Gate Vault Newbie User Guide: Mastering Secure Asset Management with MPC Wallet

As a global leading encryption asset trading platform, Gate officially launched the Gate Vault - a Multichain Wallet built on Multilateral Security Computing (MPC) technology.

This innovative product aims to provide users with stronger security protection and purer asset control through an advanced technological architecture. It is currently available for free to VIP3 and above users for a limited time.

01 Understanding the Gate Vault

The Gate Vault is a revolutionary digital asset management tool launched by the Gate platform. Unlike traditional Wallets, it uses Multi-Party Computation (MPC) technology to split the complete private key into multiple “key shards.”

These shards are stored among multiple participants, including your device, Gate servers, and third-party service providers. During transaction signing, the MPC protocol gathers each shard to participate in the computation in a distributed and secure manner to jointly complete the signature without needing to restore the complete private key.

This innovative design concept stems from a deep understanding of the pain points related to the security of digital assets. Traditional wallets face the risk of a single point of failure – once the private key is lost or stolen, the assets cannot be recovered.

The Gate vault fundamentally changes this fragile architecture through MPC technology, providing unprecedented security protection for user assets.

02 The Core Security Advantages of Gate Vault

The design of the Gate vault revolves around four core security advantages, forming a robust asset protection system.

The first is a more robust security architecture that can effectively resist single points of failure. Through MPC technology, your keys are divided into three parts, encrypted and distributedly stored on your device, Gate servers, and third-party service providers.

Transactions are signed collaboratively by multiple nodes, and the private key never appears in its entirety. Even if one party's shard is lost or attacked, the attacker cannot reconstruct the complete key.

The second is a purer asset control. Gate Vault adopts a 2-of-3 mechanism, where the platform and third parties only hold key shards and cannot independently initiate or complete any fund operations.

Transactions will only be executed if you initiate and confirm the authorization, which means you have ultimate control over your assets.

The third advantage is a more secure delayed payment guarantee. Funds transferred via the Gate vault will activate a 48-hour delayed payment mechanism.

During this period, you can freeze the withdrawal operation at any time to provide sufficient security buffer for your assets, effectively preventing abnormal operations and account risks.

Finally, there is a global disaster recovery mechanism. The Gate Vault supports cross-device recovery and longer backups, ensuring that even if you cannot access Gate services, you can retrieve your assets, providing solid protection for asset security in extreme scenarios.

03 Steps and Conditions to Open Gate Vault

Opening a Gate Vault is a simple and straightforward process, but it requires meeting specific conditions and following the correct steps.

Gate Vault is currently open for free to VIP3 users and above for a limited time; users below VIP3 can activate it through a paid method (coming soon).

You can find the activation entry in the Gate App: After entering the App, click on “Assets”, select “Overview”, and you will find the activation entry for the vault. Please note that this feature is currently limited to the main account.

The opening process is completed entirely within the app, without the need to download or register additional applications. Once successfully opened, you can access the vault interface in APP-Assets-Overview-Top Tab-Upper Right Corner.

With the gradual promotion of the Gate safe function, the platform will adjust the opening conditions in a timely manner based on operational strategies. It is recommended that users upgrade to Gate App version 7.23.6 or above as soon as possible to be among the first to experience this innovative and secure product.

04 Fund Deposit and Withdrawal Operation Guide

Mastering the fund operation methods of the Gate Vault is key to effectively using this product. The Vault supports two methods for fund deposits: withdrawal from a Gate account and transfer from on-chain.

The transfer operation will incur no fees, providing users with a convenient way to migrate assets.

When you need to transfer funds out of the vault, it is important to understand the relevant fee policy. When transferring funds from the vault, Gate will charge a service fee to support the security risk control mechanisms of the Gate vault, delayed arrival protection, and related technical services.

A service fee of 0.1% will be charged for each transaction, with a maximum fee equivalent to 100 USD.

Regarding the withdrawal destination, currently the Gate Vault does not support withdrawals to any address. To ensure the safety of your funds, withdrawals are currently only supported to your Gate account.

This way, Gate can provide a delayed arrival protection mechanism for your outgoing funds, which can intercept and protect your assets before arrival even in the event of an abnormal situation.

05 Backup and Recovery Mechanism of the Vault

Backup and recovery are important components of the Gate Vault, ensuring that you can access and manage your assets in various situations.

Gate Vault supports storing backups in the cloud or saving them via QR code. When you change devices, you can restore the vault using the cloud or QR code backup.

Please note that the backup password is set by you independently, and Gate has no authority to access or recover it. Please be sure to keep it safe. If you use a QR code for backup, it is recommended to save the QR code image on a device different from the one used for the vault.

If you need to recover the vault across devices, you can complete the recovery by scanning the QR code.

When creating a Gate vault, a 2-of-3 mechanism is used to split your keys into three parts, which are distributed and stored on your device, Gate, and a third-party service provider.

This means that the vault can be restored by combining any two key shares.

There are three specific recovery methods: restoring through backup when changing devices; collaborating with Gate and third-party service providers to recover when the backup is unavailable; and in extreme scenarios, independently recovering through third-party service providers when Gate is unavailable.

The last method is particularly noteworthy, as it means that even if Gate services are unavailable, you can still recover your vault by collaborating with third-party sharding and device sharding to import assets into your trusted private key Wallet. However, it is important to note that once you recover the assets through this method, the vault, which originally had a security model, will transform into a regular self-custody Wallet, and you will no longer be able to manage that Wallet through Gate.

06 Frequently Asked Questions and Precautions

During the use of the Gate Vault, users may encounter some common issues. Understanding these problems and precautions in advance can help in using the product more smoothly.

Regarding the fee issue, in addition to the service fee when transferring funds, restoring the vault may also involve charges. When you restore the vault through the backup method, Gate will not charge any additional fees. However, if restoring the vault requires participation from third-party shards, the third-party service provider may charge certain fees.

Regarding compatibility with other wallets, currently the Gate Vault does not support exporting to other wallets based on MPC technology. The MPC protocols and security mechanisms used by different platforms are not universal, so direct transfer is not possible.

However, when Gate services are unavailable, you can use device sharding and third-party sharding, export the private key through open-source tools, convert the MPC Wallet into a traditional private key wallet, and then import it for use in other wallets.

The launch of the Gate Vault is a key part of Gate's “All in Web3” strategy, showcasing the platform's ongoing expansion in the Web3 ecosystem.

It not only provides cutting-edge MPC technology support but also assists users in enhancing asset security through a quadruple protection mechanism.

Future Outlook

After opening the Gate Vault, the private key is split into three segments and no longer exists in its entirety on any single device. The user's phone only holds one fragment of the key, while the other two fragments are stored by the Gate servers and an independent third-party service provider.

At this moment, users' digital assets are still securely stored on the blockchain, but the way they are managed has undergone a fundamental transformation. Each transaction authorization requires the collaborative signature of at least two shards, and the private key itself has never been reproduced in full form on the network.