In this video tutorial I show you how to create and manage your own MultiSafe.

MultiSafe: Step-by-Step Tutorial

1. Create a new MultiSafe

Create a new MultiSafe:

1. Safe Name: Choose a name

2. Owners: Set your owners (Note: “.btc” names will only resolve on mainnet).

3. Confirmation threshold: Set the number of signatures necessary to approve withdraws. For example, “2 out of 3” owners will need at least 2 confirmations to withdrawn assets.

4. Review: Looks good?

5. Done: Submit your contract to the STX blockchain. You’ll need to pay a small amount of gas in STX to secure it on the blockchain.

2. Deposit Coins

Click “DEPOSIT” to send STX, USDA, ALEX, MIA, NYC or any other available token from your Hiro Wallet into MultiSafe.

Do you plan to create your own token? If so you can go to StacksSwap (decentralized), or ALEX (you’ll need to work with the ALEX team directly) where you’ll want to launch a SIP-010 token.

MultiSafe can store any SIP-010 token (aka. any Stack compatible tokens).

From there, just click “ADD ASSET” and paste your Clarity contract address into MultiSafe. See the image above for more detail.

3. Deposit NFTs

You can deposit NFTs directly into a MultiSafe.

Want to add an NFT collection to MultiSafe? You can.

1. Visit any Stacks NFT marketplace (Gamma.io, Byzanation, HeyLayer, etc).

2. Locate the NFT collection you want to include. For example, go to Gamma and choose Essence of Life.

3. Find the “contract” button and then visit the contract page on Stacks Explorer.

4. In the Stacks Explorer copy the “contract name”

5. Back in MultiSafe, click “ADD ASSET.” Paste in the “contract name,” and click “ADD”

6. Now you’ll see the NFT collection appear in your MultiSafe!

4. Approve Transactions

If I make a withdrawal, here’s what I’ll see:

Here’s what my 2nd owner Mandy will see:

Mandy will need to “CONFIRM” the transaction in order for the transaction to be sent.

Feels slow? Be patient, the transactions will likely take about 10 minutes to be submitted to the blockchain and therefore viewable by MultiSafe. Once you see the transaction you can decide to “confirm” or “revoke.”

5. Add Owners

Want to add more owners? Remove owners? Not a problem.

Click “ADD OWNERS.”

Based on your “policy” additional owners may also need to approve transactions to edit the owner list.

Final thoughts

I hope you enjoyed this MulitSafe tutorial. Go to app.MultiSafe.xyz to create your first safe.

Please reach out on Twitter @MultiSafexyz if you have any questions. We’d love to hear from you.

What is LNSwap?
An easy way to convert Bitcoin → Stacks.

Is LNSwap decentralized?
Yes. Fully trust-less, there is no centralized person swapping the money for you — it’s all code, and decentralized liquidity providers.

How could Bitcoin DAOs use this?
Bitcoin DAOs can use LNSwap to exchange Stacks into Lightning, Bitcoin, or other SIP-010s.

Who built LNSwap?
PseudoZach on Twitter.

How do I get started with LNSwap?
Go to LNSwap.org. If you’re going to convert Bitcoin to Stacks you’ll also need a Hiro Wallet.

What is a DLC?

A Discreet Log Contract (DLC) is a form of Bitcoin transaction that uses an oracle to execute a smart contract.

DLCs can execute one very specific type of smart contact: a bet.

Through an elegant process of pre-defining and cryptographically signing a set of possible outcomes — two Bitcoin users can agree on some contract parameters, and the oracle (a third-party) can attest to a single outcome.

The DLC process is trustless (no human needed) and involves a great deal of anonymity for the parties involved, both to the oracle as well as what is actually seen on-chain. Hence the playful name “discreet” in Discreet Log Contract.

The DLC Bet Example 

Imagine two Muppets — Kermit and Cookie Monster — want to place a bet.

1. Kermit bets, “Tomorrow’s weather will be sunny.”

2. Cookie bets that “Tomorrow it will be rainy.”

Game on!

To start the bet — 1 BTC each is placed into a DLC.

From there an oracle (for example, a Weather.com API, a friend, or a Clarity smart contract) is used to execute the final decision.

Once the decision is executed, the DLC programmatically distributes 2 BTC to the winner. In the case of the image above, Kermit wins the bet and 2BTC is sent to his wallet.

3 Use Cases for DLCs and Bitcoin DAOs

Here are three example use cases for DLCs as a building block for Bitcoin DAOs:

1. Kickstarter style—If all the funds are raised, the assets are sent to a multisig (like Electrum, Casa or MultiSafe.xyz). If the funds aren’t raised, the money is returned.

2. Indiegogo style—Even if all funds aren’t raised, you can still send the money forward.

3. Dutch auction—Whoever sends the most BTC wins an auction; all others get their money sent back to them.

Kickstarter Bitcoin DAO Example

Let me illustrate the Kickstarter Bitcoin DAO in more detail:

1. Organize a project — Multiple backers organize to collectively purchase something.

2. Set funding goal — The DLC creator sets a funding goal of 3BTC. Funding is set to “all or nothing.” Either the project is fully funded, or else all of the backers get their money refunded.

3. Funding goal is met? —  If a project is funded (success!), then the funds will be automatically transferred to a predetermined Bitcoin multisig wallet like Electrum, Casa, or MultiSafe.xyz.

4. Manage the DAO — Once in MultiSafe (or Electrum or Casa), the receiving owners can manage the money and make the purchase on behalf of the group.

Clarity smart contracts as an oracles?

In the Kickstarter example above a Clarity smart contract could be used to reach the Bitcoin state of the DLC wallet.

Clarity can read Bitcoin state. And as such, the Clarity contract can be listening to Bitcoin state and then triggering the following oracle event:  ”If we hit [2 BTC] by [July 1, 2022] we will buy [The Muppet Theatre].”

Two Technical Considerations

1. When using a DLC you must know the final output wallet address before you deploy the DLC.

2. You can’t leave unspent funds in the DLC wallet after the transaction is complete: assets must either be sent to the new address, or be returned to the original wallet address.

Final Thoughts 

We investigated DLCs as a potential extension for MultiSafe to help in our mission to create Bitcoin DAOs. At this moment we don’t have plans to develop any code related to the above scenarios. We are looking for use cases of Bitcoin DAOs. Please get in touch with us on Twitter @multisafexyz.

We believe that by creating a free and open source Bitcoin multisig, written in Clarity, that we will be able to offer a foundational building block to support Bitcoin DAOs and Bitcoin fundraising projects

1. Which tokens does MultiSafe support?

As of this writing, MultiSafe supports STX, SIP-009 tokens (NFTs), and SIP-010 tokens (MIA, ALEX, DIKO, xBTC etc). Native BTC is coming summer 2022.

2. How does MultiSafe work?

Anyone with Stacks (STX) assets will be able to create:

1. A shared safe address

2. With multiple owners

3. And the ability to send a minimum threshold of owner confirmations necessary to send funds. For example, “2 out of 4” owners must “confirm” in order for money to be sent.

3. Is MultiSafe similar to Gnosis Safe on ETH?

Yes, MultiSafe is more or less the Gnosis Safe equivalent for Stacks and Bitcoin.

In the Ethereum ecosystem, Gnosis Safe stores nearly $70b worth of ETH assets. Billion with a "b." For a quick primer on Gnosis Safe either read more below or watch this 4 minute video to learn more about Gnosis Safe.

4. Why this project? Why now?

Benefit the Bitcoin Community

• MultiSafe’s shared-treasury, plus extendability can now act as the foundation for building Bitcoin DAOs. This opens up an entirely new landscape of what’s possible with Bitcoin.

Benefits to the Stacks Community

• Right now, many Stacks projects are storing their treasury funds in one single centralized safe, or a custom-made Clarity smart contract (e.g. CityCoins). Neither of these solutions are as scalable or secure as creating one open source, battle tested storage solution we can all trust and share.

Creating a multi-sig contract, with a user-friendly UI, that has been tested, and audited — permits members of the Bitcoin and Stacks communities to build DeFi projects, NFT communities, and more without having to reinvent the wheel on treasury storage each time.

5 reasons you should upgrade to MultiSafe today

1. Shared (decentralized) ownership — with a shared wallet no longer is one person in control of the treasury. Therefore, trust can be spread across multiple members, and thereby (hopefully) reduce the risk of bad actors.

2. Security — the more keys needed to execute a transaction, the more difficult it will be for a hacker to compromise the treasury.

3. Payroll — a shared wallet can be used as a joint treasury (like a business bank account) from which to distribute funds, pay employees, and pay bounties.

4. Governance — a shared wallet can be used to manage shared governance tokens.

5. NFTs and other digital assets — a shared wallet can be used to store NFTs. Such a wallet is desired by many investment clubs (and DAOs) looking to share ownership of assets.

Want to use MultiSafe?

Great. Create your first safe at MultiSafe.xyz, and read some of our other blog posts on how to get started.

The project is open source, so you don’t need our permission. But if you like some guidance please reach out on Twitter: @multisafexyz.