignature solutions for its mandates, but dYdX is not EVM-compatible, so no Safe instance is deployed there. The solution was to use an MPC wallet, specifically Fordefi. The institutional wallet proved a practical alternative, but it introduced greater centralisation in wallet management. However, it created a scenario in which signer access recovery could be more complex during an emergency.
“Non-custodial treasury management is a distinctive characteristic of KPK's treasury mandates with DAOs and Foundations. CoinCover lets us abide by our values even outside EVM-compatible chains. Through its recovery and protection tools, KPK can guarantee business continuity to its clients, avoiding single points of failure.”- Daniel Jean, Head of Treasury Management at KPK
This is the gap CoinCover helps to address. CoinCover extends its existing suite of recovery and protection tools to support and strengthen KPK’s treasury management operations.
CoinCover Recover for Institutions complements the Fordefi setup by providing the dYdX Treasury subDAO with a secure, governed path to restore access when needed without changing who controls the keys or how the wallet operates.
Designed for institutional-grade resilience, the material is encrypted against a CoinCover-issued key before it reaches us, and the protecting key is split so no single party can reconstruct it — each share AES-256-sealed, stored in segregated, server-side-encrypted infrastructure and replicated across regions. This adds a robust recovery layer to the dYdX Treasury subDAO’s existing wallet infrastructure.
Non-custodial infrastructure has grown faster than the protection layer built to support it, leaving digital asset wallet-level security as one of DeFi's most persistent gaps. KPK manage treasuries on chains where the standard multisig tooling simply does not reach. We add that layer through the infrastructure teams have already chosen, so recovery is something you switch on rather than something you build."
— Anthony Yeung, Chief Commercial Officer at CoinCover
KPK is a non-custodial onchain asset manager for DAOs, institutions and capital allocators, actively managing capital across DeFi since 2020. Over $8bn deployed onchain, more than 16,000 transactions and zero funds lost.
dYdX operates a decentralised platform for perpetual trading, designed to combine the openness of DeFi with the liquidity depth and performance that traders expect from professional venues. The platform supports advanced order types, a high-performance API and rapid listing of new markets, giving traders the tools to act on their strategies with confidence. integration is designed to support recovery where a key is lost or a recovery process is unsuccessful, with CoinCover protection services extending to eligible digital assets held on the platform.