My 80IQ understanding of it is that it's basically Schnorr-like musig (many keys acting onchain as if they were one) but way more complicated because of not-Schnorr math and it seems like every few months some academic paper finds a new maybe-vulnerability. But useful for them because the same approach can secure every shitcoin they custody (including bitcoin) w/the same technique.

Strikes me as a weird place in the Venn diagram where very few players are doing it (and so there's all the usual risks of novel cryptography and limited eyes reviewing/improving the code) BUT the people who are using it are the biggest behemoths out there.

Seems kinda unsettling but also thus far has been totally fine...?