Business
About
Karate Combat is the world’s premier full-contact striking league, blending the excitement of live-action, full-contact Karate with immersive CGI environments powered by the Epic Games Unreal gaming and virtual production engine. Karate Combat is the first sports league structured as a DAO, powered by the $KARATE token.
Goal
Karate Combat needed a secure way to store their private keys and native $KARATE token.
The challenge
Karate Combat needed a secure way to store their private keys and their native $KARATE token on both the Ethereum and Hedera networks. The new token and the increase in transaction volume required that only certain employees, including legal and tax directors, could oversee the funds. In addition to managing and securing the token treasury, Karate also needed to make distributions to investors and payments to partners periodically.
The solution
Karate Combat partners with Fireblocks to create a command center to secure its digital assets from malicious insiders and manage day-to-day treasury operations.
Non-technical, non-crypto native individuals, like our legal and tax directors, are integral to our chain activity. We need them involved in our smart contract operations. Before Fireblocks, I was puzzled – I didn’t know what we would do. We went with Fireblocks because it was the most secure and easy-to-use solution when working with our non-technical, non-crypto native team members for on-chain transactions and activities.
The results
Karate Combat has:
- Eliminated a single point of private key compromise by combining MPC-CMP and secure hardware enclaves, protecting private keys from internal and external attacks.
- Configured different roles for their organization and approval levels for each employee so that only specific individuals could have oversight of fund compliance. The protection of the fund movement helped them against potential rogue employees and human error.
As Karate Combat’s team looks to the future, Fireblocks is ready to scale as their Web3 strategy evolves. To learn more, visit Fireblocks treasury management.