Web3 teams need a secure and cost-efficient way of storing their funds for distribution. Today, we’re excited to announce the release of our Multi-signature (Multi-sig) Wallet app. Teams using Streamflow can now create a Multi-signature (Multi-sig) Wallet to store funds and initiate Vesting and Payment Streams triggered by proposals.
Under the hood we’ve integrated with Squads protocol —the most reliable Multisig platform on Solana, receiving audits from OtterSec and Bramah Systems— building Streamflow’s Multi-sig Wallet app using Squads’ SDK. This integration lends the stability and security of Squad’s Multisig infrastructure to Streamflow’s Multi-sig app.
Furthermore, Streamflow’s Multi-sig app is cross-compatible with Squads allowing Streamflow users to access their Multi-sig Wallet from the Squads dashboard — Granting access to token swaps, and Magic Eden, Bonfida, and Dialect integrations. On the other hand, users that create a Multi-sig Wallet with Squads can access their wallet using Streamflow’s Multi-sig app to send Vesting and Payment Streams.
What is a Multi-signature Wallet?
Multi-signature Wallets help to decrease the chances of hacks and exploits. To distribute funds from a Multi-sig Wallet, a member creates a proposal, and other members must use their private keys/signatures to vote and approve the proposal. This method increases security by spreading the authorization process for transactions among multiple people —the more members, the more secure the Wallet.
In addition to added security, Multi-sig Wallets allow users to democratize their organization’s decision-making processes. When users create a Multi-sig Wallet they can set the number of members’ votes it takes to pass a proposal— and decide which percentage of the members are able to finalize a transaction.
To learn more, visit Streamflow.finance/multisig
