Using Multisig wallet for DAO Treasury
A Multisig wallet (also a multi-signature wallet) is a wallet that requires a predetermined number of signatures to validate transactions, which means that each transaction requires multiple team members to validate it. For a Multisig wallet, you can set rules like “at least X of all keys are required to transfer funds from this wallet”. A well-known solution for a multi-signature wallet is Gnosis Safe.
- Automatic transfer of funds received from NFT-sales to Multisig wallet
- Adding and displaying meta-information (name, description) about Multisig wallet
- Adding description meta-information (for example, purpose of spending) to Multisig Wallet transactions
- Displaying information about assets and transactions on a Multisig wallet
- Support of native assets (ETH), ERC20 and ERC721 assets
- Support of interaction with other smart contracts and DAPPs (Compound, 1Inch, etc.)
- A secure solution for joint fund management via multi-signature
- Additional costs for contract deployment
- Additional management overhead (multi-signature logic, use of external Gnosis Safe interfaces, etc.)