A MultiSig Treasury for STX & BTC
MultiSafe.xyz is a shared crypto safe for Stacks (STX) and Bitcoin (BTC). MultiSafe is 100% open source, and our mission is to support STX and BTC communities with our safe.
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:
A shared safe address
With multiple owners
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
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.
Security — the more keys needed to execute a transaction, the more difficult it will be for a hacker to compromise the treasury.
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.
Governance — a shared wallet can be used to manage shared governance tokens.
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.
