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.

Supported features:

• 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.)

• Funds management based on multi-signature functionality through the Gnosis Safe App interface

Pros

• A secure solution for joint fund management via multi-signature

• The possibility of extending the functionality of Multisig wallet by using additional Modules

Cons

• Additional costs for contract deployment

• Additional management overhead (multi-signature logic, use of external Gnosis Safe interfaces, etc.)